News Balanced budget means stable finances
Decisions passed at the Maidstone and Borough Council (MBC) Policy and Resources Committee set out a balanced budget, which will result in stable finances for 2019/20.
Decisions passed at the Maidstone and Borough Council (MBC) Policy and Resources Committee set out a balanced budget, which will result in stable finances for 2019/20 across the borough.
The Committee, which met yesterday– 13 February, was part of the process of agreeing a budget for 2019/20 with the agreed recommendations to be presented at Full Council on 27 February 2019.
MBC has plans in place to make a saving of over £1m, a difference it has been forced to find - in part following a transformation review, and due to the Council no longer receiving a Revenue Support Grant from Government. The Committee also put forward a proposed level of Council Tax, which would see an increase of £7.56 per household, per annum (based on a Band D property).
Last evening’s P&R meeting was chaired by MBC Leader, Cllr Martin Cox who commented:
“Maidstone Borough Council appreciates that every penny counts for everyone. We fully understand how important it is for us to spend money wisely on behalf of our residents, businesses and visitors to the borough in a way that protects the economy and supports the community.“That is why every decision was considered wisely, and the recommendations have been made in order to achieve a balanced budget that will contribute to the Council having a stable financial position.”
Other areas approved during the P&R Committee meeting to be presented to Full Council later this month include:
- Members Community Grant retained for 2019/20 (up to £60k)
- Public Toilets Review (£10k)
Proposed saving in 2019/20 for Festival and Events deferred to 2020/21(£10k)