The Council met on Wednesday evening and set its budget for 2016 – 2017.
Despite a further grant reduction by NFDC of £12,114 and the prospect of increasing service costs, this Council has a desire to maintain current services whilst making provision for the long term maintenance of its buildings and assets. As a result the Council has agreed a small 8 pence per week (per Band D property) rise in the precept. To be able to do this, Councillors identified savings as they recognise the financial strain being placed on households.
The Council will continue to manage its budget in a prudent and focussed manner whilst continuing to work with the community to maintain Hythe as a pleasant and safe place to live and work.
The spending requirement for 2016/17 is £639,916 of which £12,114 is a grant payment which is payable as part of the Council Tax Reduction Scheme. As a result the Precept figure for 2016/17 is £627,802.
The Council faces further challenges in the coming years through increased costs and the total loss of grant from 2018/19. In an attempt to mitigate the impact, the Council will be taking over the management of the Hythe Tuesday Market, for which it will receive an income from spring 2016. As part of the takeover the market will be moving to the Village Centre where a number of new products will be available from a wider variety of stalls. Other potential areas of income for the Council will be investigated in the coming months.