Financial Context Spending Gross Annual Budget = £310.6m ( VFM profile - positive) Funding.

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Presentation transcript:

Financial Context Spending Gross Annual Budget = £310.6m ( VFM profile - positive) Funding

Financial Challenge over Next 4 Years 2015/16 – 2018/19 National Insurance Grant Cut Inflation Formula 2% Council Tax rise pa = £61m savings required (min!) Pressures Challenge On top of £50m successfully delivered for CSR1 Partially Offset By

£61m over four years – not worse case! - After assuming 2% per annum increase in police council tax - Before any internal growth requiring additional savings on top - ‘Fairly’ certain for 2015/16.

£144.28/ Year 2% = 6 p /week 3.5% = 9 p /week Current Plan is a 2% increase Still Requires £14.5m Savings (min) An extra 1.5% increase raises £1.2 million saves 24 police jobs (average) ‘Referendum’ trigger - would cost £2m - up to not beyond! Increasing police council tax by 3.5% ?