Issue - meetings

Issue - meetings

Draft Budget 2014-15

Meeting: 29/01/2014 - Council (Item 60)

60 Financial Planning - Draft Revenue and Capital Estimates 2014-2018 and the Treasury Management Strategy 2014-17 - RECOMMENDATIONS FROM CABINET 20 JANUARY 2014 pdf icon PDF 40 KB

Report of Cabinet – 20 January 2014       

 

Members are reminded to bring their copies of the report to Cabinet to the meeting.

Additional documents:

Minutes:

Council received a report of Cabinet, including the original report presented to Cabinet at its meeting on 20 January 2014 and an additional report from the Shared Director of Finance setting out the Council Tax Resolution for 2014/2015.

 

The Mayor moved the budget report incorporating the following amendment to recommendation 2.1 b) in the Council Tax Resolution 2014/2015, which was seconded by Councillor Watkin:

 

“that the capital programme shall be set out in the Cabinet report with an addition of £80k added to the community and leisure services capital budget to fund approved improvements in non Council owned community centres where the need for support is established.”

 

Councillor Bell moved the following amendment which was seconded by Councillor Dhindsa:

 

“Economic Impact Reserve – Proposed forecast balance 31/3/14 £1,836,900–

We propose to draw down this reserve by £1,200,000 (Remained unchanged since 2010/11)

Future Pension Funding Reserve – Proposed forecast £1,375,000

We propose to draw down the reserve by £507,800 (Remained unchanged since 2005/6)

Therefore we propose to use a very modest amount of £1,707,800 of the reserves on new expenditure

 

We would fund projects related to combatting and addressing domestic violence with the Women’s Centre.

2014/15          £44,000

2015/16          £44,000

2016/17          £44,000

2017/18          £44,000 – Fund the project for 4 years (£44,000x4= £176,000 funded from drawing down on reserves)

 

Anti-social behaviour officer.

Anti-social behaviour officer – £40,000

2014/15          £40,000

2015/16          £40,000

2016/17          £40,000

2017/18          £40,000 – Fund the project for 4 years (£40,000x4=£160,000 drawing down from the reserves)

 

St Albans Road Regeneration Investment

2014/15 £1,500,000

 

The Mayor’s Office

The office costs £158,500 (p102-Budget Book)– on top of this a salary of £65,738 it comes to £224,238. We propose a cut of 20% to the office costs – saving of £31,700

We propose a cut of a Budget to pay for the Lib Dem Group hospitality involved in their meetings which comes to £350. (p103 Budget Book).

We propose a freeze to the CPZ for this year.

Proposals

2014/15

2015/16

2016/17

2017/18

Total cost of proposals

Womens Centre

44,000

44,000

44,000

44,000

176,000

Anti Social Behaviour

40,000

40,000

40,000

40,000

160,000

St Albans Road

1,500,000

 

 

 

1,500,000

Mayors Office

-31,700

-31,700

-31,700

-31,700

-126,800

Liberal Democrats Group Hospitality

-350

-350

-350

-350

-1,400

CPZ Freeze

0

0

0

0

0

 

 

 

 

 

1,707,800

 

1,584,000

84,000

84,000

84,000

1,836,000

 

-32,050

-32,050

-32,050

-32,050

-128,200

 

 

 

 

 

 

Use of Reserves

2014/15

2015/16

2016/17

2017/18

Total cost of proposals

Economic Impact Reserve

1,200,000

 

 

 

1,200,000

Pension Fund Reserve

351,950

51,950

51,950

51,950

507,800

Revenue Reserves Balance

-8,413,437

-6,561,427

-6,353,557

-6,503,347

1,707,800

Total Reserves Balance

-13,327,258

-9,916,924

-9,828,554

-9,978,344

 

 

CPZ Freeze Assumptions

Assume no other changes to number of permits issued etc.

In the fees and charges report there was an assumption that if the price goes up then the demand will decrease, therefore no additional income was assumed

Due to this I have not made any changes to income as it can be assumed that demand and income will remain as it currently is if this proposal is implemented.”

 

On being put  ...  view the full minutes text for item 60


 

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