Agenda item

This report fulfils the statutory requirement to agree a budget for 2018/19, comprising both revenue and capital expenditure plans, and to set a Council Tax for the year.  The council tax recommendation is for an increase of 2.98%.  Financial Policy Panel made no recommendation to Council but requested that the report include options for a Council Tax freeze and an increase of 2.98%.

The Council gave consideration to its 2018/19 budget, comprising both revenue and capital expenditure plans and Council Tax amounts for each band of dwelling.  The report took account of the recommendations of the Community & Wellbeing, Environment and Strategy and Resources Committees (appertaining to fees and charges, the revenue budget and capital programme).

In moving the recommendations of the Chief Finance Officer, the Chairman of the Strategy and Resources Committee, Councillor Eber Kington, made a statement to the Council on the budget for 2018/19 to which Councillors Alexander Clarke and Kate Chinn responded.

Upon being put, the MOTION was CARRIED, there being 29 members in favour and 6 against and 1 abstention as follows:

Accordingly, it was

RESOLVED that:

(1)          That it be noted that, under delegated powers, the Chief Finance Officer calculated the Council Tax Base as 32,658.06 (Band ‘D’ equivalent properties) for the year 2018/19 calculated in accordance with the Local Government Finance Act 1992, as amended (the “Act”).

(2)          That the following estimates recommended by the policy committees be approved:-

a)            The revised revenue estimates for the year 2017/18 and the revenue estimates for 2018/19

b)           The capital programme for 2018/19 and the provisional programme for 2019 to 2021, as summarised in the capital strategy statement.

(3)          That the fees and charges recommended by the policy committees be approved for 2018/19.

(4)          That the Council Tax Requirement for the Council’s own purposes for 2018/19 is £6,289,942.

(5)          That the Council receives the budget risk assessment at Annexe 6 and notes the conclusion of the Chief Finance Officer that these budget proposals are robust and sustainable as concluded in this report.

(6)          That the Council receives the Chief Finance Officer Statement on the Reserves as attached at Annexe 8.

(7)          That the Council agrees the Treasury Management Strategy, Prudential Indicators and Authorised Limits for 2018/19 as set out in Annexe 11 including:-

a)            Affordability Prudential Indicators

b)           The actual and estimated Capital Financing Requirement

c)            The estimated levels of borrowing and investment

d)           The authorised and operational limits for external debt

e)            The treasury management prudential indicators

(8)          That the following amounts be now calculated for the year 2018/19 in accordance with sections 31 to 36 of the Act:

a)            £56,138,698 being the aggregate of the amounts which the Council estimates for the items set out in section 31A(2) of the Act

b)           £49,848,756 being the aggregate of the amounts which the Council estimates for the items set out in section 31(A)3 of the Act

c)            £6,289,942  being the amount by which the aggregate at 8(a) above exceeds the aggregate at 8(b) above, calculated by the Council, in accordance with section 31A(4) of the Act, as its council tax requirement for the year.

d)           £192.60 being the amount at 8(c) above divided by the amount at 1. above, calculated by the Council, in accordance with section 31(B) of the Act, as the basic amount of its council tax for the year

(9)          To note that Surrey County Council and Surrey Police Authority have issued precepts to the Council in accordance with Section 40 of the Local Government Finance Act 1992 for each category of dwellings in the Council’s area as indicated in the table below:-

SURREY COUNTY COUNCIL

SURREY POLICE AUTHORITY

(10)       That the Council, in accordance with Section 30 to 36 of the Local Government Finance Act 1992, hereby sets the aggregate amounts shown in the tables below as the amounts of Council Tax for 2018/19 for each of the categories of dwellings.

EPSOM AND EWELL BOROUGH COUNCIL

AGGREGATE OF COUNCIL TAX REQUIREMENTS