Council finances summary

We receive income of £121.8 million and we spend £136.86 million, which means our net budget to pay for services is £15.06 million.

The government give us grants, including Business Rates relief grants of £1.18 million and retained Business Rates and Collection Fund Surplus £5.78 million.

The amount to be met from Council Tax is £8.1 million

  • Our borrowing at April 1 2022 was £260 million
  • Our investments at April 1 2022 were £129 million
  • On 21 February we employed 580 people

Cost of providing council services

Expenditure £³¾
Income £³¾
Net £³¾
Expenditure £³¾:
Council housing
Income £³¾:
53.75
Net £³¾:
53.75
:
0.
Expenditure £³¾:
Other housing services
Income £³¾:
35.45
Net £³¾:
30.79
:
4.66
Expenditure £³¾:
Wellbeing
Income £³¾:
17.62
Net £³¾:
7.71
:
9.91
Expenditure £³¾:
Public protection and community engagement
Income £³¾:
1.55
Net £³¾:
0.18
:
1.37
Expenditure £³¾:
Planning and economic development
Income £³¾:
3.56
Net £³¾:
1.61
:
1.95
Expenditure £³¾:
Other services
Income £³¾:
18.15
Net £³¾:
21.52
:
-3.37
Expenditure £³¾:
Other environmental services
Income £³¾:
5.93
Net £³¾:
3.47
:
2.46
Expenditure £³¾:
Refuse collection, recycling and cleansing
Income £³¾:
3.64
Net £³¾:
0.73
:
2.91
Expenditure £³¾:
Less capital charges
Income £³¾:
-3.73
:
-3.73
Expenditure £³¾:
Total
Income £³¾:
135.92
Net £³¾:
119.77
:
16.16

Other income

Expenditure £³¾
Income £³¾
Net £³¾
Expenditure £³¾:
Investment income
Net £³¾:
1.77
:
-1.77
Expenditure £³¾:
Interest paid
Income £³¾:
0.94
:
0.94
Expenditure £³¾:
Transfer from reserves
Net £³¾:
0.26
Expenditure £³¾:
Net budget requirement
Income £³¾:
136.86
Net £³¾:
121.80
:
15.06

Grants and other funding

Net £³¾
Net £³¾:
Government grant
:
-0.22
Net £³¾:
Funding guarantee
:
-0.54
Net £³¾:
Services grant
:
-0.14
Net £³¾:
New homes bonus
:
-0.27
Net £³¾:
Retained Business Rates
:
-5.70
Net £³¾:
Surplus on collection fund
:
-0.08
Net £³¾:
Amount to be met from Council Tax
:
8.10

Spending changes - budget requirement

£³¾
£³¾
£³¾:
2022 to 2023 Budget requirement
£³¾:
-0.40
:
14.32
£³¾:
Town Hall lettings
£³¾:
-0.41
£³¾:
Garage rent increase
£³¾:
-0.46
£³¾:
Movement in investment interest
£³¾:
-1.17
£³¾:
Inflation
£³¾:
2.29
£³¾:
Homelessness
£³¾:
1.40
£³¾:
Reduced provision for covid
£³¾:
-0.71
£³¾:
Transfer from general fund reserve change
£³¾:
0.19
£³¾:
Other
£³¾:
0
:
0.74
£³¾:
Total
£³¾:
2023/2024 Budget requirement
:
15.06

  • The budget requirement for 2023 to 2024 is £15.06 million
  • The budget requirement for 2022 to 2023 was £14.32 million

Spending changes - Council Tax requirement

Amount £³¾
Amount £³¾:
2022 to 23 Council Tax Requirement
:
7.82
Amount £³¾:
Changes above
:
0.74
Amount £³¾:
New Homes Bonus (reduced)
:
0.33
Amount £³¾:
Increase in Government Grant - finance settlement
:
-0.32
Amount £³¾:
Movement in collection fund
:
-0.01
Amount £³¾:
Retained Business Rates - increase
:
-0.47
Amount £³¾:
2023 to 24 Council Tax requirement
:
8.10

  • The Council Tax requirement for 2023 to 2024 is £8.1 million
  • The Council Tax requirement for 2022 to 2023 was £7.82 million