AN EXTRAORDINARY MEETING OF THE POLICY AND ORGANISATION BOARD
WAS HELD ON 6 FEBRUARY 2002
The Mayor (P); Councillors Mrs Angus (P), Bartlett (P), Mrs Binfield (P), Mrs Cully (P), Edgar (Chairman) (P), Hayward (P), Hook (P), Langdon (P) and Russell (P)
PART I
14. COUNCIL BUDGET 2002-2003
Members received references from the Boards concerning their draft Revenue Budget for 2002-2003 (including Fees and Charges) and their Capital Programme for 2002/2003 to 2007/2008.
The Borough Treasurer reported that the proposed budget for 2002/2003 was £10.2M which represented an increase of £0.67M on the current year. The revised budget for 2001/2002 was over £0.5M higher than the original budget, principally due to additional expenditure on Priddy's Hard Museum, Housing Benefits and pay awards. It was anticipated that the £0.5M overspend in 2001/2002 would be financed from Working Balance £0.1M, Capital Reserve £0.2M and £0.2M by the release of a balance sheet provision previously set aside for expected Business Rate liabilities that were now considered unlikely to materialise. The General Fund Working Balance would therefore be reduced to £0.5M at 31 March 2002, well below the £0.75M level now considered prudent.
The Borough Treasurer drew the Board's attention to the Council's Capital Programme for the next six years which amounted to over £30M.
The budget of £10.2M for 2002/2003, was expected to result in an increase of 12.8% in Gosport's share of the Council Tax. This equated to an extra 27p per week on Gosport's average Band B property.
RECOMMENDED: That -
(i) the revised 2001/2002 General Fund budget totalling £9,544,200 and the 2002/2003 General Fund Budget of £10,210,210 (plus the associated Fees and Charges, Capital Programme, transfers to balances and other proposals included in the report) be approved; and
(ii) delegated authority to the Policy and Organisation Board be confirmed to set Council Tax levels as previously delegated to the Policy and Resources Committee.
PART II
15. BOARD BUDGET 2002-2003
Consideration was given to the draft Revenue Budget for 2002/2003 as prepared by the Borough Treasurer. The total budget for 2002/2003 was £2,456,670 which was a reduction of £222,700 over the original 2001/2002 budget of £2,682,370.
Consideration was also given to the Capital Programme for 2001/2002 to 2007/2008 of which £435,000 related to the 2002/2003 financial year. The Board noted that the 2001/2002 Revised Capital Programme was £1,351,000.
RESOLVED: That -
(i) the Board's Revenue Budget for 2002/2003 in the sum of £2,456,670 be approved and recommended to Council in accordance with Minute No 13 above; and
(ii) the Board's Revised Capital Programme for 2001/2002 and Capital Programme for 2002/2003 to 2007/2008, of which £435,000 related to 2002/2003, be recommended to Council in accordance with Minute No 13 above.
CHAIRMAN
