Each year the Council must plan ahead and prepare budgets for the new financial year which starts on 1st April. There are in fact two separate budgets - one for Revenue and the other for Capital expenditure.
The Council's total revenue expenditure, excluding expenditure relating to Council Housing is charged to the General Fund. The net expenditure on the General Fund after allowing for government grants, contributions to and from revenue balances and direct charges for services is met by the Council Tax payer. The net expenditure on Council Housing is mainly recovered by way of rents from Council House tenants.
The Council's Capital Budget funds expenditure on the purchase, maintenance and improvement of assets that provide benefit to the community for many years to come - such as schools and roads.
A budget for 2023/24 was set at Full Council on 1 March 2023. This budget rejected savings proposals to cut primary school swimming provision and school crossing patrollers meaning these services will continue in their current form. The service charges and costs of hiring community campus spaces have also been frozen.
Savings on the winter maintenance budget, street cleaning and local bus services have also been rejected.
A council tax increase of 3.9% was decided.
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