Council Tax
Spending Plans Explained
How we set our Spending Plans
Stage 1 Setting our corporate objectives for the next five years - What we want to achieve for residents in the borough.
In 2006 we consulted 4,000 residents as well as local businesses, to test the objectives we were proposing. Ninety-five per cent of respondents agreed these were the right objectives for Fareham Borough Council.
Stage 2 Allocating the funds to complete these objectives.
These are allocated from the Fareham part of your Council Tax and the annual grant we receive from Government.
Stage 3 Budget approval process.
Once we have allocated amounts to each of our priorities, the budget is scrutinised by elected Members who must pass and approve the budget at a full council meeting.
Day to day running costs
The Council is also continually striving to deliver better quality and wider ranging services within the envelope of its total budget.
In setting the revenue budget for 2008/09, new resources have specifically been earmarked for Council priorities and are explained under changes in the budget since last year.
Capital Investment Plans
We plan to spend £21.2m on capita projects between 2007/08 and 2011/12. The funding comes from either the council's own resources (£14.0m), Government support (£2.7m) or from external contributions (£4.5m). These include:
- £6.4m for affordable housing schemes,
- £1.7m for housing renovation grants
- £1.6m for repairs to the Fareham Leisure Centre and Ferneham Hall
- £1.9m for environmental schemes
- £702,000 for car park improvements
- £1.3m for parks, play areas and outdoor recreation schemes
- £454,000 for provision of sports facilities at Seafield Park
- £450,000 Burridge community facilities
- £323,000 for public protection schemes
- £2.1m for vehicle replacement programme
- £1.3m for Information Technology projects
- £360,000 to Match Funding schemes & neighbourhood initiatives
- £127,000 for grants to voluntary groups
- £1.2m Civic Office and Depot Maintenance Work
- £1.3m Other schemes, including Fareham town centre redevelopment works, improvements to community buildings, cemeteries & public convieniences.
Financial Standing
Each year, we produce a Financial Strategy - a forward-looking document, projecting the service and financial pressures expected over the next 5 years. This is used to control and manage the level of spending and the anticipated tax burden, as well as inform the council's borrowing and investment decisions.
As at 31st March 2007, revenue reserves stood at £3.2m, fund balances £5.4m and capital reserves £13.1m. These are used to pay for new capital schemes, meet any unforeseen costs and smooth the effect of other financial pressures and changes in Government funding on the Council Tax.
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