Greenwich Council

Issue - decisions.

Budget and Council Tax Setting

01/03/2018 - Budget and Council Tax Setting 2018/19

Noted that the Adult Social Care Precept for 2018/19 is set at 3%, as agreed by Council on 22 February 2017 (Section 5 of the report)


Agreed a council tax rise of 2.99% in support of homelessness and inflationary pressures, at a cost of 62p per week at Band D (Section 7 of the report)


Noted that the GLA precept for 2018/19 is due to increase by £14.21 per year at Band D, a rise of 5.1% (Section 7 of the report)


Noted that, subject to a detailed decision to be taken by the Leader, the Council will be participating in the London Business Rates Pilot Pooling Arrangements (Section 5 of the report)


Agreed the addition to the council tax in 2018/19 on the taxpayers in premises surrounding the garden in Gloucester Circus SE10 (Section 7 of the report)


Approved the overall council tax level and the relevant statutory calculations and resolutions (Section 7 and Appendix B of the report)


Noted the authority’s Medium Term Financial Strategy (MTFS) is balanced through to 2019/20 and acknowledge that significant pressures are being experienced across services (Section 8 of the report)


Agreed the schools funding formula for use in 2018/19 and 2019/20 as presented to Schools Forum on 18 January 2018 (Section 9 of the report)


Noted the level of Dedicated Schools Grant for Education purposes and that the budget proposals for 2018/19 were agreed by the Schools Forum on 18 January 2018 (Section 9 of the report)


Noted that the Prudential Code requires the setting and revision of the indicators to be carried out by the body that takes decisions in respect of the Borough’s budget


Approved the Prudential Indicators (Section 10 and Appendix C of the report) for the period 2016/17 – 2020/21


Agreed that the indicators, other than the authorised borrowing limit, which must be set and revised by Council, are initially set each year by the authority as part of its budget setting process and are monitored and revised as appropriate during the year by Cabinet


Agreed the arrangements for determining the Minimum Revenue Provision (Section 10 and Appendix D of the report) from 2018/19 onwards


Noted the comments on financial standing, future risk and robustness of the budget process (Section 11 Appendix E of the report).


Noted the comments of the Cabinet on 21 February 2018.