Council needs to save £19.9m
Council tax in West Berkshire is set to go up by 4.99 per cent next year.
Two percent of that is for adult social care (ASC).
The council’s medium term financial strategy (MTFS) is due to be put to its executive committee tonight (Thursday) for approval, and forecasts the same increase year on year until 2026/27.
A report to the committee highlights the need for cost reductions of £19.9m over the next four years.
Council tax provides 62 per cent of the council’s funding, excluding fees and charges – 72 per cent with the ASC precept.
That equates to around £117m a year.
Any increase of this number above 2.99 per cent must go to a public referendum.
The council collects £97m of business rates, and is allowed to retain some of this through a Government controlled scheme.
The amount left over for WBC after payments to the Government is £27m.
If business rates increase through new growth in the value of business rates, the council retains approximately 25 per cent, and retains 100 per cent of all renewable energy schemes.
The New Homes Bonus is a scheme from the Government since 2010 that allows councils to keep the equivalent band D council tax on all additional homes built in the district for one year.