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Financial Context

Spending. Funding. Financial Context. Gross Annual Budget = £316.7m ( VFM profile- largely positive). Pressures. Income. Challenge. New Financial Challenge 2015-16. Grant Cut. £20m savings required. 2% Council T ax rise. Inflation. Partially Offset By. =. National Insurance.

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Financial Context

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  1. Spending Funding Financial Context Gross Annual Budget = £316.7m ( VFM profile- largely positive)

  2. Pressures Income Challenge New Financial Challenge 2015-16 Grant Cut £20m savings required 2% Council Tax rise Inflation Partially Offset By = National Insurance Other • On top of £50m successfully delivered for CSR1 • But what about further possible cuts in 2016/17?

  3. Precept Rises and referenda Officer Impact: 19.5% = 330 10% = 169 3.5% = 59 2% = 34 £2.83 p a £4.95 pa £14.15 pa £27.53 pa Referenda Trigger and Impact

  4. Precept Rises and referenda • Current Precept = £141.47. Each 1% increase = £0.8m • 2% Increase = £2.83 pa, saves 34 officer posts, still requires £20m savings • 3.5% increase = £4.95, saves 59 posts, still requires near £19m savings • 10% increase = £14.15 pa, saves 169 posts, still requires £12.3m savings • 19.5% increase = £27.53, saves 330 posts, still requires £4.7m savings • Referenda beyond 2%!

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