Agenda item

Budget Setting, Medium Term Financial Plan & Capital Strategy

Report of Executive Member for Finance.

Minutes:

The Leader said was pleased to see that Breckland would reduce the reliance of the Revenue Support Grant (RSG) to nil in 2018/19.  In addition the reliance on the New Homes Bonus with indicative values of £1.7m in 2018/19 and £1.4m in 2019/20 would be contributed into the Communities reserves and was publicly committed to spend within the community projects.

 

The Executive Member for Finance added that through the Growth and Investment fund, and the Communities fund, would allow greater opportunity to invest in the District.

 

The Executive Member for Place added that the report had reflected an exciting opportunity going forward.

 

The Leader also echoed this comment, and thanked the Executive Director of Commercialisation and the Chief Accountant for their work.

 

Options

Option 1 - Recommendations 1 to 6 above are approved.

 

Option 2 - That amendments are made before recommendations 1 to 6 above are approved.

 

Reasons

To comply with budgetary and policy framework.

 

RECOMMEND to Full Council that:

 

1)         The Breckland revenue estimates and parish special expenses for 2018-19 and outline position through to 2021-22 (as set out in Appendix B and E) are approved.

 

2)         The capital estimates and associated funding for 2018-19 and outline position through to 2021-22 (as set out in Appendix H) are approved.

 

3)         The fees and charges shown at Appendix D and D2, for adoption on 1 April 2018 are approved.

 

4)         The Council Tax is set at £83.88 for a Band D property in 2018-19 (a £4.95 per annum increase on 2017-18 levels).

 

5)         The financial Medium Term Plan at Appendix A is approved.

 

6)         The Capital Strategy at Appendix G is approved.

Supporting documents: