Report by Mr Paul Carter, Leader, Mr Nick Chard, Cabinet Member for Finance, Mr Peter Gilroy, Chief Executive and Lynda McMullan, Director of Finance)
(1) This report informed Cabinet of the Local Government Provisional Finance Settlement for the years 2009 to 2011, which was announced on 26 November 2008. Mr Chard said that the Council’s funding was a cash increase of some £5.1m which equated to 2% over the 2008/09 settlement on a “like for like” basis. If retail price Inflation was taken into account, then the figure was effectively a cut of 1%. Lynda McMullan said the Provisional Grant Settlement for 2009/10 and 210/11 was exactly as announced in the three year settlement and therefore there were no changes expected to the Council’s financial planning assumptions as a result of this announcement. Mr Carter said that although the level of Council Tax for 2009/10 was currently proposed at 2.85%, nonetheless, Cabinet would be looking to see if that could be reduced further.
(2) Cabinet then noted the contents of the report.