FINANCE bosses will raise council tax by nearly five per cent - and borrow £10 million from reserves - to balance next year’s budget.
Rotherham Borough Council is set to increase the levy by 4.99 per cent - just below the five per cent threshold for a local referendum.
The increase includes three per cent which is ring-fenced for adult social care and follows a 3.95 per cent total hike last year.
The move will generate a total of £95 million in council tax for RMBC for 2017/18 - equivalent to 46 per cent of the revenue budget.
And it will mean band D properties paying £1,394 for the council’s services next year.
The council’s reserves stood at £99.7 million at the start of the current financial year last April.
Before Christmas, bosses proposed taking £5.2 million to help with budget pressures over the next two years.
Now they are suggesting taking a further £5.3 million - mostly to help with children’s services.
Chief finance manager Pete Hudson said: “The council currently has a healthy balance of reserves to mitigate overall budget risk in the short term and to support the budget in the medium term.
“The proposals include replenishing reserves that are being used and hence support a sustainable financial plan.
“In essence, the strategy is to use some reserves earlier than was previously planned and to replenish them later.”
The plans include a repayment back into the pot of £3 million a year from 2018/19.
We want to continue holding local authorities to account, attending court and council meetings, as well as providing breaking news, competitions and offers – but it costs money. Online advertising does not cover costs, therefore we feel the need to ask for your help in ensuring we can provide the best possible coverage, online and in our printed products.
For as little as £1, you can support the Rotherham Advertiser – and it only takes a minute.
Click here to support local news.