Budgets

council tax 2020-21 graphic shoing councils spending plans

Budgets Pie Chart 2020-21 Income £1,390 millions Budgets pie chart 2019-20 gross income £1,294 millions

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 and government grants, fees and charges.

2019/20 was the final year of the government’s four-year local government financial settlement and core funding for the County Council is expected to increase from £101.5 million in 2019/20 to £103.2 million in 2020/21. This increase of £1.65 million or 1.63% is in line with the September 2019 CPI inflation figure. This is a welcome change from the 11% average annual reduction since austerity began in 2010. Over the ten-year period 2011/12 to 2020/21 the Council has had to make savings of just over £272 million.

It was hoped that 2020/21 would be the start of a new multi-year settlement that would incorporate the outcome of a new Comprehensive Spending Review the Government’s Fairer Funding review and the proposed changes to Business Rates. This, unfortunately, has not happened. Brexit and the national political issues resulted in all of this being delayed.

There are significant ongoing pressures in both adult and children’s services with the greatest area of concern being the funding shortfall on the Dedicated School’s Grant High Needs Block and the lack of information from government on what they intend to do about it.

Budget

Revenue and capital outturn

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