Decision details

* Report of the Chief Executive - The Council's Budget 2006/2007 to 2008/2009

Decision Maker: Assembly

Decision status: Approved

Is Key decision?: Yes

Is subject to call in?: No

Decisions:

Received a report seeking the Assembly’s approval to set a revenue budget and Council Tax for 2006/2007 and a Capital Programme for 2006/2007 to 2009/2010.  The report also presented a Medium Term Financial Strategy and Capital Strategy for adoption by the Council.

 

Agreed:

 

1.  A Revenue budget and Council Tax increase of 3.49% for the London Borough of Barking and Dagenham and noted the 13.35% increase in the Greater London Authority precept giving an overall increase of 5.67% for 2006/2007 as set out in Appendix 1 of the report;

 

2.  A Capital Programme for 2006/2007 to 2009/2010 in accordance with the recommendations approved by the Executive on 21 February 2006 as set out in Appendix 3 of the report;

 

3.  The position on reserves as set out in paragraphs 3.1 to 3.4 of the report;

 

4.  The Statutory Budget Determinations and Amount of Council Tax for the London Borough of Barking and Dagenham:

 

i)  Noted that at its meeting on 20 December 2005 the Executive calculated the amount of 50,648.4 as its Council Tax Base for the year 2006/2007 in accordance with Regulation 3 of the Local Authorities (Calculation of Council Tax Base) Regulations 1992 made under Section 33(5) of the Local Government Finance Act 1992.

 

ii)  That the following amounts be now calculated by the Council for the year 2006/2007 in accordance with Sections 32 to 36 of the Local Government and Finance Act 1992:

 

(a)

£513,188,000

being the aggregate of the amounts which the Council estimates for the items set out in Section 32(2) (a) to (e) of the Act

 

(b)

£265,764,000

being the aggregate of the amounts which the Council estimates for the items set out in Section 32(3)(a) to (c) of the Act

 

(c)

£247,424,000

being the amount by which the aggregate at 2(a) above exceeds the aggregate at 2(b) above, calculated by the Council, in accordance with Section 32(4) of the Act, as its budget requirement for the year

 

(d)

£200,313,000

being the aggregate of the sums which the Council estimates will be payable for the year into its General Fund in respect of redistributed non?domestic rates, revenue support grant reduced by the amount of the sums which the Council estimates will be transferred in the year from its General Fund to its Collection Fund in accordance with Section 97(3) of the Local Government Finance Act 1988 and further increased by the amount of any sum which the Council estimates will be transferred from its Collection Fund to its General Fund pursuant to the directions under Section 98(4) of the Local Government Finance Act 1988 made on the 7th February 1994.

 

(e)

£930.15

being the amount at 2(c) above less the amount at 2(d) above, all divided by the amount at 1 above, calculated by the Council, in accordance with Section 33(1) of the Act, as the basic amount of its Council Tax for the year.

 

(f)

Valuation Bands

 

A

B

C

D

E

F

G

H

£

 

£

£

£

£

£

£

£

620.10

 

723.45

826.80

930.15

1,136.85

1,343.55

1,550.25

1,860.30

 

being the amounts given by multiplying the amount at 2(e) above by the number which, in the proportion set out in Section 5(1) of the Act, is applicable to dwellings listed in a particular valuation band divided by the number which in that proportion is applicable to dwellings listed in valuation Band 'D' calculated by the Council, in accordance with Section 36(1) of the Act, as the amounts to be taken into account for the year in respect of categories of dwellings listed in different valuation bands.

 

 

iii)  Noted that for the year 2006/2007 the Greater London Authority has stated the following amounts in precepts issued to the Council, in accordance with Section 40 of the Local Government Finance Act 1992 for each of the categories of dwellings shown below:

 

Precepting Authority - Greater London Authority

 

Valuation Bands

 

A

B

C

D

E

F

G

H

£

 

£

£

£

£

£

£

£

192.41

 

224.47

256.54

288.61

352.75

416.88

481.02

577.22

 

iv)  That, having calculated the aggregate in each case of the amounts at 2(f) and 3 above, the Council, in accordance with Section 30(2) of the Local Government Finance Act 1992, hereby sets the following amounts as the amounts of Council Tax for the year 2006/2007 for each of the categories of dwellings shown below:

 

Valuation Bands

 

A

B

C

D

E

F

G

H

£

 

£

£

£

£

£

£

£

812.51

 

947.92

1,083.34

1,218.76

1,489.60

1,760.43

2,031.27

2,437.52

 

5.  The Medium Term Financial Strategy as set out in Appendix 4 of the report;

 

6.  The Capital Strategy as set out in Appendix 5 of the report; and

 

7.  The Prudential Indicators as set out in Appendix 6 of the report.

 

Councillor Bramley, Executive Portfolio Holder with responsibility for financial planning and budgetary control, placed on record his thanks to officers and gave praise to Councillor Geddes, the previous Portfolio Holder for the way in which the Council’s finances had been managed and the monitoring arrangements that were put in place which has led to a balanced budget for 2005/2006.

Report author: Rob Whiteman

Publication date: 03/03/2006

Date of decision: 01/03/2006

Decided at meeting: 01/03/2006 - Assembly

Accompanying Documents: