TAXPAYERS could be set to see a council tax increase as the council aims to balance its budget for the coming year.

This comes despite more than £3m of planned savings and could mean Bracknell residents have to pay at least an extra £30 a year if councillors choose to increase tax by 2.99 per cent.

Cllr Paul Bettison OBE, leader of Bracknell Forest Council, said: “Like many other local authorities, Bracknell Forest continues to faces significant financial challenges and this is unlikely to change in the near future.

“We have taken a number of considered steps over the past two years to help us deliver large scale savings through our council-wide transformation programme, while also improving and modernising services for residents, businesses and visitors.

“We had a target of making savings of £11m by April 2019. However, through forward planning and good financial management we have already met this target more than six months ahead of schedule.

“Our draft proposals show we are approaching 2019/20 in an equally careful and considered way to continue to minimise any impact on residents.”

The council’s revenue budget anticipates £75.9m of income from council tax, business rates and government grants but the authority has allocated £78.5m for spending.

This means the authority has to find another £2.5m to balance its budget, and around £1.5m of this money is likely to be raised from a 2.99 per cent council tax increase.

The remaining £1m is likely to come from the council’s revenue reserves, meaning the authority would have £5.5m of security money left - just £1.5m more than the council’s minimum limit for its reserves.

Alternatively, councillors could vote to make more cuts from the authority’s services after the proposed budget comes back from consultation.

However, more than £600,000 is already planned to be saved from adult social care, with a further £700,000 cut from children’s social care as part of plans to offer different packages for adults and children.

A quarter of a million pounds will be scrapped from council public transport subsidy and the council is also hoping to save more than £40,000 from parks and open spaces.

A further £1.9m is set to be saved from ‘efficiency savings’, meaning costs will be reduced by limiting spending in various areas of the council including, for example, grants to local charities, as well as greater income from improved services, such as an increase in the number of cremations at Bracknell cemeteries.

Councillors will make their final decision on how to bridge the gap at a meeting in late February.

Bracknell Forest Council is set to invest in a number of facilities across the borough as it is set to dip in to its capital budget.

A new youth centre at Braccan’s Walk could cost £750,000, with the amalgamations of Holly Spring Junior and Holly Spring Infant and Nursery set to amount to £320,000.

The combination of Ascot Heath Infant and Ascot Heath CE Junior Schools and additional security measures at Fox Hill School could mean a further £560,000 is spent on developing other schools in the borough.

More than £2m would be spent on new waste collection vehicles if the council’s budget is approved, with planned buildings maintenance costing a further £1.1m.

Cllr Peter Heydon, executive member for transformation and finance, said: “It is important to us that we spend our money on things that make a positive contribution to the borough and its residents.

“Every year we have the challenge of identifying areas where we can make savings and implement them and the coming year will be no exception. As an authority we have a very good track record of managing finances well, working within our means without overspending on budgets, while continuing to provide high quality frontline services.

“Our transformation programme has already proved successful in ensuring we are systematically thinking about delivering services in different ways while making important savings. A recent example is that the council has kept all its libraries open and will shortly install further technology to extend their opening hours.

“We remain committed to consulting with residents on major changes and making the best financial decisions available to us to minimise the impact on our communities. I would encourage residents to look at the draft budget proposals on the council’s website and to take the time to feedback their thoughts on them.”

The News reported earlier this year that the council’s finances face a “cliff edge” scenario in 2020 when a new government funding system and a new business rates scheme come into force, meaning the council could face a larger funding gap in the future. 

However the council invested millions into a ‘future funding reserve’ from money it received after being part of a new pilot scheme for business rates this year in an attempt to offset the anticipated funding gap.

Residents have six weeks to make comments on the council’s budget proposals from Wednesday, December 19.