Decision details

This report seeks final confirmation of the recommendations to Council, on 19 February 2016, in respect of the revenue budget, capital programme and council tax for 2016/17.

On 11 January 2016, the Executive reviewed the Council’s overall finance strategy and considered proposals relating to the capital programme, revenue budgets and the council tax for 2016/17.  This report updates the Council’s budgets to reflect the decisions taken on 11 January 2016.

The capital programme for the years 2015/16 to 2019/20 will be £36,959,000.

The revenue budget for 2016/17 will be £8,829,400.  With Central Government support and retained business rates estimated to be £2,592,859 and use of collection fund balance of £136,473, the total amount due from the council tax payers will be £6,100,068.

Taking these changes into consideration, the council tax for 2016/17 will be £145.22 per Band D property. This represents an increase from the council tax set for 2015/16 and would be within the referendum limit set by the Government.

RESOLVED that the Executive approves the following proposals and recommends them to the meeting of the Council to be held on 19 February 2016:

(a)  the capital programme and financing of £36,959.00;

(b)  an overall revised revenue budget for 2015/16 of £9,174,600;

(c)  a revenue budget for 2016/17 of £8,829,400; and

(d)  a council tax for Fareham Borough Council for 2016/17 of £145.22 per band D property, which represents a £5.00 increase when compared to the current year.