5. How the Council’s budget has changed compared to 2023/24
The following tables show how the net revenue expenditure budget, financing and use of reserves for 2024/25 has changed from the previous year (2023/24).
Expenditure |
£000 |
£000 |
£000 |
|---|---|---|---|
|
Base Budget 2023/24 |
|
|
275,474 |
|
Budget Adjustments |
|
|
|
|
Adjustments to the Base Budget |
|
|
|
|
Add back one-off 2023/24 Measures - Flexible use of capital receipts |
2,600 |
|
|
|
Reversals - Use of Reserves, MRP |
14,714 |
|
|
|
Total Adjustments to the Base Budget |
|
17,314 |
|
|
Flexible use of capital receipts to support the 2023/24 Budget |
|
(2,600) |
|
|
Expenditure Adjustments |
|
|
|
|
- Pay and Price Inflation |
8,993 |
|
|
|
- Public Health |
918 |
|
|
|
- Fees & Charges |
(1,000) |
|
|
|
- General Demand Pressures/ Demographics |
2,350 |
|
|
|
- Impact of National Living Wage Foundation Living Wage Commitment |
6,236 |
|
|
|
- Adult Social Care - Adult Social Care Discharge Fund (BCF) |
(1,046) |
|
|
|
- Adult Social Care - Market Sustainability and Improvement Fund |
(1,324) |
|
|
|
- Adult Social Care - Market Sustainability and Improvement Fund 2023/24 |
(958) |
|
|
|
- Additional Pressures |
10,000 |
|
|
|
- Temporary Accomodation |
2,162 |
|
|
|
- Development Fund / Political Priorities / Commitments |
500 |
|
|
|
- Home to School Transport - Additional Costs |
750 |
|
|
|
- Capital Charges |
1,450 |
|
|
|
- Investment Income |
(1,250) |
|
|
|
- Other |
806 |
|
|
|
Total Expenditure Adjustments |
|
28,587 |
|
|
Levies |
|
|
|
|
- Impact of Levies, the Statutory Charge and Contributions |
872 |
|
|
|
Total Levies |
|
872 |
|
|
Total Net Budget Adjustments |
|
44,173 |
|
|
Approved Budget Reductions |
|
|
|
|
Previously Approved Budget Reduction Proposals |
(8,800) |
|
|
|
Budget Reductions approved as part of 2024/25 Budget Setting |
(11,027) |
|
|
|
Total Approved Budget Reductions |
|
(19,827) |
|
|
Increase in the Net Expenditure Budget |
|
24,346 |
24,346 |
|
Net Expenditure Budget for 2024/25 |
|
|
299,820 |
Financing |
£000 |
£000 |
|---|---|---|
|
Total Financing for the 2023/24 Budget |
|
(287,051) |
|
Changes to Financing for 2024/25 |
|
|
|
- Increase in General Unringfenced Government Grants |
(5,597) |
|
|
- Increase in Grants In Lieu of Business Rates |
(1,594) |
|
|
- Increase in Retained Business Rates Revenue |
(2,600) |
|
|
- Increase in Council Tax Revenue including the Adult Social Care Precept |
(7,160) |
|
|
- Increase in Parish Precept Council Tax Revenue |
(22) |
|
|
- Collection Fund |
3,380 |
|
|
- Use of reserves |
2,033 |
|
|
- Transfer to Reserves |
(1,209) |
|
|
Total Changes to Financing for 2024/25 |
|
(12,769) |
|
Total Financing for the 2024/25 Budget |
|
(299,820) |