Councillors are to meet later discuss an increase in council tax for people living in Wellingborough.
If the provisional increase was given the go-ahead, it would be an increase of £5 (4.73 per cent) for 2018/19, a £5 increase (4.52 per cent) for 2019/20 and a £2.30 increase (1.99 per cent) for 2020/21.
A report prepared ahead of the meeting states: “The council continues to face a significant financial challenge to match its current spending levels with the future forecasts for funding.
“In order to allow for the development and implementation of proposals to meet this challenge the forecast financial position for the next four years has been estimated and savings of approximately £950k in 2017/18 are needed to give a fully funded position.
“The council has already made significant efficiencies in previous years and so the challenge is made more difficult by the limited potential available for consideration.
“With this in mind the initial budget assumption for 2017/18 hasn been based on current budgets and adjusted for any known pressures and savings proposals.
“Service areas have been vigilant in finding efficiencies to keep the budget to its current level.
“The budgets for those areas covered by potential proposals will continue to remain at a “stand still” position for 2017/18 whilst proposals are developed and agreed, and any proposed changes or variations will be reported to this committee.
“This will mean that the council will again need reserves to fund its revenue budget whilst more robust and deliverable savings solutions are developed.”
People were asked to take part in a consultation ahead of setting this year’s council tax, including asking them if they supported the proposal to increase the borough council element of council tax by five per cent this year.
Of those who responded, 56.25 per cent said yes and 43.75 per cent said no.
The proposals will be discussed at the resources committee meeting starting at 7pm this evening at Swanspool House in Wellingborough.