The Council's budget
Rushcliffe Borough Council Financial Strategy - summary (2017-18 to 2021-22).
The Council has always maintained a strong financial position and tried to spend money wisely to ensure that good quality, high priority services are provided and maintained, while providing good value for money.
This is likely to become increasingly difficult owing to new demands and tighter public finances, which includes the removal of all general central government grant by 2019/20. In order to maintain a strong financial position, the Council has restated its existing financial strategy, the key points of which are:
- Increasing the Council Tax for 2017/18 by 4.0% with increases in future years to fund net expenditure
- Using balances over the medium term, together with a savings target, to balance the budget
- Meeting the savings target through a series of transformation projects included in the five year plan, which are focused on income generation and maximisation, business cost reduction and reviewing other ways of providing services
- A forecast level of general balances of £2.6m throughout the 5 year strategy, with confirmation that the minimum level of general balances should not fall below £1.25m
- A five year capital investment strategy totaling £26.6m over the 5 years.