Issue - meetings

To consider a report by Councillor Julian Thompson-Hill, Lead Member for Finance and Assets (copy enclosed) providing an update on the budget setting process and detailing proposals to be approved by County Council to set the Council’s revenue budget for 2014/15.

RESOLVED that Cabinet –

(a)       supports the budget proposals for 2014/15 as shown in Appendix 1 to the report and recommends accordingly to full Council, and

(b)       recommends the resulting 3.5% increase in the level of Council Tax for 2014/15 to full Council.

Councillor Julian Thompson-Hill presented the report detailing the budget proposals for 2014/15 and resulting 3.5% increase in the level of Council Tax.  Additional budget saving proposals of £2m in order to finalise the Revenue Budget for 2014/15 had been attached to the report (Appendix 1) together with details of previously approved budget savings of £6.5m for 2014/15 (Appendix 2).

Reference was made to members’ views arising from the recent Budget Workshop and the reasoning behind the proposals put forward.  Some reservations were expressed regarding the use of general balances to help meet the savings shortfall, but Cabinet was reassured that balances would remain at a reasonable level and did not pose a risk to the authority.  The use of balances was intended as a one off allocation allowing time to develop further savings proposals for 2015/16.  Any windfalls at the end of the financial year would be allocated to general balances unless earmarked for specific services. The significant financial challenge for future years was also highlighted with more difficult decisions to be made.

Councillor David Smith paid tribute to the Head of Finance and Assets and his team for their hard work and management of the budget setting process.

RESOLVED that Cabinet –

(a)       supports the budget proposals for 2014/15 as shown in Appendix 1 to the report and recommends accordingly to full Council, and

(b)       recommends the resulting 3.5% increase in the level of Council Tax for 2014/15 to full Council.