1. Making Bath & North East Somerset an even better place to live, work & visit BUDGET FAIR 2012 Tim Richens Divisional Director of Finance

2. Revenue Budget

3. Council Finances

4. Making Bath & North East Somerset an even better place to live, work & visit The Financial Challenge »CSR2010 – 28% Cut in Government Grant Funding – most of which was front loaded. »2013/14 – 2015/16 expect further significant cuts – estimated at least 17%. »Grant Settlement for 13/14 now Due Late December. »Next CSR likely to be 2013 – cover next 3 or 4 years. »Public Sector Financial Challenge likely to remain until at least 2018.

5. Making Bath & North East Somerset an even better place to live, work & visit The Budget Approach »Three Year Budget – 2013/14 to 2015/16 »Only Essential Cost Pressures »Continued Focus on Efficiency Savings »Maximising savings from Change Programme »Increased and Diversified Income »Minimise Cost of Borrowing - Past & Future »Enable Communities to be More Self Sufficient »Make Better Use of Council Assets »Service Reductions in Lower Priority Areas

8. Making Bath & North East Somerset an even better place to live, work & visit Budget Risks & Assumptions Key Risks »Impact of System Changes particularly Localised Business Rates and Council Tax Changes »Government Funding Reductions – Could Vary Significantly (positive or negative). Other »Inflation – current low levels maintained – assumed around 2% »Pay – small provision (1%) assumed for each of next three years.

9. Making Bath & North East Somerset an even better place to live, work & visit Budget – Key Dates »Early November – commence Consultation with Staff, Unions and Stakeholders »November - Policy Development & Scrutiny Panels »Late December - Government Financial Settlement »January – Cabinet Draft Budget Proposal »13th February - Budget Report to Cabinet »19 th February - Budget Report to Council