Newport City Council’s Cabinet considered a number of budget proposals for the 2018/19 financial year at their December meeting.
A public consultation closed Wednesday 31 January 2018.
At their meeting on 14 February 2018, Cabinet discussed feedback on the draft savings proposals put forward in December and made recommendations for the 2018/19 budget.
As well as the additional funding allocated for new schools and making permanent the £1.1m boost awarded last year, Cabinet agreed a further £420k to be added to the schools budget.
Cabinet discussed the results of the public consultation and debated the reallocation of some resources as a result of feedback.
The proposed budget for 2018/19 includes a further £10m investment into key services while managing the challenge of an overall funding cut.
Over the last five years savings of over £41m have been delivered and more than £30m of investment has been targeted in front line services during the last four years.
Cabinet also recommended a council tax increase of 4.8 per cent which equates to an extra £48.42 a year or less than 94p a week on a Band D property.
Even with this rise, Newport is expected to still have one of the lowest council tax rates in Wales.
The proposed budget, including the Council Tax increase, will now go before full Council on Tuesday 27 February.
Minutes from the meeting will be published in due course.
Ongoing public sector austerity measures, coupled with inflation and increased demand for services mean that more savings must be found – around £30m by 2022.
Welsh Government’s funding accounts for the largest part of the council’s budget, around 80 per cent of its total revenue.
Council tax from residents only raises around 20 per cent of the annual budget, with some income coming from fees, charges and other grants.
Our budget presentation provides more information on how the council spends its money and the challenges being faced.
View the full agenda and papers for the Cabinet meeting held on Wednesday 20 December 2017
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