Agenda item

·         This report fulfils the statutory requirement to agree a budget for 2016/17, 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 £4.95 per annum (Band D property) an equivalent of 2.8% increase.

·         Financial Policy Panel made no recommendation to Council but requested that the report includes four options for Council Tax (a freeze, an increase of 1.52%, an increase of 1.98% and an increase of £4.95) 

·         The report also recommends the approval of the Financial Plan for 2016-20, including a new Medium Term Financial Strategy

This is an amended report, issued on 10 February 2016, following the receipt of the Government’s final financial settlement on 8 February 2016.

The Council gave consideration to its 2016/17 budget, comprising both revenue and capital expenditure plans and Council Tax amounts for each band of dwelling which took account of recommendations of the Environment, Leisure, Environment, Social and Strategy and Resources Committees (appertaining to fees and charges, the revenue budget and capital programme).

An amended report had been issued on 10 February 2016, following the receipt of the Government’s final financial settlement on 8 February 2016.  The amended report was based on a recommended increase of £4.95 per annum (for Band D properties) in Council Tax reflecting the final settlement which had allowed District Councils to increase council tax by up to £5 or 2% whichever provided the higher increase in income.

In moving the recommendations of the Director of Finance and Resources, the Chairman of the Strategy and Resources Committee, Councillor Neil Dallen, made a statement and presentation to the Council on the budget for 2016/17 to which Councillors Alexander Clarke and Vince Romanguolo responded.

Upon being put, the MOTION was CARRIED, there being 25 members in favour, 5 against and 2 not voting

RESOLVED:

(1)          That it be noted that, under delegated powers, the Director of Finance and Resources calculated the amount of the Council Tax Base as 32,013.5 (Band ‘D’ equivalent properties) for the year 2016/17 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 2015/16 and the revenue estimates for 2016/17

b)           The capital programme for 2016/17 and the provisional programme for 2017 to 2019, as summarised in the capital strategy statement.

(3)          That the fees and charges recommended by the policy committees be approved for 2016/17.

(4)          That the Council Tax Requirement for the Council’s own purposes for 2016/17 is £5,828,698.

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

(6)          That the Council receives the Director of Finance & Resources’ Statement on the Reserves as attached at Appendix 8.

(7)          That the Council agrees the Prudential Indicators and Authorised Limits for 2016/17 as set out in Appendix 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 2016/17 in accordance with sections 31 to 36 of the Act:

a)            £56,512,986 being the aggregate of the amounts which the Council estimates for the items set out in section 31A(2) of the Act

b)           £50,684,288 being the aggregate of the amounts which the Council estimates for the items set out in section 31(A)3 of the Act

c)            £5,828,698  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)           £182.07 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 2016/17 for each of the categories of dwellings.

EPSOM AND EWELL BOROUGH COUNCIL

AGGREGATE OF COUNCIL TAX REQUIREMENTS