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

Other income

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

Grants and other funding

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

Spending changes - budget requirement

£m
£m
£m:
2022 to 2023 Budget requirement
£m:
-0.40
:
14.32
£m:
Town Hall lettings
£m:
-0.41
£m:
Garage rent increase
£m:
-0.46
£m:
Movement in investment interest
£m:
-1.17
£m:
Inflation
£m:
2.29
£m:
Homelessness
£m:
1.40
£m:
Reduced provision for covid
£m:
-0.71
£m:
Transfer from general fund reserve change
£m:
0.19
£m:
Other
£m:
0
:
0.74
£m:
Total
£m:
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 £m
Amount £m:
2022 to 23 Council Tax Requirement
:
7.82
Amount £m:
Changes above
:
0.74
Amount £m:
New Homes Bonus (reduced)
:
0.33
Amount £m:
Increase in Government Grant - finance settlement
:
-0.32
Amount £m:
Movement in collection fund
:
-0.01
Amount £m:
Retained Business Rates - increase
:
-0.47
Amount £m:
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