Budget setting
Walsall Council is legally required to set a balanced budget.
Over the last 15 years we have made savings of around £285 million. This is up to and including 2024/25. The saving is made up of:
- £103m because of reduced direct government grant funding
- £182m for funding of identified cost pressures
We need to save around another £40m to be able to balance the budget in 2025/26.
How we set the budget
We review and refresh the budget annually. It follows detailed consideration of how to allocate available money to best serve the needs of our residents and communities.
The Council spends two thirds of its services budget (£66 million) every year on children’s services and adult social care. The average cost of looking after a child in care in Walsall has increased to just under £2,000 per week. The cost of adult social care placements and packages has risen this year to almost £120 million as people live longer, many with complex care needs.
Rising demand is putting additional pressure on the Council’s budget as plans are outlined for the next financial year.
On 16 October 2024, Cabinet received an update to budget plans for 2025/26 to 2028/29 (agenda item 9). The budget for 2025/26 is currently not balanced, with a further requirement to find c.£11m.
Cabinet will recommend the final 2025/26 budget and future year’s plans on 12 February 2025 for approval by Council on 26 February 2025.
