Overview of 2022/23 Budget Engagement and Proposals
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The Budget Context
2020/21 Net Budget
£118.2m
Budget rebasing
£15.3m
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Budget funding requirement
£5m
2021/22 Net Budget
£130m
The Budget Context
2020/21 Net Budget
£118.2m
Budget rebasing
£15.3m
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Budget funding requirement
£5m
2021/22 Net Budget
£130m
Covid impact
Available funding = Council tax, Business rates and grants
To balance
the books
Inflation & new demand
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Core Spending Power
The annual funding from Council Tax
and Government grant income
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Core Spending Power
The annual funding from Council Tax
and Government grant income
Resident population:
193,282 x £402 =
£77,699,364
difference in funding
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Core Spending Power
The annual funding from Council Tax
and Government grant income
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2021/22 Budget Performance
Quarter 2 Forecast
On Budget
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2022/23 Budget Proposals
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2021/22 Net Budget
£130m
The Headlines
2022/23 Proposed Net Budget
£134.3m
Budget funding requirement
£16.6m
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Financing changes
£2.6m
The Funding Requirement
Total
£16.6m
Running costs
£7.3m
Planning for risks
£2m
New funding requirement
£4.7m
Financing changes
£2.6m
The Funding Requirement
Total
£16.6m
Running costs
£7.3m
Planning for risks
£2m
New funding requirement
£4.7m
Pay & Contract inflation
Service demand
Contingency for known risk
Grant reductions
Interest costs
New investment
Service pressures
Funding is being allocated to:
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Funding care placements
•
Funding contract costs
•
Investment in Education
Climate Emergency &
Neighbourhood Services
£1.2m
•
Investment in recycling
•
Investment in salaries
•
Resourcing to meet demand
Funding is being allocated to:
Digital resilience and Hybrid working
Improving customer services
Managing the climate emergency
Addressing gaps in the workforce
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Savings and Income
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Savings and Income:
Realign our borrowing requirement
(
£2m)
Vacancy management
(
£1.3m)
Commercial Estate Income
(
£1m)
Investment in Foster Care
(
£0.49m)
•
Increase in Government funding into base budget for 2022/23
•
2022/23 will reset the budget taking account of new funding requirements
•
Council funding and the budget requirement is more aligned in future years
The five year forward view
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The 2022/23 Budget Engagement outlines the financial context, funding requirements, and measures to balance the budget in the face of Covid impacts, inflation, and new demands. Core Spending Power allocation, council tax, and government grant incomes are detailed, along with budget performance forecasts from previous years. The 2022/23 Budget Proposals emphasize living within means and ensuring the robustness of estimates and reserve adequacy to set the Council's budget.
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Presentation Transcript
The Budget Context 118.2m 15.3m 2020/21 Net Budget Budget rebasing Budget funding requirement 5m ( ( 8.5m) Savings and income plans 130m 2021/22 Net Budget
The Budget Context 118.2m 15.3m 2020/21 Net Budget Budget rebasing Budget funding requirement 5m Covid impact Covid impact Inflation & new demand Inflation & new demand ( ( 8.5m) Savings and income plans To balance To balance the books the books 130m 2021/22 Net Budget Available funding = Council tax, Business rates and grants Available funding = Council tax, Business rates and grants
Core Spending Power The annual funding from Council Tax and Government grant income Camden 1,174 21/22 Core Spending Power per head 1,400 B&NES 772 1,200 1,000 Difference 402 Per resident 800 600 400 200 0
Core Spending Power The annual funding from Council Tax and Government grant income Resident population: Resident population: 193,282 x 402 = 193,282 x 402 = 77,699,364 77,699,364 difference in funding difference in funding Camden 1,174 21/22 Core Spending Power per head 1,400 B&NES 772 1,200 1,000 Difference 402 Per resident 800 600 400 200 0
Core Spending Power The annual funding from Council Tax and Government grant income 21/22 Core Spending Power per head Camden 1,174 South Gloucestershire 805 North Somerset Wiltshire 832 1,400 1,200 Bristol 905 Swindon 792 1,000 B&NES 772 800 600 400 200 0
2021/22 Budget Performance Quarter 2 Forecast On Budget Parking income up 3m Childrens Social Care pressure ( 2m) 2m) Adult Social Care under budget 1.4m Roman Baths income down ( 1.5m) 1.5m)
2022/23 Budget Proposals To set a Council s budget we need to demonstrate how we will live within our means and provide assurance upon the robustness of estimates and the adequacy of reserves.
The Headlines 130m 2021/22 Net Budget 16.6m Budget funding requirement ( ( 12.3m) Savings and income plans 134.3m 2022/23 Proposed Net Budget
The Funding Requirement 2.6m 7.3m 2m Financing changes Running costs Planning for risks New funding requirement 4.7m 16.6m Total
The Funding Requirement 2.6m 7.3m 2m Financing changes Grant reductions Grant reductions Interest costs Interest costs Running costs Pay & Contract inflation Pay & Contract inflation Service demand Service demand Planning for risks New funding requirement 4.7m Contingency for known risk Contingency for known risk New investment New investment Service pressures Service pressures 16.6m Total
Funding is being allocated to: Childrens & Adults Services 4.3m Funding care placements Funding contract costs Investment in Education 4.3m Climate Emergency & Neighbourhood Services Investment in recycling Investment in salaries Resourcing to meet demand 1.2m
Funding is being allocated to: Digital resilience and Hybrid working Managing the climate emergency Improving customer services Addressing gaps in the workforce
Savings and Income ( ( 9.4m) ( ( 2.9m) Savings plans Income generation ( ( 12.3m) Total
Savings and Income: Realign our borrowing requirement ( 2m) Commercial Estate Income ( 1m) ( 1.3m) Vacancy management ( 0.49m) Investment in Foster Care
The five year forward view Increase in Government funding into base budget for 2022/23 2022/23 will reset the budget taking account of new funding requirements Council funding and the budget requirement is more aligned in future years Budget Growth vs Funding 20.00 15.00 10.00 5.00 0.00 2022/23 2023/24 2024/25 2025/26 2026/27 (5.00) Growth Requirement Funding Increase
Budget setting timetable: Policy, Development and Scrutiny Panels: Jan 10th Corporate Jan 17th Climate Emergency and Sustainability Jan 19th Children, Adults, Health and Wellbeing Jan 31st Corporate Feb 10th Cabinet Feb 15th Full Council
