Received a report, in accordance with the Council's Constitution, seeking approval for the Revenue Budget and setting of Council Tax, prior to submission to the Assembly for its consideration.
Agreed, to recommend the Assembly to agree:
1. The budget, as set out in Appendices A and B of the report;
2. A Council Tax increase of 3.9% (split London Borough of Barking and Dagenham 3.46% and the Greater London Authority precept 5.5%), as set out in Appendix C of the report;
3. The three year planning figures arising from the budget proposal indicated within the Medium Term Financial Strategy, attached as Appendix D to the report;
4. The Medium Term Financial Strategy to assist the Council in future decision making on the budget and that it is reviewed on an annual basis;
5. The position on reserves as set out in paragraph 2.4 of the report;
6. To note the need to identify relevant efficiency gains throughout the organisation of up to £13.5m over a 3 year period to meet the required Government targets and produce an Annual Efficiency Statement (set out in paragraph 8.3 of the report);
7. To delegate to the Director of Finance the responsibility to allocate initial savings targets across all services for the 2006 / 2007 budget process to commence in April 2005; and
8. That £200,000 be allocated from contingency in 2005 / 2006 to address a continued shortfall in land charge income.