Cabinet Member for Finance and Performance

Cabinet considered the report of the Chief Financial Officer and the above Cabinet Member, which set out the Council’s Medium Term Financial Plan (MTFP) and the 2018/19 budget proposals.

The Cabinet Member introduced the report, referred to the localisation of business rates and thanked the Chief Financial Officer for his liaison and input.  He advised that Cabinet would be recommending to Council an increase of £4.95p per annum on a Band D property but pointed out that Swale still had the second lowest Council Tax in Kent.

The Cabinet Member for Finance and Performance referred to the investment in retail development, the multi-storey car park, hotel and cinema as part of the Sittingbourne Town Centre Regeneration Scheme and advised that there was budget provision for £2million for Sittingbourne and Sheerness Leisure Centres and half a million pounds set aside for play equipment in the Borough.  He added that viable housing options were being looked at.

Finally, the Cabinet Member for Finance and Performance drew attention to the tabled paper which contained an additional recommendation to include an extra £50,000 to be allocated from reserves for air quality initiatives.

In response to questions from a Member, the Cabinet Member advised that extra reserves were prudent so that Swale Borough Council (SBC) could be more secure in the future, and advised that the funds put aside for the new General Data Protection Regulations (GDPR)  being introduced in May 2018 was not detailed and was a precaution as SBC’s responsibilities were not yet known.  The same member highlighted that costs for the replacement swing bridge in Faversham had increased significantly and drew attention that the figure of £9k for Oare Gunpowder Works on page 24 of the report should be £19k.  There was a discussion about the increasing costs into the future of the Lower Medway Internal Drainage Board (LMIDB), and the Cabinet Member for Finance and Performance advised that he sat on the Finance Committee of the LMIDB who worked hard to achieve reasonable rates.  He added that he would like to see LMIDB itemised in Council Tax bills like the emergency services, so that the public could see the amount paid to the organisation.

Recommended:

(1) That the 2018/19 revenue budget proposals be approved.

(2) That the medium term funding position be noted.

(3) That the draft capital budget be approved.

(4) That the additional amount of Council tax for parish precepts be noted.

(5) That the recommendations of Scrutiny Committee be considered.

(6) That the Minimum Revenue Provision Statement as set out in Appendix IX be approved.

(7) That, in light of the Council motion on air quality on 24 January 2018, within the budget provision be made for an extra £50,000 to be allocated from reserved for air quality initiatives.