Issue - meetings

Medium Term Financial Strategy & Budger Proposals 2018/19

Meeting: 09/01/2018 - Strategic Planning, Sustainability and Transportation Committee (Item 127)

127 Medium Term Financial Strategy & Budget Proposals 2018/19 pdf icon PDF 84 KB

Additional documents:

Minutes:

Mr Mark Green, the Director of Finance and Business Improvement, presented a report on the Medium Term Financial Strategy and Budget Proposals 2018/19 to the Committee.

 

It was highlighted to the Committee that there were three new budget savings for services within this Committee’s remit:

 

o  An increase in Pay & Display income budget;

o  The funding of staff costs from the Community Infrastructure Levy; and

o  An increase in the Local Land Charges fee income.

 

Mr Green informed the Committee that, since the agenda had been published:

 

·  The Local Government Finance Settlement had been introduced. In the Settlement, the Government agreed to increase the referendum threshold for Council Tax increases and this was to be considered at the meeting of Policy and Resources Committee in February 2018.

 

·  Kent and Medway Councils had been chosen to be a part of the 100% Business Rates Retention Pilot for 2018/19. This could mean an extra £600,000 of income for the Council. This would be considered at the meeting of Policy and Resources Committee in January 2018.

 

·  The Government was to reconsider the negative Revenue Support Grant. The Council was due to pay £1.6million back in 2019/20 and the reconsideration of this may mean the Council did not have to.

 

The Committee was concerned that the report due to be brought to this Committee on 22 January 2018 relating to the Maidstone Tri-Study and Park and Ride Operational Review could impact the figures in this report. Therefore this report was deferred until the meeting of this Committee on 22 January 2018 as the Committee could not provide any meaningful comment.

 

RESOLVED:That this item be deferred until the meeting of this Committee on 22 January 2018.