Issue - meetings

A report by the Assistant Director - Finance

The Assistant-Director Finance presented the report as part of the Council’s budget setting.

Committee were advised that the proposed budget for 2023/24 identified within appendix 1 provided the detailed budget lines for the functions that were contained with the BTAC remit

The proposed increase for band D charge of £3.02 3.95% (band A- £2.01) was the maximum permissible (within referendum principles (£5 or 3% whichever is greater) – composite calculation with BBC)

That would result in a rise to a band D charge of £79.38 (previously £76.36) a weekly charge of £1.52, and a band A would be £52.92 (£50.90) meaning £1.02 per week. 

Overall that increase would provide a small amount (£13k) for new initiatives

Table 1 detailed the impact on budget if the increase was between 0% – 1%, however, such proposals would not generate enough income to cover costs and the balance would need to be met from the BTAC reserves.

To Balance the budget a 2.2% (increase of £1.67) – revised band D of £78.03 (£1.50).   Band A - £52.02 - £1.00 per week.

The Budget was due to be considered by Cabinet on 22^nd February and Council 6^th March which would be the formal budget setting agreement.

The reserve balances were forecasted to be £254,875 at 31^st March 2023 with no current planned future use.  The recommended minimum level of reserves was £70k, (table 3.1)

Committee deliberation followed which included:

The Chairman noted that whilst he appreciated that members would be reluctant to agree any significant increase, he was very mindful that anything less than the 2.2% would result in an impact on BTAC reserves and that moving forward such losses would not be recouped.  Based on the existing and future commitments of BTAC moving forward, the Chairman moved that a 3.95% increase in the BTAC precept.

A number of members agreed the Chairman’s proposal, noting that BTAC already had significant commitments which they felt would only increase over the forthcoming years. Taking into consideration the various reductions available for residents who were means tested, with certain residents only ending up paying an extra 13p, members acknowledged that residents on lower incomes who would be subjected to the various reductions, resided predominantly within Band A properties and were on the lowest precept.

A member questioned the reasoning behind tabling the assumptions for the forthcoming years asking if the committee would be committed to such increases.  The Assistant Director – Finance confirmed that the figures were only an indication of what increases would be achieved by such an increase and BTAC were not committee to them.  They were purely an indication and for information purposes only. 

Noting the cost of the locking of the Central Park gates a member questioned the significant rise in charge but was advised it was for a year, with the smaller charge referred to being for only a six month period at that point in time.

Voicing concern at the proposed level of increase, a member stressed that  ...  view the full minutes text for item 112