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]

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-	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.

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