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.