Medium Term Financial Strategy
The Medium Term Financial Strategy (MTFS) is the Council’s overarching Financial Strategy and Policy document. The purpose of the MTFS is to give financial expression to the Council’s plans over the medium term in the context of the Council’s longer term plans as set out in the approved Business Plan (approved by Council on 21 February 2019).
Read our Medium Term Financial Strategy [PDF, 0.4MB]
|
- |
2023/2024 |
2024/2025 |
2025/2026 |
2026/2027 |
2027/2028 |
|
|
|
- |
£’000 |
£’000 |
£’000 |
£’000 |
£’000 |
N/A |
|
|
Council Tax |
11,155 |
11,824 |
12,513 |
13,203 |
13,811 |
N/A |
|
|
Retained Business Rates |
12,107 |
12,107 |
5,691 |
6,241 |
6,525 |
N/A |
|
|
Revenue Support Grant |
228 |
245 |
921 |
899 |
879 |
N/A |
|
|
New Homes Bonus (NHB) |
1,508 |
1,000 |
- |
- |
- |
N/A |
|
|
Rural Services Grant |
260 |
260 |
137 |
137 |
137 |
N/A |
|
|
Section 31 Grant |
5,818 |
- |
- |
- |
- |
N/A |
|
|
Collection Fund Surplus |
770 |
- |
- |
- |
- |
N/A |
|
|
Total Resource |
32,918 |
25,938 |
19,278 |
20,496 |
21,368 |
N/A |
|
|
Net Budget Requirement: Before Adjustments |
24,316 |
31,624 |
22,843 |
22,659 |
23,228 |
N/A |
|
|
Budget Pressures * |
347 |
99 |
22 |
- |
- |
N/A |
|
|
Savings/Income Identified |
(1,054) |
(1,054) |
- |
- |
- |
N/A |
|
|
Other Base Budget Changes ** |
6,710 |
(7,023) |
44 |
419 |
260 |
N/A |
|
| Net Budget Requirement |
31,624 |
22,843 |
22,659 |
23,228 |
23,588 |
N/A |
|
| Net Resource Position |
1,294 |
3,095 |
(3,381) |
(2,732) |
(2,220) |
N/A |
|
* Further service pressures will, however, exaggerate the funding gap and, wherever possible, should be managed within existing cash limit budgets.
** Other base budget adjustments include the cost of borrowing, investment income and pay and price inflation.