The local council is set to review budget proposals, public feedback, and address overspending issues, aiming for final budget approval on February 24.
The council members will share their budget ideas. The final vote happens on February 24. This sets the budget for 2024 to 2025.
They talked about the budget back in January. They looked at raising Council Tax almost five percent. Some services might get cut, and some fees will go up, like for waste removal.
The council will check feedback from other councilors and look at what the public said. Then they make their final budget plans.
The council’s spending is more than expected. They might overspend by about twelve million pounds for everyday costs this council year.
They are trying to save money, but rising care costs are hurting the budget. Councils must help with care costs by law.
The council must cut costs even more. This means tighter spending controls are needed for the rest of the year.
The council also needs to change how they work and find ways to lower costs. They need to work better with charities to adapt as a smaller group.
Using savings is possible, but risky; the council can only use savings once, so they need to be careful.
The council will check its money strategy. This involves spending on buildings and roads, managing money risks, and setting borrowing limits.
This plan includes short, medium, and long-term plans. It explains how the council will borrow, invest, and lend.
They will vote on capital investments and approve the capital program. The council will then vote on these ideas.
Borrowing costs will be about four hundred thousand pounds for 2025-26. It climbs to almost four million by 2027-28. This covers the council’s plans.
These plans go to 2030 and include tech upgrades, building repairs, vehicle care, and better heating systems. Sports updates are in the plan, too.
The council needs about four hundred and three million pounds. This covers six years, from 2024 to 2031. They might borrow about one hundred seven million pounds; grants should cover two hundred eighty-three million. About eleven million will come from revenue, including new homes, and past budgets have almost one million already set aside.
