The purpose of this budget book is to provide detailed estimates of the Cabinet’s proposed spending plans for 2007/08 in support of the 2007/08 Policy and Budget Framework. It includes detailed Portfolio revenue estimates and the capital programme.
The budget proposals for 2007/08 have been developed within the framework of the Council’s budget strategy agreed by Cabinet on 31st October 2006. The main features are:
- The net revenue budget proposed for 2007/08 is £15,396,800 (a 2.4% increase in costs) with a Borough Council Tax increase of 2.5% from £94.39 to £96.75 for Band D properties.
- A revenue support grant settlement of £9.415m. The basic grant has increased by 1.6% from 2006/07.
- £536,000 of ongoing revenue growth items in support of Council Plan priorities.
- Efficiency savings representing 2.6% (£395,000) of total net revenue expenditure.
- A revised capital programme of £26.4m incorporating proposed new allocations of £1.5m for new capital bid schemes, £2.9m for asset and infrastructure schemes and £1.6m for ICT and vehicle replacement.
- The forward budget forecast for 2008/09 and 2009/10 is balanced and includes savings and additional income targets.
- Budget risks have been identified and risk reserves maintained in accordance with the budget strategy.