This report seeks final confirmation of the recommendations to be made to Council on 21 February 2020, in respect of the revenue budget, capital programme and council tax for 2020/21.
On 06 January 2020, the Executive reviewed the Council’s overall finance strategy and considered proposals relating to the capital programme, revenue budgets and the council tax for 2020/21. This report updates the Council’s budgets to reflect the decisions taken on 06 January 2020.
The capital programming for the years 2019/20 to 2023/24 will be £64,246,000.
The revenue budget for 2020/21 will be £9,606,500. With retained business rates and grants estimated to be £2,456,665 and a deficit to be paid to the collection fund of £47,033, the total amount due from the council tax payers will be £7,196,868.
Taking these changes into consideration, the council tax for 2020/21 will be £165.22 per Band D property. This represents an increase from the council tax set for 2019/20 but would be within the referendum limit set by the Government.
Decision type: Key
Decision status: Recommendations Approved
Notice of proposed decision first published: 19/12/2019
Decision due: 3 Feb 2020 by Executive
Lead member: Executive Member for Policy & Resources
Lead director: Deputy Chief Executive Officer
Contact: Neil Wood Email: nwood@fareham.gov.uk.
Consultees
None
Background Papers: None