Agenda item

The report outlines the latest General Fund Budget position for 2017/18.  Members are reminded of the need to achieve savings throughout the four-year period covered by the Financial Strategy.  Information is provided on the details of the provisional Local Government Finance Settlement 2017/18 and the Council’s financial position following this.

The Joint Overview and Scrutiny Committee was requested, in the light of the significant budget shortfall, to consider the cost savings, income generation and growth proposals identified in this report and their observations are set out in the report, including any proposals on how Waverley’s Budget can be balanced in 2017/18.

Recommendation

It is recommended that the Executive, after considering comments from the Joint Overview and Scrutiny Committee, makes the following recommendations to Council, to:

1.         agree a £5 per band D equivalent increase for Waverley’s element of Council Tax for 2017/2018;

2.         implement the income and cost saving proposals as shown at Annexe 4, including any staffing changes;

3.         implement the growth proposals as shown at Annexe 4, including any staffing changes;

4.         approve the changes to Fees and Charges as shown at Annexe 5 and agree to delegate the setting of charges for the use of the new Memorial Hall to the Strategic Director of Operations in consultation with the Leader;

5.         request officers to progress the projects identified in paragraph 15 that will achieve cost savings and/or generate additional income;

6.         approve the General Fund Budget for 2017/18, as amended by the above changes;

7.         approve the updated Financial Strategy, as set out at Annexe 1;

8.         agree that the Executive carries out a review of the Medium Term Financial Strategy and General Fund Budget in the Spring/Summer 2017 and takes any appropriate action in the light of the position at that time;

9.         approve the 2017/18 General Fund Capital Programme and financing proposals totalling £3.3m, as shown at Annexe 7, and the bringing forward of £20,000 of the new building control system budget into 2016/17;

10.       suspend, in the light of the significant cut to Waverley’s New Homes Bonus,  the progression of all other major capital schemes that do not appear in the capital programme and that do not generate a positive revenue benefit, with this position being reviewed in the Spring/Summer 2017; and

11.       agree that the budgets for capital schemes marked with an asterisk on the schedules be approved, but spending on these projects to be subject to the agreement of the Director of Finance and Resources and Finance Portfolio Holder or the Executive, if appropriate.

The reports from the Executive in respect of the 2017/18 budget are set out at Agenda Item 8 to the Council agenda, incorporating:-

8a.       General Fund Budget Revenue and Capital – 2017/18

8b.       Housing Revenue Account Business Plan, Revenue Budget and Capital Programme 2017/18

8c.       Council Tax Setting 2017/18 and Pay Award.

These reports have been dealt with at Agenda Item 8 of the Council agenda.