Revenue and capital budget

The production of the budget is the means by which the council expresses in financial terms its plans for service provision in the coming year.

Whilst the most visible outcome of the budget process is the declaration of the Council Tax, the budget clearly has a greater significance and meaning for the council:

  • it allocates the council's total financial resources between different directorates, services and portfolios
  • it prioritises resources to align with and deliver the council's strategic planning framework 

The Mayor's 2017/18 revenue budget proposals have been approved by full council

Full Council approved the Mayor's revenue budget proposals for 2017/18 at a meeting on Thursday 2nd March 2017.

The Council is estimating having to find £23.5m of financial pressures in 2017/18, increasing to £66.8m a year by 2021. The approved budget is based on reduced but sustainable income and only uses minimal one-off reserves in 2017/18 in line with the financial strategy. Delivery of the budget continues to depend on achieving the challenging reductions in spending and delivering high quality key services.

You can read more about the Mayor's approved budget in the document below.

Revenue Budget 2017-18
Download (2MB)

Proposals for spending on capital expenditure have also been approved

The Mayor's proposals for spending on major projects known as capital investment were also approved. These are separate to her revenue budget proposals. These are funds which cannot be spent on paying for services but on building and major infrastructure projects.

The Council will continue to invest in the Borough's future with an estimated £332m of Capital investment over 2017/18 to 2020/21. This includes investment in education, housing, infrastructure, leisure and culture as well as boosting tourism and attracting investors.

 You can read more about the proposals in these documents.

Capital Programme 2017-18 to 2020-21
Download (505KB)
Capital Budget Appendix 1
Download (69KB)

Capital Budget Appendix 2
Download (215KB)

Capital Budget Appendix 3
Download (236KB)

Proposals for spending on the Housing Revenue Account have also been approved

The Housing Revenue Account is separate to the Council's General Fund account. The Housing Revenue Account is now self-financing; day to day repairs and management costs, and major investment programmes such as thermal efficiency works are funded from rents collected.

You can read more about the proposals in these documents.

Housing Revenue Account Budget 2017-18
Download (325KB)
HRA Appendix A & B
Download (30KB)
HRA Appendix C
Download (333KB)

More information

 

Last updated: 19 September 2017 08:09:33