Council publishes its 'budget book'

At a meeting of the council’s cabinet on Tuesday, May 21 senior councillors received a report that the “Budget Book” for 2024/2025 has been published.

Finance portfolio holder, Labour’s Councillor David Thomas said: “The council’s budget book provides detailed information and analysis of services budget for 2024/2025.

“It details of how and where we will spend money over the coming 12 months to turn the council’s priorities into reality on a service by service stage.

“It represents the first stage of the budget monitoring process for 2024/2025 and while the budgets contained may be updated in response to changing circumstances or the availability of new funding, this will remain the yardstick by which the council will measure its financial performance over the year.”

At a council meeting in February the budget for 2024/2025 which includes a 7.5 per cent council tax rise was narrowly approved.

The council budget has gone up to of £341.63 million following 2.8 per cent increase in funding from the Welsh Government.

To balance next year’s budget a funding gap of £18.458 million needs to be plugged.

Of that figure £10.652 million of this will be addressed by the council in a mixture of cuts, savings, and income generation.

The council tax increase is supposed to cover the remaining £7.805 million.

Councillor Thomas confirmed that funding was now being allocated down to “individual managers” in the council.

Councillor Thomas said: “It’s really for information and for you to read through.”

Deputy head of finance Craig Flynn explained that any inter budget money transfers known as “virements” against departmental allocations would need to be “approved” through the relevant process.

Councillors noted the document.

The book shows that 31 per cent of the council’s funding comes from Council Tax payments which makes up £105.76 million of the council’s net budget of £341.63 million.

The balance of £235.87 million comes from the Welsh Government in the annual revenue support grant and business rate distribution.

The council’s total or gross expenditure is expected to be £547.52 million which includes £214.98 million in income generated from grants and charging for services.