Issue - meetings

Background:

This report provided Cabinet with details of the provisional Local Government settlement announced by Government on 8 December 2011, with consultation undertaken by central government until 16 January 2012. The report set out the impact of the settlement on Medway’s formula grant, the figure for 2012/2013 which was £80.743m. This represented a reduction of 8.3% against 2011/2012 on a like-for-like basis.

The report stated that the Dedicated Schools Grant (DSG) funding was expected to remain the same for 2012/2013 at £4,953 per pupil.  

The report provided details of the capital settlement with regard to the Department for Transport and Department for Health, however, figures had yet to be provided by Communities and Local Government and the Department for Education.

Reasons:

These provisional levels of grant form a fundamental component of the 2012/2013 budget and their announcement is a further stage in the process of preparing a balanced budget.