Www.hastings.gov.uk Hastings Borough Council Overview of Key Financial Challenges Facing HBC 2014/15 – 2016/17 Neil Dart Director of Corporate Resources.

Slides:

Advertisements

Similar presentations

Christchurch Borough Council – 2013/14 Budget Consultation Meetings January 2013.

Advertisements

FY2004/05 PROPOSED BUDGET & FY2005/06 BUDGET PLAN Peer into the Future Cautious Optimism.

Finance and Budget Scrutiny Select Committee Introduction to local government finance.

ACMA Conference February 8, 2007 Evaluating Investments in Infrastructure Panel Overview of Public Infrastructure Financing in the City of Phoenix.

LEADERSHIP GROUP 5 TH JULY 2011 BUDGET 2012/13 – 2014/15.

Council Spending Proposals 2009/10 Terry Rogers Executive Councillor for Finance.

The Budget Proposal 2002 October 1, 2001.

Help us to shape our budget for 2013/14 Consultation 13 th December 2012 Keith Thompson Treasurer.

BUDGET CONSULTATION LOCAL GOVERNMENT FINANCE CONTENTS 2004/05 Revenue Budget Analysis Council Tax Future Developments in Local Government Finance.

Medium Term Financial Plan (MTFP) April MTFP The MTFP is a high-level forecasting model that enables the Council to assess the financial direction.

Jason Vaughan, Deputy Chief Executive SDCT Annual Meeting 2008 ‘ Getting the budget basics right in a changing environment’ Friday 5 th December.

Newcastle City Council budget Financial context.

Poole Council Cllr Elaine Atkinson Leader of the Council Budget & Council Tax Setting 2014/15 MEETING WITH REPRESENTATIVES OF RESIDENTS’ ASSOCIATIONS AND.

© 2014 Grant Thornton UK LLP. All rights reserved Vision Exploring finance and policy futures for English Local Government SOLACE – West Midlands.

2006 Budget Challenges Additional Increases in Pension Contributions = +$451,200 Additional Assessment from RVSA = +$315,000 Increases in Fuel and Utility.

2012 – 2016 FINANCIAL PLAN OVERVIEW City of Pitt Meadows DM #94656.

Strategic Finance Presentation to Chief Executives 9 May 2012 Sue McGonigal Chief Executive (Thanet District Council) Julie Gibbs Assistant Director –

Chapter 1 Overview of a Financial Plan

South Derbyshire Changing for the Better Budget 2010/11 Area Forum Presentation.

Financial sustainability of local authorities Presentation to Budget & Finance Scrutiny Select Committee 13 March 2013.

FINANCIAL TRAINING FOR ELECTED MEMBERS. THE ROLE OF FINANCE.

Town and Parish Forum January Cllr Michael Wassell Leader Breckland Council.

Paw Paw Public Schools Budget Amendment Presentation 2014/2015 December 10, 2014.

BACKGROUND Comprehensive Spending Review 2010 marked the beginning of the grant reduction programme Local government anticipating a 28% cut in grant over.

1 THE BIRMINGHAM BUDGET 2013/14 AND TO 2017 CONSULTATION AND DEBATE Peter Hay Strategic Director Adults and Communities.

Scrutiny Committee - MTFP. Legal Requirements The council must set a balanced budget by the 11 th March for the forthcoming year; The Local Government.

Background Key Influencing factors Budget Strategy Key issues facing Middlesbrough Central Government Funding Budget (Assumptions) Budget (Projections)

Essential Standard 1.00 Understand the role of business in the global economy. 1.

Fiscal policy 1. Meaning  Fisc means State Treasury  Fiscal policy may be defined as that part of governmental economic policy which deals with taxation,

Understand the role of business in the global economy. 1 All Images Compliments of

Chart Budget Briefing for the Legislative Council 26 February 2009.

The Budget Presentation to the JCC By Hon A. Craine MHK, Treasury Minister Date 16 th February 2011.

S S P EXECUTIVE Monday 14 March 2011 Item 4a) Salford City Council Revenue Budget 2011/12 Martin Vickers Strategic Director Salford City Council.

HRA Rent and Budget Setting 2016/17 1. The Housing Revenue Account The Housing Revenue Account (HRA) is a ring fenced account which cannot be subsidised.

Mayor’s Budget Event Redcliffe Hotel, Paignton Monday 7 December 2015.

Planning 10 Finance Jeopardy InsuranceTaxesIncomeSavings

The Future of Winchester Part 1: Business Budget Briefing 2016/17 – 2020/21.

2011/12 FINANCIAL OUTLOOK April 2011 John Holme, Principal Finance Manager ACS.

CITY OF MONROE FISCAL YEAR BUDGET PRESENTATION EDWARD SELL, FINANCE DIRECTOR.

Environment & Neighbourhood Services Budget Briefing Sue Harper Director Bharat Jashapara Assistant Director - Strategic Finance.

Budget Presentation February 2015 (Appendix 11). Total Budget Gap Amount Delivered so far Annual Budget Gaps: 2011/12£91.4m 2012/13£50.0m 2013/14£32.0m.

Changes to Local Government Finance & City Council Budget 2013/14 14 th November 2012.

Dr.Mohamed Zaky Faculty of Economics and Political Sciences Cairo University.

Business Summit and Statutory Consultation Budgets and Precept 2016/17 Mark Kenyon, Chief Finance Officer 1.

Salford City Council Budget Planning 2013/14 and beyond 18 December 2012.

A plan for managing money during a given period of time Financial Roadmap.

Budget Presentation 2010/2011 – 2013/2014 All Communities 28 January 2010.

Chapter 1 Overview of a Financial Plan. Copyright ©2014 Pearson Education, Inc. All rights reserved.1-2 Chapter Objectives Explain how you benefit from.

Borough of Poole Cllr Elaine Atkinson Leader of the Council Budget & Council Tax Setting 2015/16 MEETING WITH REPRESENTATIVES OF RESIDENTS’ ASSOCIATIONS.

The 2012/13 Budget and the Australian Economy Moir Group May 9, 2012 John Edwards Visiting Fellow, Lowy Institute.

LEICESTER CITY COUNCIL BUDGET 2011/12 CONSULTATION PROPOSALSPUBLISHED ON 18th JANUARY 2011.

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

2012 Financial Statements Regular Meeting of Council May 21 st, 2013.

Local Government Finance & Budget - Briefing for All Members Wednesday 9th January 2013 Denise Park Liz Hall Executive Director, Director of Finance Resources.

Initial Budget Proposals 2015/16 Initial Budget Proposals 2015/16 Presentation by Leader of the Council and Portfolio holder for Performance and Efficiency.

Draft Budget Proposals for Geoff Dobson – Head of Strategic Finance 15 December 2010 Resources, Finance and Performance Scrutiny Committee.

1 Havering Council Summary Statement of Accounts Draft accounts – subject to audit.

Budget 2005/2006 Focusing on Our Priorities BUDGET CONSULTATION Social Care and Health Scrutiny Committee 25 th January 2005.

Leicester, Leicestershire and Rutland Combined Fire Authority Budget Strategy 2017/18 to 19/20 CFA Meeting 8th February 2017.

Terry Collier Deputy Chief Executive (Chief Finance Officer)

City of richmond FY mid-year budget review

Hastings Borough Council Corporate Plan & Budget 2017 / 2018

Mid-Year Financial Review Fiscal Year

The Council Finances to

Bayside City Council Financial Positon and Future Challenges

Community Council Meeting 9 November 2017

Ottawa Elementary District #141

Fiscal Sustainability Task Force

Budget Sustainability Policies in the Republic of Belarus

Budget Presentation to Nadi Chamber of Commerce

Presentation transcript:

Hastings Borough Council Overview of Key Financial Challenges Facing HBC 2014/15 – 2016/17 Neil Dart Director of Corporate Resources Peter Grace Head of Finance

Financial Picture Gross Expenditure £100m Net Council Expenditure 2014/15 is some £16.72m Funded by: Government Grant - RSG £3,885,000 (23%) Council Tax Freeze Grant £ 70,000 Efficiency Support Grant£ 975,000 New Homes Bonus£ 886,000 Other Grant/contributions£ 703,000 Housing Benefit Admin Grant£ 986,000 Non Domestic Rates£ 3,618,000 (22%) Council Tax£ 5,597,000 (33%)

Government Funding Reduction 2010/112011/122012/ / /152015/162016/17 (Est) £m Area Based Grant3.6 Formula Grant Settlement Funding Assessment (Revenue Support Grant and Business Rates)* New Homes Bonus Transition Funding Efficiency Support Grant Total Cumulative Cash Reduction Cumulative % Reduction -15.0%-26.0%-36.2%-42.5%-51.9%-59.0%

Financial Pressures Reductions in Government Funding Inflation Income – Fees and Charges Factory & Shop rentals Investment Interest Lower Capital Receipts in the future Limits on Council Tax increases

More Financial Challenges Business Rates – Level of Appeals Universal Credit starts /2016? Legal Challenges - Pier

Financial Projection A deficit of £1.8m is estimated for 2015/16 and £3.1m in 2016/17 If reserves are used in 2015/16 the deficit could be reduced to £850,000 (but still need to save £3.1m in 2016/17)

Working in Partnership Coastal Space £6.2m (51 units) Factory eco-retro fits £580k (ACE) FLAG project c.£1m investment to support promotion and development of fishing industry Waste and Street Cleaning Joint Procurement – Grounds Maintenance

Capital Programme The 2014/15 programme amounts to £1.762m (£3.01m Gross). 2014/15 to 2016/17 amounts to £2.414m (£6.842m Gross) Plus, Coastal Space Project - HBC contribution and loan (£3.62m)

Examples Disabled Facility Grants £964k Country Park Interpretative Centre£250k CCTV Control Room£275k Hastings Pier Contribution £250k St Leonards Townscape Heritage £238k Crematorium - Chapel £100k Pelham Crescent £804k

A Balanced Budget Sources of Income: Grants Income – fees and charges Council Tax Non Domestic Rates Or Less Spending Every 1% Council Tax = £56,000

Challenges Major reductions in funding Revised basis of Funding – more risk and uncertainty Revised basis for paying benefits Inflation (impact of salaries and contracts ) Maintaining Income - World Economy/ Eurozone/welfare Treasury Management – Safety & Security of Investments Corporate Plan & Balanced Budget – determined February of each year

More Detail…… Finance Seminar 2 July 2014