Budget Proposal 2017/18

Transcription

1 Glenfield Parish Council Park House, Stamford Street, Glenfield, Leicester, LE3 8DL Telephone: Glenfield Parish Council Budget Proposal 2017/18 Contents Introduction... 2 Summary of Budget Information... 2 Summary of projected Income and Expenditure 2016/17 and budgeted 2017/ Analysis of reserves... 4 Notes to the budget... 4 Capital Projects... 5 Appendix A Capital Projects... 6 Appendix B Glossary of Terms... 7 Appendix C: Details of nominal codes summarised in budget headings... 8 Page1

2 Introduction The Finance & Audit Committee in conjunction with the Parish Manager have prepared this budget. The aim of this document is to prepare a budget that takes into account both revenue and capital expenditure and in particular the budget should: Allow for general (e.g. inflationary) changes to expenditure. Allow for future staffing needs (additional part-time office staff?) Allow for changes to the building that will provide additional space for office staff. Compensate for the likelihood that the CTRS grant will be either reduced or withdrawn in future years. Compensate for the possibility that the precept may be capped in future years. Set aside an amount to be transferred to reserves to contribute to the cost of capital projects. Be prudent in the Councils assessment of future income streams. The level of reserves is prudent to allow for unforeseen but possibly costly expenditure such as the long term absence of the Parish Manager through illness. Timescale for setting the budget Legally Glenfield Parish Council must set its precept no later than the 1 st March for the financial year that commences on the 1 st April In practice most billing authorities require this information beforehand. Blaby District Council have given the following guidance to Parish Councils: The intention is to distribute Council Tax Support Grant to parishes using the same mechanism as for We anticipate that figures will be available early in January. Draft tax base figures will be available shortly before Xmas 2016 with final figures being approved by Council on 23 rd January The deadline for the precept demand to be returned to Blaby will be 1st February Summary of Budget Information The table below gives some background information from the previous 2 years and projections for 2017/18 which may be useful for comparative purposes. 2015/ / /18 Council Tax Base 3, , , Precept 250, , ,000 Band D equivalent CTRS Grant 17,109 17,022 18,489 Page2

3 Summary of Income and Expenditure 2016/17 to 2017/18 Income and Expenditure 2016/17 Yr. end 2017/18 Budget predicted Receipts: Receipts: Precept 285,000 Precept 293,000 Council Tax Support Grant 17,022 Council Tax Support Grant 18,489 New Homes Bonus 26,551 New Homes Bonus 2,917 Grants 1,500 Grants 0 Section ,560 Section Lettings and Land Rents 67,154 Lettings and Land Rents 69,098 Bank Interest 500 Bank Interest 600 Total Receipts 472,287 Total Receipts 384,104 Payments: Payments: Staffing 156,225 Staffing 170,630 Administration 53,099 Administration 62,714 Open Spaces incl S106 exp 94,858 Open Spaces 29,000 Community 29,250 Community 40,000 Allotments 1,807 Allotments 1,210 Sports Pavilion 19,025 Sports Pavilion 18,500 Park House 15,125 Park House 16,450 Youth Centre 7,158 Youth Centre 7,850 Ellis Park Pavilion 2,500 Ellis Park Pavilion 2,750 Reserves and Contingencies 41,000 Reserves and Contingencies 35,000 Total Payments (420,047) Total Payments (384,104) Balance Brought Forward 470,605 Balance Brought Forward 522,845 ADD Total Receipts 472,287 ADD Total Receipts 384,104 LESS Total Payments (420,047) LESS Total Payments (384,104) LESS Project Reserve Funds (305,276) Balance Carried Forward 522,845 Balance Carried Forward 217,569 Page3

4 Analysis of reserves 2015/16 Of the balances held: 49,534 Unrestricted Reserves 120,999 Asset Replacement Fund 48,585 Sports Development Fund 251,487 Working Balances 470, /17 predictive of the balances held: 49,534 Unrestricted Reserves 124,816 Asset Replacement Fund 48,585 Sports Development Fund 82,341 Park House Redevelopment Fund 217,569 Working Balances 522,845 Notes to the budget Income The main source of income for the Parish Council is the Precept Outside of the precept income is received from the CTRS grant, the New Homes Bonus, other grants which the Council may apply for to fund particular projects and through the hire of Council facilities. Glenfield Parish Council has no direct influence over the amount of funding that is received from either the CTRS grant or the NHB. Hire of Council Facilities The following facilities are available for hire: Park House: Main hall, Committee Room and Club Room (October to March only) Glenfield Sports Pavilion and Glenfield Sports Ground The Multi Sport Area at Ellis Park Glenfield Youth Centre Bowls Green (the Bowls green is rented to the Bowls club with unlimited access to the club from April to September) Income from the hire of these facilities is predicted at 66,609 for the financial year 2016/17 Expenditure Staffing Budget The staffing budget allows for the annual inflationary rise which has previously been agreed with staff. This representing 0.6% being the RPI indicator for October Page4 The budget also allows for the payment of pensions.

5 Loan Repayment The Parish Council previously had a loan with the Public Works Loan Board. This was repaid in full in October A further loan of 100,000 to facilitate improvements to Park House and Campus (works are currently under consideration) has been budgeted for 2017/18 with payments over a period of 9.5 years. Capital Projects Proposed capital projects are shown in appendix A. Possible sources of funding for these are shown, where these cannot be funded through S106 funding or other grants the Finance & Audit Committee propose that these are funded from dedicated reserves and that any surplus income generated through any ongoing receipt of CTRS grant is ring fenced in these reserves. Page5

6 Appendix A Capital Projects Column1 Column2 Column3 Column4 Project Name Projected Cost timescale for delivery How Funded Cemetery 150,000 UK S106 (Under consideration) Park House 60-75,00 Apr 2017 Reserves/ Grant funding Modifications (Under consideration) New Grounds 100,000 Apr 2017 Reserves/ Grant funding Maintenance Building (Under consideration) Car Park Ellis 40,000 Apr-17 Reserves Park (Under consideration) Replace/ remove) tbc Reserves pavilion Ellis Park Upgrade CCTV 18,000 Jan 2017 S106 Mower Feb 2017 Asset replacement fund Replace fencing around Ellis Park Play 25,000 April 2017 S106 area (Under consideration) Renovation works to the two MUGAs at Ellis Park 180,000 Aug 2017 S106 Page6

7 Appendix B Glossary of Terms Financial Year: The financial year for a Parish Council runs from the 1 st April to the 31 st March each year, this is set in statute. A revenue budget: Revenue is the running cost of the council and its services, and the income that meets those costs. Capital Budget: A capital budget involves funding for capital projects - the acquisition or construction of long term assets e.g. the creation of a cemetery or the purchase of a new council building. The precept: The Parish Council is able to raise funds by levying a charge on residents. This is known as the precept. The precept is raised through an additional charge on resident s council tax. The billing authority pays, in this case Blaby District Council, each precepting authority the amount they require and collects such sums from its residents through the council tax. Unlike other tiers of government the precept is not capped. New Homes Bonus (NHB):The New Homes Bonus is a grant paid by central government to local councils for increasing the number of homes and their use. The New Homes Bonus is paid each year for 6 years. It s based on the amount of extra Council Tax revenue raised for new-build homes, conversions and longterm empty homes brought back into use. There is also an extra payment for providing affordable homes. Blaby District Council allocate a proportion of the New Homes Bonus to each of the Parish / Town Councils in the district. The financial year 2017/18 is the last year for this payment. Council Tax Bands: The amount of Council tax that you pay varies depending on the BAND you property is in. Bands run from A-G, the banding is based on a valuation of a property as at 1 April Bands A is lowest valuation and Band G the highest. Council tax is usually expressed as the Band D equivalent (this being the mid-point). Council Tax Base: The Council tax base is determined by expressing all domestic properties in an area as Band-D equivalents. The total amount required to be met from council tax is then divided by the tax-base to produce a Band D charge. From that amount so produced, each of the other seven band council tax charges is calculated. Council Tax Support (CTRS) Grant: Council Tax Benefit was abolished from 1 st April 2013 and each local billing authority was required to provide their own scheme of Council Tax Support to assist vulnerable and low paid residents in paying their council tax. Support for low income individuals is now provided through a discount applied to their Council Tax Bill, meaning that the Council Tax Base (the number of Band D equivalent properties in a local authority's area that Council Tax is charged on) is reduced and as such, less Council Tax is collected. The net effect of this is that precepting authorities either need to increase their precepts to offset the cost of this or face a reduction in their funding. Reserves: Part of budgetary control is to ensure adequate but not excessive reserves or balances. It is rare for a local council to hold its reserves other than in the form of easily accessible bank deposit or other short-term savings accounts. Councils have no legal powers to hold revenue reserves other than those for reasonable working capital needs or earmarked purposes. The value of all reserves should be approved by the Council the amount of working capital to be held should also be approved by the council. Page7

8 Appendix C: Details of nominal codes summarised in budget headings Income Budget Headings P Precept 1076 C Council Tax Support Grant 1077 I Interest Received 1090 N New Homes Bonus 1100 G Grants Received 1110 S Section 106 Income 1120 L Lettings and Land Rent L Lettings - Bowls Club Green 1300 L Multisport Income 1310 L Land Rents 1320 L Allotment Rents 1350 L Lettings - Sports Pavilion 1500 L Sports Ground Income 1510 L Lettings - Main Hall 1540 L Lettings - Committee Room 1550 L Lettings - Club Room 1560 L Lettings - Youth Centre 1580 W Wayleave 1600 Y Youth Centre Subs 1590 Expenditure Budget Headings Council Allowances and Expenses / Elections E Councillors Expenses 4200 E Chair's Allowance 4202 E Parish Hospitality 4205 E Councillors Allowances 4210 E Elections 4235 E Subscriptions 4250 CO Contingencies 4290 Professional Fees and Charges F Audit Fees 4215 F Bank Charges 4220 F Loan Charges 4222 F Professional Fees 4230 I Insurance 4285 Page8 Maintenance and Running costs of Council property M Health & Safety 4245 M Vehicle Costs (inc. Fuel) 4280 M Bowls Green Maint M Multisport Maint M Play Equipment Maint. 4310

9 M Safety Surfaces 4315 Sports Ground General 4320 M Maint. Station Park General 4325 M Maint. New Rec. Facilities & 4330 M Equip. M Grass Cutting 4335 M Tree Maint M Hedge Trimming 4345 M Skip Hire 4350 M Allotment Maint Grounds Equipment and 4505 M Maint M PPE Clothing 4510 M Machine Fuel 4515 M Consumables 4520 Security Equipment 4525 M Maint. M Water 4550 M Electricity 4555 M Gas 4560 M Rates 4570 M Sports Pavilion Maint Park House Property 4650 M Maint. Youth Centre Repairs & 4700 M Maint M Ellis Park Pavilion Maint Office Expenditure O Advertising 4240 O Postage & Packing 4270 O Stationery & Requisites 4272 O Office Equipment 4275 O Telephone & Broadband 4565 Reserves R Unrestricted Reserves 9020 Asset Replacement 9025 R Expend. Sports & Rec R Development R Park House Improvements 9035 Staffing S Salaries 4000 S Training 4010 S Staff Travelling 4020 S Payroll Service 4025 S Agency Staff 4030 Page9 Village Improvements and Projects Community Support 4260 V Grants Community 4415 V Communication V Village Enhancement 4420 V Additional Street Cleaning 4425

10 V Bin Collection 4435 V Christmas Decorations 4440 Y Youth Service Provision 4410 Page10