The next year will be one of “significant financial uncertainty,” but bosses at East Lindsey District Council say they are ready to meet all the challenges.
The authority’s Full Council on Wednesday approved a 3.49% increase in its share of the council tax as part of its budget.
The move equates to an increase of £4.95 for a Band D property, taking the annual yearly cost to £146.79.
Councillor Richard Fry said: “I am content we understand both our income and expenditure and therefore have confidence in our estimation of delivering a balanced budget while maintaining service levels.
“However, there is a word of caution as in the following year, the loss of Government grants really bite.”
The council needs to balance a budget of £79.599 million but bosses estimate it will face a deficit of £1.507 million by 2022/23 due to the changes in Government funding which will see grants decrease but income from business rates increase.
It is hoped the authority will bring in £6.601 million from council tax and estimated that £10.028 million will come in from business rates.
It proposes a capital programme of £9.515 million, while the authority will have £17.777 million in reserves.
ELDC’s Portfolio Holder for Finance Councillor Richard Fry. Photo: ELDC
Council bosses were keen to promote projects including new house building, investment in coastal infrastructure, plans for a new home for ELDC, along with Boston College, in Horncastle, and plans to tackle climate change.
A Labour amendment focusing on rough sleeping, food safety and electric vehicles as well as creating “pride in place” around the district, was voted down.
Lincolnshire County Council has approved a 3.5% rise – an extra £45, taking its share for a Band D property to £1,337.58.
Lincolnshire Police and Crime Commissioner Marc Jones has increased his share by 4.1% – an extra £9.99 for a Band D property. It takes the police share of tax to £217.44.
It is estimated the average Band D property will pay £1,800.57 in total, including parish precepts.
SUBSCRIBE TO LOCAL DEMOCRACY WEEKLY, our exclusive email newsletter with highlights from coverage every week, as well as insights and analysis from our local democracy reporters.
The Lincolnite welcomes your views. All comments are reactively-moderated and must obey the house rules. Please stay on topic and be respectful of other readers.
Exciting news for MyLocal app users and The Lincolnite readers! Our latest update is now available to download from your app store and comes packed with the best local news experience you can enjoy.
Revamped News Feed: Enjoy faster loading times and smoother scrolling that make catching up on local news a breeze.
New Play Video Feed: Dive into a dynamic video feed that brings local stories to life in a whole new way.
Enhanced In-App Browser: Access external links quickly and efficiently, right from the app, without any distractions.
Update your MyLocal app from your app store (version 2.73) now and start enjoying these great new features today!
P.S.: Start your MyLocal membership today to support MyLocal and The Lincolnite deliver you a better local news experience and honest journalism from across Lincolnshire.
P.P.S.: We have some huge things in the pipeline, stay tuned!
Exciting news for MyLocal app users and The Lincolnite readers! Our latest update is now available to download from your app store and comes packed with the best local news experience you can enjoy.
Revamped News Feed: Enjoy faster loading times and smoother scrolling that make catching up on local news a breeze.
New Play Video Feed: Dive into a dynamic video feed that brings local stories to life in a whole new way.
Enhanced In-App Browser: Access external links quickly and efficiently, right from the app, without any distractions.
Update your MyLocal app from your app store (version 2.73) now and start enjoying these great new features today!
P.S.: Start your MyLocal membership today to support MyLocal and The Lincolnite deliver you a better local news experience and honest journalism from across Lincolnshire.
P.P.S.: We have some huge things in the pipeline, stay tuned!