Introduction
In preparing the 2008/09 budget, the opportunity has again been taken to review the way the Council finances its expenditure - using a combination of income and the precept. The proposals put forward by the Policy, Resources and Finance Committee allow us to achieve all our aspirations whilst keeping the level of Council Tax down to a reasonable level for a Town the size of Yeovil.
Financial Strategy
These proposals include the adoption of a financial strategy aimed at ensuring that the Council achieves a sustainable balanced budget whilst, at the same time, maintaining flexible ways of responding to future requests for unforeseen and inescapable expenditure.
As part of this strategy, all Committees have been asked to keep their expenditure within suggested maximum limits – with any proposed increases beyond those suggested being matched by reductions elsewhere in their respective budgets. I’m pleased to say that all Committees have followed this suggestion and I am grateful for their support.
The strategy also identifies the benefits of Committees continuing to pool their contingency funds and bidding for the use of these funds as the necessity arises. This approach is consistent with the way in which unspent revenue balances are dealt with and it ensures that all Committees have the same opportunity to bid for additional expenditure next year. Again, I am pleased to report that all Committees have accepted this proposal.
In considering this year’s strategy, we have been mindful of the unexpected closure of the Yeovil Ski and Activity Centre earlier this year, and the impact of a possible loss of income and additional related costs on the Town Council’s current revenue budget.
Whilst it is envisaged that a substantial element of these costs could be met from existing contingencies, efforts have been made to identify savings in 2007/08 to mitigate their impact in the current financial year should these fall on the Town Council, and to take potential ongoing costs into account when setting next year’s revenue budget. I am pleased that savings have been identified and that these have had a negligible impact on service delivery.
Put simply, the strategy we have adopted makes sure that we plan not only for next year's expenditure, but also for the years to come. These proposals set the foundation for future budgets.
Financial Implications
The draft committee estimates put forward by the Policy, Resources and Finance Committee total £690,576 excluding the contribution we make each year to the Cemetery deficit. This equates to a cost of 46p per week for each resident.
Bearing in mind the impact on the budget of items over which we and all other local authorities have no control - such as inflation, fluctuations in interest rates (which affect the income we get from our investments) and the anticipated national staff pay award - this is an extremely reasonable budget.
Turning to services, I would like to highlight some of the more important initiatives, which it is proposed be funded by the Town Council during the 2008/09 financial year.
Buildings and Civic Matters Committee
- Increasing our contribution towards CCTV in Yeovil Town to £22,350.
- Setting aside almost £21,000 to help maintain and staff Monmouth Hall – which provides an important meeting place for a number of local organisations and accommodates a local library. In recent years we completed works to install a disabled person’s toilet in the premises and created an enclosed play area.
- Providing sponsorship for the Town Band at £4,000 for up to eight engagements per year
- Setting aside over £2,000 to meet the costs of maintaining and improving the Town Council’s offices in Union Street. In recent years, we installed a hearing induction loop in the Council Chamber, which is extensively used as a meeting room by a wide range of public organisations based in the Town.
- Contributing £2,000 towards sports development in the Town
- Allocating £5,000 towards transport support – to help meet the costs of providing new bus shelters and related initiatives.
- Setting aside over £5,000 for community safety initiatives such as the provision of lighting in unadopted areas, CCTV enhancements and other Town Centre security measures.
Grounds and General Maintenance Committee
- Paying almost £165,000 towards the costs of maintaining and enhancing all the open spaces and amenities managed by the Town Council in Yeovil, and Yeovil Country Park. These areas are primarily provided for the benefit of local people, but also help to attract visitors to the Town.
- Allocating just over £19,000 to meet the on-going costs of supporting and developing Milford Park. This important facility includes a skate park, multi-use games area and a much-used community hall – all provided with the financial support of the Town Council.
- Setting aside over £26,000 towards allotment maintenance, improvements and support. In line with our participative approach to managing allotments, we are continuing to give plotholders a say on how this money is spent.
- Contributing over £10,000 towards the costs of employing a Play Officer as part of our commitment to managing and developing play facilities for young people across the Town. This person ensures that play areas are regularly inspected and that safety issues are monitored and addressed.
- Allocating £5,000 towards the cost of providing much needed holiday playschemes for young people living in the most deprived areas of the Town.
- Making £2,500 available to complete the hedge replacement works at Preston Park.
Planning and Licensing Committee
- Setting a budget and fees at a level aimed at recovering all of the direct costs of administering the licensing service.
Promotions and Activities Committee
- Effective management and the successful securing of private sponsorship have enabled the Town Council to continue funding the award-winning Yeovil in Bloom initiative at no extra cost to taxpayers.
- Providing £18,000 towards Christmas Lights making the Town an even more attractive place to visit and shop in the weeks leading up to Christmas.
- Contributing just over £19,000 to the Yeovil Town Centre Partnership to help secure and develop its role in the Town. This is an important initiative that helps to fuel the economic prosperity and vibrancy of the Town Centre, and the allocated resources will help the Partnership to flourish and develop over the coming years.
- Setting aside £10,000 towards further environmental improvements in the Town Centre. Earlier this year, we saw the completion of the first stage of the enhancement works on the western side of Princes Street - which included new paving. The next stage will involve replacing the paving on the eastern side of the Street and the provision of new lighting and planters. These innovative projects are in line with the aspirations of the Yeovil Vision and undoubtedly play a part in helping us to achieve ongoing success in the Regional Britain in Bloom annual competition.
- Allocating up to £3,100 towards the costs of organising another Annual Flower and Gardeners’ Market in the Town Centre. This exciting new initiative, embraces a wide range of horticultural and related activities, and complements the Yeovil in Bloom Presentations that take place each September.
- Setting aside £700 to meet the costs of the Town Council participating in the Annual Yeovil Country Park Fayre. This provides a valuable opportunity to actively promote the Town’s allotments, the Sunningdale Doorstep Green, Yeovil in Bloom and the Flower and Gardeners’ Market, with a view to encouraging more members of the local community to become involved in these exciting green initiatives.
Policy, Resources and Finance Committee
- Providing a grants budget of £25,000 to help new and existing local organisations based in the Town or serving the Town's population.
- Allocating £5,000 towards the costs of operating the Yeovil Shopmobility Scheme. This initiative, which was launched last year, is providing much-needed personal transport for those residents and visitors who experience mobility problems and allows them to enjoy the wealth of shops that Yeovil has to offer.
- Putting aside just over £1,100 towards the valuable work undertaken by Yeovil Youth Council.
- Making almost £6,000 available towards Best Value initiatives aimed at securing continuous improvement in the services we deliver to the people of Yeovil.
- Setting aside over £5,000 to help fund the costs of employing Police Community Support Officers who – in conjunction with the Police - are carrying out important crime prevention work and providing a high profile presence across the Town.
Capital Fund
At the moment, this stands at £26,479 with commitments totalling £20,384.
This fund will be boosted by the capital receipt arising from the sale of the former Goldcroft Allotment Site, which we have agreed will be sold and will include much needed affordable housing.
Following this approach helps us to avoid borrowing to fund capital improvements and means that capital expenditure is not put on the precept.
Capital projects in the pipeline include the completion of the final phase of the Sunningdale Doorstep Green and a rolling programme of play area improvements.
Cllr David Recardo
Chairman of the Policy, Resources and Finance Committee