Budget 2012-2013

The Full Council considered and formally approved the 2011/12 Council Tax and Budget Setting Report on the 2nd of March 2011. As part of that budget setting process the proposals around the 2012/13 budget were also endorsed.

From a balanced net revenue position in 2011/12 the 2012/13 plan was set to generate a £3.2m surplus to be used to increase reserves in anticipation of further central government funding reductions taking effect in 2013/14 and beyond.

The plans for 2012/13 at that time still hold firm and the budget currently being formulated at the moment mirrors those decisions.

In order to offset approximately £13m of central government grant reductions and fund around £7m of additional cost pressures, the proposals identified £23m of planned savings – thus resulting in a net surplus for 2012/13 of £3m.

Details of the individual savings can be found by reference to Schedule 3a of the 21st of February Cabinet report.

The table below shows the 2012/13 budgets by both Cabinet Member and management (SEB) structure re-cast from the February 2011 position to reflect changes in management responsibility and structure.

Westminster Council would welcome your comments or observations on the proposed Council budget in advance of the 20th of February Cabinet meeting to consider and recommend the final budget to Full Council.

Please send any comments you wish to make  by Monday the 6th of February, to:

Matthew Davis

Senior Financial Analyst

Westminster City Council

16th Floor, City Hall

64 Victoria Street

London

SE1 6QP

Email: mdavis@westminster.gov.uk

Phone 0207 641 2819