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What's On Sun, 5th July 2020

News  »  WBC DRAFT BUDGET RECOMMENDED TO FULL COUNCIL



   WBC DRAFT BUDGET RECOMMENDED TO FULL COUNCIL    5 February, 2020

News Release

Issued by Waverley Borough Council

 

Date: Wednesday 05 February 2020

Waverley Budget proposals recommended for approval by Full Council

Waverley Borough Council’s Executive last night unanimously approved the draft budget scheduled for presentation at the Full Council meeting on 18 February. The annual budget sets out how the council will protect frontline services, generate income and make savings in the coming financial year.

The draft budget includes identified operational and staffing savings of almost £700,000 over last year. A 1.9% increase in Council Tax (in line with inflation) and growth in the Council Tax base will add £378,000 in extra income. In total, almost £1.9m in savings and new income have been identified.

This means that, despite the significant fall in funding driven by Central Government, the council has managed to balance the books, while maintaining service levels and protecting funding for community, arts and voluntary sector groups.

Councillor Mark Merryweather, Waverley Borough Council Portfolio Holder for Finance, Assets and Commercial, said: “In the face of severe financial pressures we have produced a budget that is balanced and fair, which maintains services and grants to our voluntary sector partners to help the most vulnerable members of our communities.

“The measures we’ve taken mean we’ve managed to avoid transferring much of the increased financial burden to our residents and have been able to limit the increase in our portion of Council Tax to the rate of inflation – at just 7p per week for an average band D property.

“However, we face even more challenging years ahead. The Government will not only cut what’s left of the funding we get from it, but it will also take from us the last remaining pennies-in-the-pound in rates that we collect for it from Waverley’s businesses. We project this will see our budget fall by more than a quarter over the coming four years.

“The council set up a working group in 2017 to identify cost savings and new income streams to offset this. We’re accelerating that work, but we need to be realistic about whether the strategies identified by it so far can deliver the income we’ll need in time. So we will also be calling on the Government to freeze, if not reverse, its unfair funding policies.”

 

Waverley Borough Council

 

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