Medium Term Finance Strategy 2019/20 How the Councils finances work - - PowerPoint PPT Presentation
Medium Term Finance Strategy 2019/20 How the Councils finances work Spend on Services Funding Sources REVENUE INVESTMEN OTHER SUPPORT 45M CONTRIBS TS 2 M GRANT NEW USE OF RENTS HOMES RESERVES 4 1/2 M BONUS 1 1/2 M M
Spend on Services
Funding Sources
SPECIFIC GRANTS & REIMBURSEMENTS £20 M Examples: Housing Benefit Subsidy RENTS £4 1/2 M FEES & CHARGES £8 M
BUSINESS RATES £2 M NEW HOMES BONUS £1 M INVESTMEN TS £2 M REVENUE SUPPORT GRANT
USE OF RESERVES £1/2 M COUNCIL TAX £7 M
OTHER CONTRIBS
Funding Gap £1M
IDEAS TO: Help close the Funding Gap Build in capacity for future pressures and growth Right things to do for the borough
Changes already in progress Projects within current resources
e.g. Council Tax Discounts
Projects needing resources Potential Savings £1.5M + B and C Lists
Opportunities built in £522k Funding Gap £215k
£215k
£605 k £816 k £1004 k £175 k £342 k £477 k
2019/20 2020/21 2021/22 2022/23
F u n d i n g G a p £0
Assume £5 per year Council Tax increase Council Tax will be £175.22 by 2022/23 Opportunities plan approved by Executive 7 January Invest to save £600k for project to save money or generate income
Funding Review ?
(RSG, Business rates need)
Pension and Pay Policy Changes? New Homes Bonus? Universal Credit? Land Charges? National Local Economy after March 2019? Opportunities Plan?
(Are the assumptions correct?)
Things that matter to Fareham
(e.g. corporate priorities)
Income decisions?
(e.g. Investment Properties, Parking)
HCC Policy changes?
(e.g. BRT, Parking Enforcement)
Scrutiny Panel Comments to Feb Executive Final Report to Executive
February Recommend Council Tax Increase to Full Council 22nd February Full Council set Council Tax for 2019/20