Residents in West Lindsey are set to face a 2.99% hike in their council tax as the district council looks to raise funds for its coffers.
The increase, set to go before a committee next Thursday, will equate to £6.20 and see the level of council tax for a Band D property go from £207.27 to £213.47.
The authority says this will generate an income of £6.304million – an additional £220,000.
It is just under the maximum allowed by the secretary of state before a referendum would be triggered.
A report before members from the Chief Finance Officer says that: “Despite the current economic uncertainty and issues around local government reform the council remains in a stable financial position, with adequate reserves to deal with any economic impacts and work will continue to be undertaken to ensure that the council is in a sound position to manage its budget within the anticipated funding reductions.”
It will say that in three out of the last seven years council tax has been frozen, despite pressures totalling around £1million.
However, it will say it needs a budget of £14.7 million for 2019/20 which it says will be helped by things such as employee pay awards, commercial property investments it has made and Government grants.
However, like other councils, West Lindsey has seen a reduction in those central pots, the report will detail how the authority has dealt with more than £4 million reduction in funding over the past four years.
It also includes the Revenue Support Grant, where a final settlement this year will see WLDC receive just £65,000 to help balance its budget.
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