(a)

the impact of the settlement for Plymouth compared with our resource assumptions;

(b)

how the £1.1m revenue gap for 2014/15 had been closed; 

(c) 

a breakdown of costs to be incurred by, and benefits attributable to, the Council’s Transformation Programme in 2014/15;

(d) 

a risk register detailing the high level risks associated with the revenue and capital budgets 2014/15 to 2016/17;

(e)

that at the time of writing the report the precepts had not been agreed for the Police and Crime Commissioner and the Devon and Somerset Fire Authority.

(f)

the financial challenges were increasing year on year with year on year reductions in funding from government;

(g)

transformation would deliver net benefits of £1.2m in 2014/15 with greater financial savings being generated in future years;

(h)

the Council had the lowest average Council tax in the region and that the action taken to support the building of more homes would increase the tax base; 

(i)

a one point nine nine per cent (1.99%) increase in Council tax was proposed;

(j)

the Council had an ambitious capital programme of £207m, with funding for roads, two new schools, a housing loan scheme and a bid submitted for the history centre/ curiosity shop; 

(k)

whilst the budget was being cut, the Council was protecting front line services, although it would be necessary to reduce staff by 300.

(1)

to agree that an additional allocation of £0.5m is added to the staff pay contingency for 2014/15;

(2)

to agree that the revenue contingency of £1.3m in the 2013/14 base budget is reduced to £1m for 2014/15;

(3)

to agree that additional resources as determined through the December 2013 Settlement are deployed to the 2014/15 revenue budget as required (and detailed in this report);

(4) 

to approve an increase of one point nine nine per cent (1.99%) in Council Tax for 2014/15;

(5)

to approve the proposed net revenue budgetrequirement for 2014/15 of £204.680m;

(6)

to approve the total capital budget of £207.670m for 2013 to 2017. Any changes to the overall capital funding available to be sanctioned by the Council’s Section 151 Officer;

(7)

to give delegated authority to the Leader, in consultation with the Cabinet Member for Finance and relevant portfolio holder, to commit to capital schemes and to take key decisions, within the overall affordability envelope, based on sound business cases; 

(8)

to agree that all newly approved capital schemes are incorporated within regular public finance reporting;

(9)

using the Council Tax base for 2014/15 as x  [Item T in the formula in Section 31B of the Local Government Finance Act 1992, as amended (the “Act”)]; to agree that the Council Tax requirement for the Council’s own purposes for 2014/15 is £x;

(10)

to agree that the following  amounts are calculated for the year 2014/15 in accordance with Sections 31 to 36 of the Act:

(a)

£x being the aggregate of the amounts which the Council estimates for the items set out in Section 31A(2) of the Act (Gross Expenditure and Transfers to Reserves);

(b)

£x being the aggregate of the amounts which the Council estimates for the items set out in Section 31A(3) of the Act (Gross Income and Transfers from  Reserves);

(c)

£x being the amount by which the aggregate at 10(a) above exceeds the aggregate at 10(b) above, calculated by the Council in accordance with Section 31A(4) of the Act as its Council Tax requirement for the year. (Item R in the formula in section 31B of the Act);

(d)

£x being the amount at 10(c) above (Item R), all divided by Item T (7 above), calculated by the Council, in accordance with Section 31B of the Act, as the basic amount of its Council Tax for the year;

(11)

to note that the Devon and Cornwall Police and Crime Commissioner and the Devon and Somerset Fire and Rescue Authority have not at present issued precepts to the Council in accordance with Section 40 of the Local Government Finance Act 1992 for each category of dwellings in the Council’s area. Once confirmed these will be included in the tables below; 

 (12)

in accordance with Sections 30 and 36 of the Local Government Finance Act 1992, to set the indicative aggregate amounts shown in the tables below as the amounts of Council Tax for 2014/15 for each part of its area and for each of the categories of dwellings -

Plymouth City Council

A

B

C

D

£x

£x

£x

£x

E

F

G

H

£x

£x

£x

£x

Devon and Cornwall Police and Crime Commissioner

A

B

C

D

£x

£x

£x

£x

E

F

G

H

£x

£x

£x

£x

Devon and Somerset Fire Authority

A

B

C

D

£x

£x

£x

£x

E

F

G

H

£x

£x

£x

£x

Aggregate of Council Tax Requirements

A

B

C

D

£x

£x

£x

£x

E

F

G

H

£x

£x

£x

£x