Decision details

Budget Targets 2018/19

Decision Maker: Strategy and Resources Committee

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Decision:

The Committee:

(1)          Received the Minutes of the Meeting of the Financial Policy Panel held on 12 September 2017;

(2)          Agreed the following overall revenue budget target for 2018/19:

a)            the preparation of estimates including options to reduce organisational costs by £588,000, subject to government grant announcement, to minimise the use of working balances and maintain a minimum working balance of £2.5 million in accordance with the Medium Term Financial Strategy;

b)            the generation of at least £200,000 additional revenue from an increase in discretionary fees and charges, based on minimum overall increase in yield of 3%;

c)            the provision of £228,000 for the pay award, representing an increase to the staffing budget of 1.5%.

(3)          That further savings and efficiencies be identified to address the budget shortfalls of £90,000 in 2018/19, £577,000 in 2019/20 and £791,000 in 2020/21;

(4)          Noted that the Capital Member Group would limit schemes included within the capital expenditure programme to enable the retention of agreed minimum level of capital reserves.

 

Report author: Lee Duffy

Publication date: 27/09/2017

Date of decision: 26/09/2017

Decided at meeting: 26/09/2017 - Strategy and Resources Committee

Accompanying Documents: