Budget 2023 - Delivering for our communities

Budget 2023 - Delivering for our communities

Each year the council must, by law, set a balanced budget.

That means the amount we expect to spend is no more than the amount of money we expect to receive.

Every year since 2010 setting a balanced budget has been harder and harder. To balance the budget we have had to make £347 million of savings.

In the coming year, and the years beyond, we will need to make more savings to balance our budget.

We must do this while maintaining the essential services that communities rely on.

How much do we need to save?

In the financial year 2023 to 2024 our services need to save £23.2 million.

We expect to have to make further savings of £20.2 million 2024 to 2025 and £19.5 million in 2025 to 2026.

That is a total of £62.9 million over the next three years.

Budget consultation

We have some tough decisions to make to balance the books. Our proposals are set out in the documents linked from this page.

We consulted on the proposals from November 2022 to January 2023. This consultation has now ended.

We will collect and analyse all feedback received alongside any other announcements that impact on our finances. A revised budget be discussed at Cabinet in February 2023 before being debated at City Council on 1 March 2023 when it is expected the plan and budget will be set.

Medium term financial plan

Our draft medium term financial plan sets out how we are proposing to tackle this ongoing challenge.

It contains detailed proposals for 2023 to 2024 and our proposed approach for future years.

Medium term financial planning documents

Delivering for our communities: Our medium-term financial plan for April 2023 to March 2026

Integrated impact assessments

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