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.
The funding for the budget currently comes from several sources including council tax, business rates and government grants, fees and charges.
2019/20 is the final year of the government’s four-year local government financial settlement and core funding for the County Council is expected to reduce from £115 million in 2018/19 to £101.5 million in 2019/20. This is a reduction of £13.5 million or 11.7%.
This reduction has been offset to some extent by additional grants for winter pressures of £2.6 million and social care support of £6.1 million, but it is still a significant reduction to our funding at a time when there are huge pressures on social care services.
Over the nine-year period 2011/12 to 2019/20 the Council has had to make savings of just under £265 million.
There is currently great uncertainty about the level of future funding from government after 2019/20.
In addition to the impact of the government’s new comprehensive spending review (CSR 2019), expected later in 2019, and the planned business rate funding reset, there are two significant reforms to local government funding the government is consulting on – Business Rates Retention Reform and the Fair Funding Review.
There is currently no information available on the impact these changes will have on the level of funding local government can expect after 2019/20.
The prospect of the UK’s departure from the EU (Brexit) also creates further uncertainty of the impact on funding of local government.
- Budget Book 2019/20
- Budget book 2018/19
- Budget book 2017/18
- Budget book 2016/17
- Budget book 2015/16
- Budget book 2014/15
- Budget book 2013/14
- Budget book 2012/13
Revenue and capital outturn
- Revenue and capital outturn report for 2018/19
- Revenue and capital outturn report for 2017/18
- Revenue and capital outturn report for 2016/17
- Revenue and capital outturn report for 2015/16
- Revenue and capital outturn report for 2014/15
- Revenue and capital outturn report for 2013/14