Councillors at Daventry District Council have set the budget for the forthcoming financial year.
The £9.6 million revenue budget for 2014/15 was agreed at a meeting of Full Council on Thursday, February 27.
The budget includes the authority’s Medium-Term Financial Plan, which takes account of a 13.3% reduction in its funding from central Government through the Local Government Finance Settlement.
Measures identified to bridge the deficit for the next financial year include additional savings to running costs, such as printing and contract reviews, which will reduce spending by more than £100,000 in the next financial year.
The Council is also due to receive fresh income from invest-to-save schemes including the joint crematorium development with Rugby Borough Council, and from the new homes for private rent at Middlemore. Further invest-to-save projects are also being considered, including proposals for a hotel on Site 3 of the Daventry Town Centre Vision and another homes for rent scheme.
The budget also includes details of the authority’s Council Tax level for 2014/15. It was agreed that DDC’s portion of the Council Tax bill will increase by an additional £2.45 a year for a Band D property – equivalent to about an extra 5p a week.
Councillor Jo Gilford, Resources Portfolio Holder at Daventry District Council, said: “With the reduction in local government funding and the likelihood of further reductions in the years ahead our consistent strategy has focused on having less reliance on central Government grants, with the eventual aim of being self-sustaining.
“We have planned well as an authority over the past four years to tackle our financial challenges and that is reflected in this budget.
“This is a prudent budget representing the continued commitment by this Council to make efficiencies where possible, as well as deliver innovative schemes that generate new income streams and secure the future of the services we provide to our community.”