Medium Term Financial Strategy
The Medium Term Financial Strategy (MTFS) is our overarching Financial Strategy and Policy document. It shows how we will manage our money over the next few years (until 2028), based on our long-term goals as set out in the approved Business Plan.
Read our Medium Term Financial Strategy [PDF, 0.4MB]
|
- |
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 |
|
Budget pressures:
Further service pressures will increase the funding gap. We should handle these pressures within our current budget limits whenever possible.
Other base budget changes:
Other budget changes include the cost of borrowing money, income from investments, and increases in pay and prices.