Agenda item

That the Revenue Budget for 2014-15, as set out in the report and appendices, be approved.

The Assistant Director Finance & Audit introduced a report which set out the proposed Revenue Budget for 2014/15 and sought Cabinet approval to recommend to Council.

The budget had been prepared in the context of a continued reduction in funding from central government, as confirmed in the Local Government Finance Settlement, as well as increased demand for Council services.  The Cabinet considered the key elements of the budget including the proposal to freeze Council Tax, set Council house rents and approve the Business Rates Policy 2014-15.  Members noted the directorate pressures for 2014-15 which included £3.3m additional revenue for Children’s Social Care plus a further £2m one off contribution which was available if required.  Commissioners commented on the £12.5m savings proposals and welcomed that the fact that to date most savings had been achieved through transformation of services and business efficiency.  However, Members recognised that it would be increasingly difficult in future years to continue to identify savings in such ways.

The Business Rates Policy for 2014/15 was discussed and it was also proposed and agreed that the policy for 2015/16 be amended so that no charity or non-profit making body received more than 80% charity relief.  Members emphasised the importance of clearly communicating the changes as soon as possible.

The Cabinet welcomed the work that had been undertaken to present a balanced budget which continued to achieve challenging savings targets whilst maintaining frontline services wherever possible.  It was agreed to recommend the revenue budget to Council.

Recommended –  That the Revenue Budget for 2014-15, as set out in the report and appendices, be approved.