Decision Maker: Strategy and Resources Committee
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
The Committee:
(1) Received the Minutes of the meeting of the Financial Policy Panel held on 11 September 2018.
(2) Agreed the following overall revenue budget target for 2019/20:
a) Estimates to be prepared including options to reduce organisational costs by £406,000, subject to government grant announcement, in order 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) That at least £200,000 additional revenue is generated from an increase in discretionary fees and charges;
c) That a provision for pay award is made of £280,000 that represents an increase to the staffing budget of 2.5%, 1% for cost of living and 1.5% for progression.
d) That further savings and efficiencies be identified to address the budget shortfall of £113,000 in 2019/20;
e) That £200,000 from the financial gain of being part of the Pilot for Business Rates is used to mitigate the potential payment of £625,000 to government for ‘negative RSG’.
Report author: Lee Duffy
Publication date: 26/09/2018
Date of decision: 25/09/2018
Decided at meeting: 25/09/2018 - Strategy and Resources Committee
Accompanying Documents: