Agenda item

Charter Trustees considered a report of the Treasurer that provided information to enable Charter Trustees to determine the appropriate budget requirement for the Charter Trust for 2021/22 and the basic level of council tax required for 2021/2022 (for copy see file of minutes).

The Treasurer reported that due to the COVID-19 pandemic the forecast for total expenditure is £24,955 under the agreed budget. This would result in an addition to reserves of £11,065 rather than the budgeted utilisation of reserves of £13,890.

The level of council tax precept had been set at £1.90 since 2014/15 and Charter Trustees agreed in 2017 to maintain that level until 2021/22. He advised that the council tax base for 2021/22 would reduce from £26,073.1 for 2020/21 to £25,963.2 for 2021/22. Consequently, the council tax receivable would reduce from £49,538.89 to £49,330.08 at the current Band D Council Tax rate of £1.90.

Charter Trustees formally agreed the council tax requirement of £49,330 and a £1.90 precept for 2021/22 and that discussions regarding budget setting and precept for 2022/23 and future years be considered after the election in May 2021.

Resolved:

i)          That the forecast of outturn position for 2020/21 be noted;

ii)        That the council tax requirement of £49,330 and a £1.90 precept for 2021/22 be agreed;

iii)       That the requirement to receive future reports to consider the projected budget and reserve balance for the period 2022/23 to 2024/25 in order to agree the level of council tax precept be noted.