Agenda item

Report of the Director of Regeneration and Communities - Budget Strategy 2015 16 Onwards

Minutes:

The Cabinet considered the report of the Director of Regeneration and Communities regarding the Budget Strategy for 2015/16 onwards.

Following consideration of the financial risks over the medium term, as set out in the report, the Cabinet resolved to recommend to Council a budget based upon a 1.99% increase in the level of Council Tax.

RESOLVED to RECOMMEND to COUNCIL:

(1) That the revised estimates for 2014/15 as set out in Appendix A
to the report of the Cabinet be agreed;

(2) That the minimum level of General Fund Balances be set at £2m for
2015/16;

(3) That the proposed Council Tax of £235.71 at Band D for 2015/16 be
agreed;

(4) That the revenue estimates for 2015/16 incorporating the growth
and savings items set out in Appendix A be agreed;

(5) That the Statement of Earmarked Reserves and General Fund
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 Capital Programme, as set out in Appendix A be agreed;

(8) That the funding of the Capital Programme as set out in Appendix
A be agreed;

(9) That the Strategic Revenue Projection, as set out in Appendix A
as the basis for future financial planning be endorsed;

(10) That it be noted that the Council’s Council Tax base for the year
2015/16 has been calculated as 56974.3 in accordance with
Regulation 3 of the Local Authorities (Calculation of Council Tax
Base) regulations 1992;

(11) That it be noted that in accordance with Governance guidance the
yield from business rates has been calculated as £58,252,075;

(12) That it be noted that the individual parish area tax bases set out in
Appendix B are calculated in accordance with regulation 6 of the
Regulations and are the amounts of the Council Tax Base for the
year for dwellings in those parts of the Council’s area to which a
special item relates;

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

(14) That the Council Tax requirement for the Council’s own purposes
for 2015/16 (excluding Parish precepts) is £13,429,412;

(15) That the following amounts now be calculated by the Council for
the year 2015/16 in accordance with Section 31A, 31B and 34-36
of the Local Government Finance Act 1992 as amended by the
Localism Act 2011:-

(a)	£80,506,490	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)	£65,683,120	being the aggregate of the amounts which the Council estimates for the items set out in Section 31A(3) of the Act.
(c)	£14,823,370	being the amount by which the aggregate at 16(a) above exceeds the aggregate at 16(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)	£260.18	being the amount at 16(c) above (Item R), all divided by the figure stated at 11 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)	£1,393,958	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)	£235.71	being the amount at 16(d) above less the result given by dividing the amount at 16(e) above by the tax base given in 11 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 2015/16 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	726.66	98.10	47.10
B	847.77	114.45	54.95
C	968.88	130.80	62.80
D	1,089.99	147.15	70.65
E	1,332.21	179.85	86.35
F	1,574.43	212.55	102.05
G	1,816.65	245.25	117.75
H	2,179.98	294.30	141.30

(17) That, having calculated the aggregate in each case of the amounts at 16 (d), and 17 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 2015/16 for each of the categories of dwellings shown.

Supporting documents: