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Council budget for 2024/25 to be considered by Cabinet
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Walsall Council’s budget for 2024/25 is to be discussed at a Cabinet meeting on Wednesday 7 February 2024, before full Council considers and approves the budget on Thursday 22 February 2024.
A balanced budget for 2024/25 will be presented to Cabinet including proposals for spending, efficiencies and council tax, subject to the outcome of the final settlement in February 2024.
“ Our track record of strong and robust financial management has achieved a balanced budget. This has been challenging and our financial planning has been extremely difficult due to a number of reasons including cost-of-living increases, rising demand on many of our services, particularly within adult social care and children’s services, and limited additional funding for councils by government.
The council has a statutory responsibility to set a balanced budget and it is a challenge that local authorities around the country are facing. We have tried to keep the council tax increase as low as possible whilst delivering a balanced budget and supporting new investment into key services and regeneration within the borough.
Inevitably, due to limited government funding, we have had to use some of our reserves to balance the budget. This cannot be sustained on an annual basis, and we need a fair, multi-year, government settlement in future years, which provides ongoing funding for adults and children’s social care. “
To read the papers for the Cabinet meeting, please visit the Council website
The council’s budget sets out a council tax increase of 4.99% in line with government referendum limits. This includes a general 2.99% core council tax increase plus a 2% precept for adult social care.
This means that in 2024/25, the average Band D Council Tax will see an increase of 27 pence a day, (excluding the fire and police precepts).
This budget details £63.5 million of revenue growth and investment going into council services in 2024/25. This includes:
- £41.3 million of demand, demographic and price changes within children’s and adult social care.
- £8.2 million of other services demand and cost pressures, including contractual inflation, regeneration and community initiatives, continuous improvement and quality care within adult social care, loss of income in some services, and investment in our IT infrastructure.
- £11.2 million of corporate provisions to cover the costs of pay awards, capital investment to fund regeneration projects within the borough, inflationary costs such as energy, fuel and other supplies and services costs.
- £2.8 million of investment linked to delivering transformation activity.
Also outlined in the budget is the draft capital programme. Significant capital investment of around £370 million is planned for the borough over the next four years to 2027/28.
Examples of investment over the next four years includes:
- £74 million - Schools funding.
- £37 million - Highways maintenance, lighting and parking.
- £8 million - Health and safety works.
- £29 million - Waste initiatives.
- £4 million - Enterprise Zones.
- £36 million - High Streets Fund.
- £36 million - Towns Deal.
- £26 million - Willenhall Masterplan/Levelling Up.
- £10 million - Council buildings maintenance.
- £13 million - Other regeneration schemes including the Land and Property Investment Fund, active public spaces, expansion of Park Hall and minor capital schemes.
- £19 million - Disabled facilities and supporting independence.
- £18 million - IT infrastructure.
- £60 million - Funding for development opportunities, subject to business case approval.
In order to deliver a balanced budget, the report to Cabinet also sets out savings of £20.10 million for 2024/25, to be delivered through changing and improving the council’s ways of working. These transformation methods include the use of technology and digitalisation to streamline processes and reduce costs, taking a more commercial approach to income generation, and managing future demand for services. A further £5.13 million of savings is expected to be carried forward from 2023/24 and to be delivered in full in 2024/25.
Notes to editors
The Corporate Budget Plan 2024/25, incorporating the Capital Strategy and the Treasury Management and Investment Strategy is now available to view on Walsall Council’s Committee Management and Information System (CMIS).
Budget setting timetable of key reporting dates:
- Receipt of the final settlement expected - February 2024.
- Recommendation of the final budget to Council by Cabinet on Wednesday 7 February 2024.
- Council set the final budget envelope (statutory determinations) and council tax and capital programme on Thursday 22 February 2024.
For more information about the council’s vision, values and key areas of focus, please read Walsall Council’s Plan 2022-25.
Ends
