Agenda item

Budget 2019-20 - Revenue and Capital


The subject of the decision


The Head of Financial Services submitted a report which sought to present to Members the draft revenue and capital budget and the formal advice of the chief financial officer on the robustness of the estimates included in the budget and the adequacy of the reserves which supported the Council’s budgetary plans.


Consultations informing the 2019/20 budget process comprised of a survey of residents undertaken during June and July 2018 and a budget consultation focusing on specific budget issues, carried out during December 2018 and January 2019.


Members thanked the chief finance officer, the Financial Services Team and senior managers for their contribution to the development of the draft budget proposals.


Councillor B Cannon moved the recommendations contained within the report. This was seconded by Councillor A Smith. The recommendations were unanimously agreed.


Alternative options considered




The reason for the decision


The Council’s statutory requirement to approve a balanced budget.


The decision




That Council be requested to agree that –


  1. The total planned revenue expenditure be £15,398,082 including parish precepts of £2,197,940
  2. £15,002,631 be approved as the Council’s net Budget requirement for 2019-20
  3. An increase in Council Tax of £5 on band D Properties, with proportionate increases being applied to properties, in other council tax bands be approved
  4. No changes be made to the Council’s Council Tax Reduction discount scheme and that the current scheme remains in place for 2019-20
  5. The revenue estimates as approved be used in the calculation of the basic amount of tax under Section 31 of the Local Government Finance Act 1992
  6. The minimum level of non-earmarked general fund balances be set at £2.7m and that no maximum level be set
  7. The capital budget of £32,178,305 (comprising £9,928,305 in 2019-20, £21,180,000 in 2020-21 and £1,070,000 in 2021-22) be approved
  8. The proposed capital budget for 2019-20 be financed as follows:

·  grants and contributions ……..£3,045,919

·  borrowing………………...…….£6,502,386

·  capital receipts …………………..£380,000


Supporting documents: