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Agenda item

Budget Strategy 2013 14 Onwards

Minutes:

The Cabinet considered the report of Corporate Leadership Team regarding the Budget Strategy for 2013/14 onwards.

The Cabinet considered potential methods of apportionment and resolved to recommend payment of the Government’s calculated share of £110,631 but distributed to individual parishes based upon the loss incurred as a consequence of the local council tax support scheme changes to individual tax bases.

Following consideration of the financial risks over the medium term, as set out in the report of the Corporate Leadership Team, Cabinet resolved to recommend to Council an increase of 1.9% in the level of Council Tax.

RESOLVED TO RECOMMEND TO COUNCIL:

1. That the revised revenue estimates for 2012/13 be agreed as set out in Appendix A (circulated separately).

2. That the minimum level of General Fund Balances be set at £2m for 2013/14.

3. That the proposed Council Tax of £226.62 at Band D for 2013/14 be agreed.

4. That the revenue estimates for 2013/14 incorporating the growth and savings items set out in Appendix A be agreed.

5. That the Statement of Reserves and Balances as set out in Appendix A be agreed.

6. That the Capital Programme, as set out in Appendix A be agreed.

7. That the funding of the Capital Programme as set out in Appendix A be agreed.

8. That the Medium Term Financial Strategy as set out in Appendix A be agreed.

9. That the Medium Term Financial Projection, as set out in Appendix A as the basis for future financial planning be endorsed.

10. That it be noted that, at the meeting of the General Purposes Group on 19^th December 2012, the Group calculated the Council’s Council Tax base for the year 2013/14 in accordance with regulations made under Section 33 (5) of the Local Government Finance Act 1992, as 55155.1 being the amount calculated in accordance with Regulation 3 of the Local Authorities (Calculation of Council Tax Base) regulations 1992.

11. That it be noted that, at the meeting of the General Purposes Group on 30^th January 2013, the group approved the values for the business rates yield in accordance with the principles of the Government’s guidance for the form NNDR1. The yield approved was £54,915,542 and this information has been provided to the Government and major preceptors.

12. That it be noted that, as detailed in Appendix B, the Council Tax Base for each of the Parish Areas, calculated in accordance with Regulation 6 of the Regulations, are the amounts of its Council Tax Base for the year for dwellings in those parts of its area to which a special item relates (Parish precepts).

13. That the distribution of Local Council Tax Support funding to parish councils, as set out in Appendix C, be approved.

14. Calculate that the Council Tax requirement for the Council’s own purposes for 2013/14 (excluding Parish precepts) is £12,498,993

15. That the following amounts now be calculated by the Council for the year 2013/14 in accordance with Section 31A, 31B and 34-36 of the Local Government Finance Act 1992 as amended by the Localism Act 2011:-

(a)	£79,052,734	being the aggregate of the amounts which the Council estimates for the items set out in Section 31A(2) of the Act taking into account all precepts issued to it by Parish Councils.
(b)	£65,365,967	being the aggregate of the amounts which the Council estimates for the items set out in Section 31A(3) of the Act.
(c)	£13,686,767	being the amount by which the aggregate at 13(a) above exceeds the aggregate at 13(b) above, calculated by the Council in accordance with Section 31A(4) of the Act as its Council Tax requirement for the year. (Item R in the formula in Section 31A(4) of the Act).
(d)	£248.15	being the amount at 13(c) above (Item R), all divided by the figure state at 10 above (Item T in the formula in section 31A(4) of the Act), calculated by the Council, in accordance with Section 31B(1) of the Act, as the basic amount of its Council Tax for the year (including Parish precepts).
(e)	£1,187,774	being the aggregate amount of all special items (Parish precepts) referred to in Section 34(1) of the Act (as per the attached Appendix B).
(f)	£226.62	being the amount at 13(d) above less the result given by dividing the amount at 13(e) above by the tax base given in 10 above, calculated by the Council, in accordance with Section 34(2) of the Act, as the basic amount of its Council Tax for the year for dwellings in those parts of its area to which no Parish precept relates.

16. That it be noted that for the year 2013/14 Kent County Council, the Kent Police & Crime Commissioner and the Kent & Medway Fire & Rescue Authority have stated the following amounts in precepts issued to the Council, in accordance with Section 40 of the Local Government Finance Act 1992, for each of the categories of dwellings shown below:-

Valuation Bands	KCC £	KPCC £	KMFRA £
A	698.52	94.31	45.30
B	814.94	110.03	52.85
C	931.36	125.75	60.40
D	1,047.78	141.47	67.95
E	1,280.62	172.91	83.05
F	1,513.46	204.35	98.15
G	1,746.30	235.78	113.25
H	2,095.56	282.94	135.90

17. That, having calculated the aggregate in each case of the amounts at 13 (d), and 14 above, the Council, in accordance with Section 30 (2) of the Local Government Finance Act 1992, hereby sets out in Appendix D, the amounts of Council Tax for the year 2013/14 for each of the categories of dwellings shown.

Supporting documents: