Decision details

Council approved the Revenue Budget for 2014/15 on 28 February. This was based upon Government grant levels assumed at that time. The Government has since indicated changes to funding levels for 2014/15 and the December report will highlight the potential impact on the Council. Final figures are unlikely to be announced until late December, it is anticipated that this will be reported to Cabinet in January.

The December report will also highlight the potential financial position for the Council in 2015/16 and 2016/17. This will be prepared based on initial Government indications of grant funding changes for these years and potential service pressures. Any variations to this position will be reported to the January Cabinet meeting

The Cabinet considered the report of the Head of Corporate Finance and ICT which identified required changes to the Medium Term Financial Plan, arising from the non-achievement of specific savings in 2013/2014, amendments to resources and anticipated expenditure variations for 2014/15; and requested Members to consider how the short fall of £4.781m would be met from a Council Tax increase, one-off resources and/or new sustainable options

The Head of Corporate Finance and ICT reported that the Overview & Scrutiny Committee (Performance and Corporate Services) at its meeting held on 18 February 2014 had considered and noted a report on the budget position.

The report also provided details of the level of fees and charges for 2014/2015 which had previously been considered by the appropriate Cabinet Member.

Decision Made:

That:

(1)       the updated Budget position for 2014/15 be noted;

(2)       the comments of the Overview & Scrutiny Committee (Performance  and Corporate Services) be noted;

(3)       the level of fees and charges for 2014/15 be approved;

(4)       the Council at its meeting on 6 March 2014 be requested to identify the means of bridging the outstanding budget gap of £4.781m for 2014/15 and the level of the Council Tax increase for 2014/15.

Reasons for Decision:

To enable the Cabinet to consider the Budget position prior to the Budget Council to be held on 6 March 2014.

Alternative Options Considered and Rejected:

No. The Council has a legal obligation to set a balanced and robust budget and to set the Council Tax for 2014/2015 before 10 March 2014.