Issue - meetings

(A) Budget Setting 2007/2008

Report number CHF35 by the Corporate Head of Finance & Resources. 

                                                                                                      (Enclosure)

[Budget Book for 2007/2008    - separate enclosure]

(B)  Council Tax setting 2007/2008

DECISION:

PART A

1.            That a general fund budget requirement of £15.137 million for 2007/2008 (inclusive of special expenses)

2.            To approve a 4.94% Council Tax increase (excluding special expenses and parish precepts) for 2007/2008 which equates to an average increase of 4.88% when including special expenses for comparative purposes.

3.            To approve the revised revenue estimate for 2006/2007; original base estimate for 2007/2008; an indicative base estimate for 2008/2009 and 2009/2010 as detailed Appendix A page 1 (as re-issued to the meeting to take account of the Local Authority Business Growth Initiative (LABGI) funding awarded for 2006/7).

4.            To approve increases for fees and charges for 2007/2008 in accordance with the fees and charges strategy and summarised in Report CHFR26 to Cabinet and provided in detail within the council’s budget book.

5.            To approve the following within the 2007/8 revenue estimates (in light of the revised balances as at 31^st March 2007 following confirmation of LABGI funding on 27^th February 2007):-

                                                  i.            an estimate of £250,000 to support one off bids for “invest to save” which will be allocated according to the submitted business case, the proposed efficiency and CIPFA council’s priorities.

                                                ii.            an estimate for one off bids totalling £215,000 made up of one off bids as identified in paragraph 5.3 plus a contribution of £30,750 to Lincolnshire Police Authority to meet the cost of year two agreement towards the cost of the Police Community Support Officers

                                              iii.            a revenue contribution of £400,000 to capital programme to be applied to town centre development schemes in accordance with Category A priorities.

6.            To approve the revised capital programme for 2006/2007 and programme for 2007/2008, 2009/2010, details Appendix A page 10 - 12

7.            To authorise the capital programme funding proposals subject to an annual review of financial options by the Corporate Head of Finance and Resources, in consultation with the portfolio holder, during the preparation of the Statement of Accounts to optimise the use of the council’s resources.

8.            To approve the forecast balances of revenue and capital reserves contained at Appendix A page 2 as re-issued to the meeting to take account of LABGI

9.            To approve the adoption of prudential indicators and limits for 2007/2008 to 2009/2010 contained within part A of Appendix B to this report.

10.       To approve the treasury management strategy for 2007/2008 and the treasury prudential indicators contained within part B of Appendix B to this report.

11.       To approve the investment strategy 2007/2008 contained in the treasury management strategy (part b of appendix b) and the detailed criteria included in annex B1 to appendix B of this report.

Housing Revenue Accounts (HRA)

12.       To approve that dwelling rents are increased in accordance with government guidance.  The average rent will increase by 4.1% (a maximum increase of 4.1% plus £2 for individual cases).

13.       To approve an increase of 4.1% for garage rents and services charges.

PART B: COUNCIL TAX SETTING

1.            That the following amounts be  ...  view the full minutes text for item 118