Transcript Initial Budget Proposals 2015/16

Budget Proposals
2015/16
Presentation by Leader of the Council
& Cabinet Members
Overview & Scrutiny Committee
28th January 2015
Key Proposals (Updated)
• No increase in Council Tax
• £1.49m savings / additional income identified
• Improving frontline services
• New Homes Bonus used to attract external funding
• £4.8m of new investment (Revenue & Capital)
• 10p after 3.00pm Car Parking to continue
• Continued support to Parish & Town Councils
New Key Proposals
• Mi Communities funding continuing for another
year (£100k)
• Refund of Council Tax surplus to Town & Parish
Councils (£30k)
• Dedham Vale area of outstanding natural
beauty support to continue at current level
• Business Investment Fund set up to provide
loans for growing businesses (£500k)
Government Grant Allocation
(Updated following Financial Settlement)
•Settlement Funding Assessment reduced by 15.4% to
£5.72m
•Revenue Support Grant reduced by 30.1% to £2.56m
•Future years assumed reduction of 7% in SFA
•New Homes Bonus - £247k
Business Rates (Updated)
• 2015/16 Baseline
• Estimated retained income
• Net additional income (after payment
of levy) due to lower level of appeals
• Pooling - Additional Income in 2016/17
£000
3,165
(4,064)
(609)
(250) ?
• 100% Small Business rate relief continued
• Retail relief increased from £1,000 to £1,500
2016/17 onwards (updated)
• Based on 2% increase in Council Tax and a
continuing 7% reduction in SFA
2016/17 Shortfall
£128,616
2017/18 Shortfall
£698,702
2018/19 Shortfall
£612,773
Reserves & Balances (Updated)
• Balances used to fund one off spend
and loans to businesses
£0.9m
• Anticipated earmarked reserves
as @31st March 2016
£12.0m
• Anticipated unallocated balances
as @ 31st March 2016
£7.3m
• Minimum recommended level of
Reserves and Balances
£1.5m
People (Cllr Beavis)
• Investment in Community Transport with vehicle
replacements to ensure a reliable service is
maintained
• Handyman service to assist vulnerable people
• Health & Wellbeing investment working with partners
and community
• Continue the Mi Community scheme to support
community projects (subject to Cabinet decision)
• Continued support for Parish and Town Councils
Place (Cllr Schmitt)
• Investing and improving recycling and waste services
to households and businesses, including flats
• Increasing energy efficiency (solar panels & wind
turbine)
• Improving cycleways, footpaths and play areas
• Car Park refurbishments
• Increasing funds for Disabled Facilities Grants
• Continuation of Housing Renovation grants
Prosperity (Cllr Lady Newton)
• Investing in Business (Business Start-ups, loans
scheme and industrial areas)
• Improving Infrastructure – Road, Rail & Broadband
• Investing in our Town Centres
• Building more Affordable Homes
• Investment in the new Local Plan
• Increasing the Planning resource
• Supporting Employment & Skills Board
• Dedham Vale contribution
• 10p after 3pm car parking continued
Support for Housing Development
• New Homes Bonus
£750k
• Capital Programme
£800k
• Chip Fund
£750k
• Land Deals – e.g. Chapel Hill
£1.2m
• Exploring future investment options
Performance (Cllr Bebb)
• Explore new investment opportunities
• Review assets use and value with partners
• Increasing rate of returns on investments
• Keep Council tax low
• Invest in technology to improve the way that we
deliver services and ensure that they are easier
to access for our customers.
Budget Process
• Cabinet - 1st December 2014 – initial budget
proposals
• Council 15th December 2014 – Agreed
LCTSS
• Business Leaders Board - 13th January 2015
• Overview & Scrutiny Committee – 28th
January 2015
• Cabinet - 2nd February 2015
• Council - 16th February 2015