How the Council’s budget has changed compared to 2022/23 | What does Council Tax pay for? | Oldham Council

5. How the Council’s budget has changed compared to 2022/23

The following tables show how the net revenue expenditure budget, financing and use of reserves for 2023/24 has changed from the previous year (2022/23).

  £000 £000 £000
Base Budget 2022/23     260,686
Budget Adjustments      
Adjustments to the Base Budget      
Add back one-off 2022/23 measures - Flexible use of capital receipts 2,500    
Removal of one-off 2022/23 expenditure (625)    
Total Adjustments to the Base Budget   1,875  
Flexible use of capital receipts to support the 2022/23 Budget    (2,600)  
Expenditure Adjustments      
- Pay Inflation (less adjustment for the reversal of the Social Care levy) 11,292    
- Contractual, Service and Energy Inflation 12,813    
- Adult Social Care - Demand Pressures/Demographics 12,282    
- Children's Social Care Pressures 11,450    
- Children's Social Care - One Off Investment 2,900    
- Unachieved/Reprofiled 2022/23 Budget Reductions 2,895    
- Cost of Living Support 1,790    
- Home to School Transport 1,000    
- Markets Relocation 542    
- Other Expenditure Pressures 580    
- Corporate Financing Costs 365    
- COVID Legacy Costs 12,000    
- Parish Precepts (Funded by Parish Precept Income) 14    
Total Expenditure Adjustments   45,923  
Levies      
- Impact of Levies, the Statutory Charge and Contributions 1,135    
Total Levies   1,135  
Total Net Budget Adjustments   46,333  
Approved Budget Reductions      
Budget Reductions approved at 2021/22 and 2022/23 Budget Setting (3,655)    
Budget Reductions approved as part of 2023/24 Budget Setting (16,313)    
Total Approved Budget Reductions   (19,968)  
Increase in the Net Expenditure Budget   26,365 26,365
Net Expenditure Budget for 2023/24     287,051

Financing

  £000 £000
Total Financing for the 2022/23 Budget   (260,686)
Changes to Financing for 2023/24    
 - Increase in General Unringfenced Government Grants (5,516)  
 - Increase in Grants In Lieu of Business Rates  (6,516)  
 - Increase in Retained Business Rates Revenue (1,833)  
 - Increase in Council Tax Revenue including the Adult Social Care Precept (6,063)  
 - Increase in Parish Precept Council Tax Revenue (14)  
 - Collection Fund (5,015)  
  - Use of reserves (907)  
 - Transfer to Reserves (501)  
Total Changes to Financing for 2023/24   (26,365)
Total Financing for the 2023/24 Budget   (287,051)