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, 0.3MB]

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-

2020/2021

2021/2022

2022/2023

2023/2024

2024/2025

2025/2026

 

-

£’000

£’000

£’000

£’000

£’000

£’000

N/A

Council Tax

9,562

9,949

10,424

10,847

11,277

11,714

N/A

Retained Business Rates

8,022

9,036

7,302

7,209

7,512

7,015

N/A

Revenue Support Grant

-

-

-

-

-

-

N/A

New Homes Bonus (NHB)

2,768

1,008

478

-

-

-

N/A

Rural Services Grant

131

131

-

-

-

-

N/A

Section 31 Grant

2,400

-

-

-

-

-

N/A

Collection Fund Surplus

406

(2,030)

-

-

-

-

N/A

Total Resource

23,289

18,094

18,204

18,056

18,789

18,729

N/A

Net Budget Requirement: Before Adjustments

N/A

18,511

18,249

17,923

17,923

20,541

N/A

Budget Pressures *

N/A

234

163

24

23

23

N/A

Savings/Income Identified

N/A

(2,392)

(2,859)

(727)

(562)

(813)

N/A

Other Base Budget Changes **

N/A

1,896

2,370

2,278

1,582

1,056

N/A
Net Budget Requirement

18,511

18,249

17,923

19,498

20,541

20,807

N/A
Net Resource Position

(4,778)

155

(281)

1,442

1,752

2,078

5,146
Earmarked Resource Movements

1,096

N/A

N/A

N/A

N/A

N/A

N/A
Appropriation to General Reserve

(3,682)

N/A

N/A

N/A

N/A

N/A

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.

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