Budget Fair 2015 Andrew Pate Strategic Director Resources
Budget Fair 2015 Andrew Pate – Strategic Director (Resources) Tim Richens – Chief Financial Officer Bath and North East Somerset – The place to live, work and visit
Corporate Strategy 2016 – 2020 Bath and North East Somerset – The place to live, work and visit
Bath and North East Somerset – The place to live, work and visit
• • • Transport New homes and jobs Cleaner, healthier communities • 3 Directorate Plans (Resources, Place, People) A strong economy and growth • Independence for older people Investing in our young people A focus on prevention Corporate Strategy 2016 -2020 • Putting residents first in everything we do A new relationship with customers & communities An efficient business • Tackling waste and increasing efficiency
The Financial Challenge Bath and North East Somerset – The place to live, work and visit
Savings Delivered 2013/14 to 2015/16 Bath and North East Somerset – The place to live, work and visit
Bath and North East Somerset – The place to live, work and visit
Revenue Budget Gap and Key Funding Streams 2015/16 to 2019/20
Business Rate Retention - Headlines Chancellor’s Announcement 5 th October » Business Rates to be 100% retained by Councils by 2020. » Local flexibility to reduce rate to attract new business. » Increase rate by up to 2 p subject to a directly elected Mayor and Business Support. » Will be “Fiscally Neutral” - local government will need to accept new unfunded responsibilities. » Opportunity to “grow local economy and balance the books”. » More detail in Autumn Statement Bath and North East Somerset – The place to live, work and visit
What This Means » A Sustained Financial Challenge for the Council » Further detail to be announced. » The Council is developing a Budget for 2016/17 and a Financial Plan to 2020 to address the challenge. » Already identified significant savings and new income opportunities (Cllr Gerrish more details) » Directorate Plans set these out further – for consideration by PDS Panels (Nov & Jan) – details on Council Website » More work to be done during 2016. Bath and North East Somerset – The place to live, work and visit
Budget – Key Dates » November & January - Policy Development & Scrutiny Panels » 25 th November – Autumn Statement » Late December - Government Financial Settlement » January – Cabinet Draft The Budget Proposal » 10 th February - Budget Report to Cabinet » 16 th February - Budget Report to Council » 23 rd February – Reserve Council Date Bath and North East Somerset – The place to live, work and visit
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