|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MEDIUM TERM FINANCIAL
PLAN 2010/11 - 2013/14 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2008/09 |
|
2009/10 |
|
2010/11 |
|
2011/12 |
|
2012/13 |
|
2013/14 |
|
|
|
|
|
|
|
|
£'000 |
|
|
£'000 |
|
£'000 |
|
£'000 |
|
£'000 |
|
|
|
|
|
|
|
|
|
|
|
|
Initial Budget |
|
|
297,926 |
|
310,369 |
|
300,957 |
|
290,309 |
|
|
|
|
|
|
|
|
|
|
|
|
Inflation and Other
Contingencies |
|
|
8,266 |
|
|
|
|
|
|
|
Pay |
|
|
|
714 |
|
714 |
|
2,641 |
|
|
|
|
|
|
Other inflation (Non-staffing budgets) |
|
|
|
3,356 |
|
3,311 |
|
3,165 |
|
|
|
|
|
|
|
|
|
|
|
|
Committed
Growth |
|
|
|
|
|
|
|
Approved to date |
|
|
3,691[1] |
|
3,004 |
|
1,641 |
|
0 |
|
|
|
|
|
Growth 2011-12 onwards- -assume can be met from existing contingencies in
11/12 |
|
|
|
|
0 |
|
4,500 |
|
3,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings |
|
|
|
|
|
|
|
Approved in March 2009 and March 2010 |
|
|
-4,520 |
|
-180 |
|
|
|
|
|
|
|
|
|
|
|
2010/11 savings target
(Cabinet 7.7.2010) |
|
|
|
|
|
|
|
Reduction in Specific
Grants |
|
|
4,125 |
|
|
|
|
|
One-off savings towards 2010/11 target |
|
|
-545 |
|
545 |
|
|
|
|
|
Ongoing savings towards 2010/11 target |
|
|
-7,085 |
|
|
|
|
|
Increase in budget
contingency |
|
|
3,505 |
|
-545 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Adjustments
Required |
|
|
|
|
|
|
|
|
|
London Pensions Fund Authority Levy |
|
|
353 |
|
235 |
|
|
|
|
|
|
Capital Financing
and Investment |
|
|
2,365 |
|
777 |
|
-827 |
|
134 |
|
|
|
|
|
|
Pensions Fund (Estimate pending Valuation) |
|
|
|
2,500 |
|
800 |
|
800 |
|
|
|
|
|
|
One off savings in previous years |
|
|
|
419 |
|
|
|
|
|
One off spending in 2008/09 |
|
|
-317 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
Funding |
|
|
|
|
|
|
|
|
Prioritisation of Area Based Grant |
|
|
-295 |
|
3,796 |
|
|
|
|
|
|
|
|
|
|
|
|
Service Improvement Growth |
|
|
|
|
|
|
|
|
You Decide |
|
|
-2,380 |
|
|
|
|
|
|
|
|
|
|
Contribution to
Investment Reserve |
|
|
2,900 |
|
-2,900 |
|
|
|
|
|
|
|
|
|
|
Annual savings target |
|
|
|
-18,753 |
|
-20,787 |
|
-17,992 |
|
|
|
|
|
|
|
|
|
|
Budget Requirement |
|
|
295,498 |
|
297,926 |
|
310,369 |
|
300,957 |
|
290,309 |
|
282,557 |
|
|
|
|
|
|
|
|
|
|
|
Formula Grant (25% real terms
reduction over 4 years) |
|
-224,997 |
|
-228816 |
|
-232,204 |
|
-221,523 |
|
-211,337 |
|
-201,611 |
|
|
|
|
|
Collection Fund Surplus / Deficit |
|
-1,505 |
|
2000 |
|
-3,478 |
|
-2,011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
68,996 |
|
71,110 |
|
74,687 |
|
77,423 |
|
78,972 |
|
80,946 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Council
Tax Base |
|
79,705 |
|
80303 |
|
84,343 |
|
87,432 |
|
89,181 |
|
91,410 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Recommended Band D
Council Tax - Tower Hamlets |
|
£836.37 |
£865.64 |
|
£885.52 |
|
£885.52 |
|
£885.52 |
|
£885.52 |
|
£885.52 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in Council Tax
(planning figure only) |
|
|
|
|
0.00% |
|
0.00% |
|
0.00% |
|
0.00% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative savings
target (Three Year Budget) |
|
|
|
-57,532 |
|
|
|
|
NB Forecasts are incremental year on
year, not cumulative |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries |
|
|
142,557 |
|
135,429 |
|
132,043 |
|
128,742 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|