The Leader and Cabinet Member for Finance submitted a report detailing:-
· The Capital Programme 2015/2016 to 2017/2018 (Section A)
This sets out the draft Capital Programme and a forecast of the available resources. In view of the continued very difficult budget situation the report recommended that the Programme be limited to those schemes that are fully funded from external sources.
· The Revenue Budget 2015/2016 (Section B)
Section B addressed the revenue budget and also outlined;
· the final Local Government Finance Settlement for 2015/16
· Forecast outturn for 2014/15
· The budget strategy for 2015/16 and the approach to balancing the budget.
The report also examined the robustness of the assumptions behind the budget forecast and provided an assessment of the adequacy of the Council’s balances.
The report was prepared on the basis that the Bury element of the Council Tax will be frozen for 2015/2016, to be funded (in part) by £0.774m of Central Government grant.
Cabinet’s attention was also drawn particularly to the fact that despite the extremely challenging local government finance Settlement, and the resultant savings target, the proposed budget places no long term reliance on one-off savings options.
The Leader thanked those Bury residents that had responded during the consultation process which had achieved over 1000 responses.
RECOMMENDATION TO COUNCIL:
The Cabinet is recommended to note the report and request that the Council consider and determine all matters relating to the Budget, the Capital
Programme and the level of the Council Tax for 2015/2016 at its meeting on 25th February 2015.