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The Authority received a report which sought to determine the Revenue and Capital Budgets and the Council Tax Requirement for 2015/16.
The report also recommended the approval of the Prudential Indicators and Minimum Revenue Provision (MRP) Statement for 2015/16. In addition, the Authority considered potential future resources, their consequential impact on future year budgets and the future Council Tax Requirement.
RESOLVED that:
i) the Capital Budget and Programme be approved;
ii) the Revenue Budget be approved;
iii) the Authority calculates that in relation to the year 2015/16:
a) the aggregate expenditure it will incur will be £32,989,000.00;
b) the aggregate income it will receive will be £13,512,414.00;
c) the net amount transferred to financial reserves will be £585,718.00;
d) the net amount of its Council Tax Requirement will be £20,062,304.00;
e) the basic amount of Council Tax will be £76.50 (Band D);
f) the precept demands on the individual Billing Authorities are:
· Bromsgrove £2,670,332.76
· Herefordshire £5,037,173.49
· Malvern Hills £2,213,791.59
· Redditch £1,900,690.04
· Worcester £2,296,658.88
· Wychavon £3,509,992.87
· Wyre Forest £2,433,664.37
iv) the Medium Term Financial Plan be approved; and
v) the Statement of Prudential Indicators and Minimum Revenue Provision Policy be approved.