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V26-1279 : BUDGET 1999/2000

The report of the Director of Central Services provided a summary of the budget process to date. It showed a revised estimate of net revenue expenditure on General Fund services in 1998/99 of £11.0m. For 1999/2000, it showed a planned net revenue expenditure of £11.66m, with £0.4m met from reserves and a budget requirement of £11.25m. This left an estimated General Fund balance of £2.1m at 31 March 2000, and resulted in an average Council Tax for a Band D property of £88.45 for 1999/2000; an increase of 6.8%.

The Director circulated reports which set out the Council's borrowing limits and formal Council Tax resolution for 1999/2000 for recommendation to Council on 25 February 1999.

The Director highlighted an item within the Renewals Fund of £40,000 for furniture and media equipment in the Council Chamber. This sum would be set aside and a detailed report on the matter would be presented to a future meeting of the Committee

The Chief Executive expressed thanks to all staff involved in the budget process, and gave particular recognition to the Director and his staff. Members endorsed these comments.

RESOLVED

1. That the General Fund revenue spending plans and the use of the Renewals Fund as set out in the report of the Director of Central Services be approved.

2. That the draft resolutions setting out the budget requirement and the calculation and setting of the Council Tax and the borrowing limits for 1999/2000 be approved for determination by the Council on 25 February 1999.


Volume 26 Minute 1279

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