The table below shows a summary of the proposed changes to the base budget, used in developing the estimated budgets for each of the subsequent financial years, 2014-2019. The key points to note are as follows:
- An assumption that Council Tax increases will be 2% for the 5 year period 2014-19.
- An estimate of a 1% pay award for all staff groups has been used in each of the five financial years.
- Increments are applied to service support staff, up to the point where they reach the top of the scale.
- Price increases are based on an annual inflation rate of 3% in each year.
- An increase in employer contributions to both of the firefighter pension schemes is anticipated in 2016/17 (£800k).
- The contracted out National Insurance rate will be abolished in 2016/17 with a potential cost to the Authority of £949k.
- The impact of changes to pension schemes in 2014/15 (£43k) and 2015/16 (£150k).
- The back dating of pension contributions relating to the Norman v Cheshire FRA case in 2015/16 (£90k).
- The cost of auto enrolement into the pension schemes will impact in 2017/18 (£248k).
- An assumption that the Council Tax base will increase by 0.5% in each financial year between 2015/16 and 2018/19.
- It is prudent to assume at this point in time that there will be no surplus or deficit on the collection funds in future years.
- Government Grant will reduce by 9.7% in 2015/16 with further average reductions of 6.5% in each of the next three years.
Revenue Budget 2014-2019 | |
| 2014/15 Budget £'000 | 2015/16 Budget £'000 | 2016/17 Budget £'000 | 2017/18 Budget £'000 | 2018/19 Budget £'000 |
Base budget brought forward | 70,936 | 70,521 | 68,788 | 67,949 | 67,238 |
Pay, Prices and Pressures | 2,774 | 1,624 | 2,876 | 1,906 | 1,554 |
Savings | -3,189 | -3,357 | -3,715 | -2,617 | -2,093 |
Net Budget | 70,521 | 68,788 | 67,949 | 67,238 | 66,699 |
Net change | -415 | -1,733 | -839 | -711 | -539 |
Net change % | -0.6% | -2.5% | -1.2% | -1.1% | -0.8% |
| |
Budget funded by: | |
Revenue support grant | 12,959 | 10,115 | 26,241 | 24,535 | 22,940 |
Share of retained business rates 2% | 6,054 | 6,225 | | | |
Council Tax support grant | 5,418 | 5,418 | | | |
Council Tax freeze grant 2011/12 | 1,075 | 1,075 | | | |
Top up | 4,611 | 4,798 | | | |
Council Tax freeze grant 2013/14 | 434 | 434 | | | |
Amount redistributed | 39 | 0 | | | |
Council Tax | 39,746 | 40,723 | 41,708 | 42,703 | 43,759 |
Council Tax surplus | 185 | 0 | 0 | 0 | 0 |
Total Funding | 70,521 | 68,788 | 67,949 | 67,238 | 66,699 |
| |
Council Tax Base | 573,536 | 576,407 | 579,289 | 582,185 | 585,096 |
Band D Council Tax | £69.30 | £70.65 | £72.00 | £73.35 | £74.79 |