Financial targets are set for all the areas of activity that are undertaken by the County Council. Day-to-day expenditure and income are referred to as revenue, and investment in assets is referred to as capital.

Elected members approve all budgets of the Authority and throughout the year monitoring of expenditure and income is undertaken to ensure that spending remains under control.

The funding for the budget currently comes from several sources including Council Tax, business rates, government grants, and fees and charges.

The Council’s core spending power, which is set out by government as part of the annual Local Government Finance Settlement, has increased by 7.8% in 2024/25. This includes general grant funding provided by government and the government assumption that the full Council Tax increase will be applied without triggering a referendum, and for Devon in 2024/25 is slightly above the national average increase of 7.5%. It has contributed towards enabling the Authority to increase funding for services by £43.8 million for 2024/25.

Infographic showing 2024-25 - spending plans

The increase in funding is welcomed but by itself is not enough for the Authority to set a balanced budget for 2024/25 without making significant budget savings and generating additional income, with high inflation and demand for services driving cost increases well above the increase in available funding.

Building on the Authority’s Financial Sustainability Programme launched in 2022, further focus on costs and income is embedded in the Stronger and Sustainable Council strategy that has set the direction for building the budget for services in the year ahead. Savings and new income of £49.6 million are reflected within service budgets to ensure services remain affordable.

Delivery of the savings and the improvements in services through change programmes will not be easy and will include some difficult choices but we are determined to live within our means. Delivery of the 2024/25 budget enables us to move forward with investment in our services to drive continuous improvement and efficiency in all areas of our organisation.

Budget

Revenue and capital outturn

Devon County Council is a precepting authority and does not administrate council tax. Enquiries about payments, rebates or benefits should be made to your district or city council.

More information

Council Tax

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