Budget Time Again! Budget Consultation 28th August to 20th October 2017 Alison Turner CPFA Group Manager Finance (Section 151 Officer) October 2017

Annual Budget Consultation Summary of Last Years Consultation 1,474 completed forms, higher than previous year. Overall satisfaction up at 75.7% 45.1% said Council Tax represented VFM, down slightly (40.2% didn’t know?) Waste Collection, Recycling and Emergency Response (Flooding) most important services. 24% were in favour of reducing/stopping services rather than increasing Council Tax (46.7% against) 71% in favour that SDC should charge to cover service provision rather than subsidise

How much of a typical band D Council Tax demand does SDC get SDC is the billing authority for the area and collects the following; Typical band D bill £ 1,595.06 Somerset County Council £ 1,124.79 Avon & Somerset Police £ 181.81 Devon & Somerset Fire & Rescue £ 81.57 Parishes £ 54.57 Sedgemoor District Council £ 152.32 (Includes £1.80 for Somerset Rivers Authority Precept)

How each £ of Council Tax paid is shared out

Sedgemoor District Council What do we spend Figures are 2017/18 Budgets (approved 22nd Feb 2017) Annual net budget General Fund (non- housing) £18.5 million Capital programme £1.7 million General Fund

Where we spend our money (£million) Other is

Main Funding of Net Expenditure

Future Settlement Funding Assessment (SFA) Four year settlement offered in finance settlement – Efficiency Plan Revenue Support Grant disappears by 2020/21 Business Rates baseline increased in line with inflation figures given in finance settlement (system will change 2019/20)

Main Funding of Net Expenditure Business Rates Increase in the multiplier 3.22% Growth 1% 100%Business Rates Retention Consultation Business Rates Pooling – gain 16/17 £515k – gain est 17/18 £500k Council Tax SDC tax rise £5 - referendum limit Tax base 1.5%, 1% for the following years Somerset Rivers Authority Contribution/Precept Drainage Board Levies £1.3 million (£33.69 Band D, 22%)

New Homes Bonus Reward for each additional dwelling- originally 6 years 2017/18 5 years 2018/19 onwards 4 years Growth baseline no payments for first 0.4% = 200 Band D Number of new homes based on housing trajectory 29% of NHB used for Revenue 17/18, 45% 18/19 thereafter

Issues - National & Local Local Issues Service and resource implications of the Hinkley Point C project Implications of County savings The National Picture Future of Local Government Funding Future of New Homes Bonus Implications of Universal Credit Land Registry Reforms Brexit

Estimated General Fund Funding Gap over 5 years Minimum Balances £1.5million

Adjusted Medium Term Savings Plan The funding gap per annum is still £166k

Balancing the Medium Term Budget : Continuation of the Resource Allocation Panel (RAP) No additional budgetary provision for inflationary increases on contracts/purchases Explore opportunities for efficiency reductions through new ways of working as part of the Customer Access Programme Shared Services Agenda, where the business case demonstrates savings without impacting on service levels. Continue to use a percentage of New Homes Bonus to fund revenue figures. Currently 45% is funding revenue.

Budget Timetable 2018/19 * 2016/17 Outturn Position 23rd June a Carry Forward report Initial MTFP 2nd Aug Budget Consultation 28th Aug-20th Oct   Continue Work on budget proposals Ongoing Consultation with Trade Unions November Full MTFP to Executive 22nd Nov Budget Consultation Results to Executive Capital Programme 20th Dec Leaders High Level Budget Proposals Scrutiny of Leaders Proposals 3rd Jan Tax and Rent Set Executive 7th Feb Tax and Rent Set Council 20th Feb

QUESTIONS?