Agenda item

Revenue Budget 2017/18 - Medium Term Financial Plan and Capital Programme

Meeting of South Somerset District Council, Thursday 23rd February 2017 7.30 pm (Item 104.)

Decision:

RESOLVED:

That Council:

(a) approved the overall Revenue Budget for 2017/18 of £17,379,200 and the Revenue Account Summary as shown at Appendix A and note future year projections outlined in paragraph 33;

(b) approved the detailed budgets for the District Executive and four Area Committees as shown at Appendix B;

(c) approved the increase of £5.00 per annum in the Council Tax for 2017/18 for South Somerset District Council, which will result in a Band D charge of £157.48;

(d) approved the transfer of £109,729 to the Somerset Rivers Authority;

(e) approved the additional expenditure for budget pressure bids and removal of 16/17 once offs as shown in Appendix C;

(f) approved the savings proposals in Appendix D in conjunction with the equalities checks;

(g) noted the current position and future estimation of reserves and balances as shown in paragraphs 53-57;

(h) noted the deferral of new capital schemes pending the finalisation of the Council Plan 2017/18 Annual Plan;

(i) noted the Minimum Revenue Provision (MRP) Statement and Capital Prudential Indicators as attached at Appendix E.

Reason:

To seek approval of the 2017/18 Revenue Budget and Medium Term Financial Plan (Revenue Budgets for 2017/18 to 2021/22).

(Voting: 39 for, 0 against, 12 abstentions)

Minutes:

The Portfolio Holder for Finance and Legal Services presented the report and commended officers on their support and help in reaching a sensible and balanced budget in what was a very difficult time for Local Government.

He advised that the Local Government settlement had finally been confirmed and within that SSDC had won an appeal for the New Homes Bonus settlement to what was originally offered. He then proceeded to highlight several financial updates to the report although these did not change the recommendations as set out in the agenda report.

He explained to members the conclusion of how the budget had been balanced through the use of once-off funds and deferment of pension liabilities and though not ideal gave a good indication of the severity of the situation the Council was currently in.

In response to questions, the Assistant Director (Finance and Corporate Services), Leader of Council and the Portfolio Holder for Finance and Legal Services advised that:

· The 2016/17 budget had detailed the introduction of an automatic number plate recognition system in SSDC in car parks but this had not proceeded and so it had not been possible to make the saving.

· Referred to last year’s budget for 2016/17 which gave detailed information regarding the issues on car parking and did not believe a fundamental review of the Car Parking Strategy was to be undertaken.

· Under the Budget Revenue Summary that ‘Arts’ referred mainly to the Octagon Theatre and would be corrected for future budget monitoring.

· The Council only looked to balance the budget for the next financial year and those years after that were for indication purposes only.

· Due to the current and future financial climate it was highly likely that Council Tax would need to be raised in the future.

The Leader of the Council also noted members appreciation of the Licensing Service and congratulated them for the excellent work undertaken.

At the conclusion of the debate, the majority of Members were content to confirm the proposed Revenue Budget for 2017/18, the Medium Term Financial Plan and Capital Programme as presented.