|
Medium Term Financial Plan |
2022/23 |
2023/24 |
2024/25 |
2025/26 |
|
Approved Budget |
Estimate |
Estimate |
Estimate |
|
|
£million |
£million |
£million |
£million |
|
|
TAXATION & GOVERNMENT FUNDING |
|
(453.231) |
(501.446) |
(522.028) |
|
Council Tax |
(325.290) |
(12.063) |
(9.239) |
(12.831) |
|
Adult Social Care Precept |
(7.840) |
(6.635) |
(3.488) |
|
|
Business Rates (Inclusive of BR Pooling in 2022/23) |
(86.749) |
(8.341) |
(4.890) |
(0.122) |
|
Social Care Grant |
(23.674) |
(14.883) |
(5.509) |
19.436 |
|
ASC Market Sustainability and Improvement Grant |
|
(6.055) |
(3.017) |
9.072 |
|
Services Grant |
(5.175) |
2.259 |
2.916 |
|
|
Funding reform - net impact |
|
|
|
(2.056) |
|
Revenue Support Grant |
(3.687) |
(0.389) |
(0.279) |
4.355 |
|
Local Council Tax Support Grant 2021/22 |
|
(2.114) |
2.114 |
|
|
Local Tax Income Guarantee for 2020/21 |
|
(0.459) |
0.459 |
|
|
New Homes Bonus |
(0.816) |
0.465 |
0.351 |
|
|
TOTAL TAXATION & GOVERNMENT FUNDING |
(453.231) |
(501.446) |
(522.028) |
(504.174) |
|
|
|
|
|
|
|
SERVICE PLAN |
|
|
|
|
|
Service Expenditure |
392.195 |
396.461 |
457.488 |
472.888 |
|
Inflation |
|
|
|
|
|
Contractual inflation (contract specific) |
1.747 |
5.140 |
3.847 |
0.023 |
|
Normal inflation for contracts |
13.664 |
30.405 |
10.401 |
10.916 |
|
Allocation of 2021/22 pay award to service departments |
|
2.428 |
|
|
|
Allocation of 2022/23 pay award to service departments |
|
8.544 |
|
|
|
Adult Social Care |
|
|
|
|
|
Improved Better Care Fund |
(21.776) |
|
|
|
|
Better Care Fund - Discharge Funding |
|
(3.053) |
(2.035) |
5.088 |
|
Better Care Fund - Discharge Funding New Burdens |
|
3.053 |
2.035 |
(5.088) |
|
Growth & Demography |
|
3.413 |
3.917 |
|
|
Future demand modelling net of attrition (Covid-related) |
|
1.133 |
(0.365) |
|
|
Market Sustainability and Fair Cost of Care (MSFCC) Fund |
(1.745) |
1.745 |
|
|
|
MSFCC Fund Pressures |
1.745 |
(1.745) |
|
|
|
MFSCC - Support for New Burdens (from precept) |
3.149 |
(3.149) |
|
|
|
Independent Living Fund rolled into Social Care Grant |
|
0.956 |
|
|
|
Voluntary Sector, Community Hubs, Shielded Group |
(0.440) |
0.440 |
|
|
|
Children's Services |
|
|
|
|
|
Dedicated Schools Grant |
0.422 |
|
|
|
|
Growth & Demography (G&D) |
4.091 |
1.760 |
0.973 |
0.808 |
|
Disabled Access Regulations for Buses/Coaches |
0.098 |
|
|
|
|
Looked After Children Placements Covid-related |
1.393 |
(0.872) |
(0.347) |
(1.758) |
|
Covid Grant Funding for Looked After Children Placements |
(1.393) |
0.077 |
(0.442) |
1.758 |
|
Pressures approved via protocol |
(0.124) |
(0.124) |
0.124 |
|
|
Financial Sustainability ex. G&D and Covid LAC |
|
|
|
|
|
School Attendance (new duty) |
|
1.500 |
|
|
|
Home to School Transport (incl. approved pressures) |
0.523 |
4.427 |
|
|
|
Family Safeguarding (Appendix 10) |
|
0.316 |
(0.194) |
(2.075) |
|
Net Operational Pressures incl. Careleavers and Locality |
|
2.285 |
(0.204) |
0.475 |
|
SEND High Needs Block Additional funding |
(2.138) |
|
|
|
|
Social Worker Pay |
1.493 |
|
|
|
|
Communities, Environment & Transport |
|
|
|
|
|
Waste PFI Efficiencies |
(0.100) |
(0.100) |
|
|
|
Waste Housing Growth |
0.150 |
0.190 |
0.267 |
0.305 |
|
Pressures approved via protocol |
0.265 |
0.815 |
(0.800) |
|
|
Support to Economic Development |
0.025 |
(0.055) |
|
|
|
Highways Contract Mobilisation |
|
2.313 |
(2.313) |
|
|
Highways Contract Mobilisation – Reserve Contribution |
|
(0.817) |
0.817 |
|
|
Business Services |
|
|
|
|
|
Pressures approved via protocol |
0.411 |
0.551 |
(0.078) |
|
|
Modernising Back Office Systems (MBOS) |
|
|
0.386 |
|
|
Governance Services |
|
|
|
|
|
Pressures approved via protocol |
|
0.425 |
0.104 |
0.148 |
|
Savings |
|
|
|
|
|
Temporary mitigations to savings |
(0.388) |
(0.100) |
|
|
|
Removal of CSD Safeguarding Savings |
0.854 |
|
|
|
|
Removal of CET Trading Standards Saving |
0.100 |
0.100 |
|
|
|
Removal of Early Help Saving |
0.893 |
|
|
|
|
Savings Slippage |
1.347 |
(1.347) |
|
|
|
Review of BSD Savings Options |
|
0.373 |
(0.693) |
|
|
NET SERVICE EXPENDITURE |
396.461 |
457.488 |
472.888 |
483.488 |
|
Corporate Expenditure |
|
56.770 |
43.958 |
51.336 |
|
Treasury Management |
19.930 |
(6.000) |
1.500 |
4.400 |
|
New Homes Bonus to Capital Programme |
0.816 |
(0.816) |
|
|
|
General Contingency |
4.330 |
0.550 |
0.190 |
(0.230) |
|
Contingency for Potential Pay, Recruitment and Retention |
5.691 |
5.592 |
5.673 |
5.840 |
|
National Insurance 1.25% Increase |
1.514 |
(1.514) |
||
|
Contract inflation and collection fund risk |
4.755 |
(1.783) |
0.003 |
|
|
Provision for Energy Price Increase |
|
1.300 |
|
|
|
Pensions |
8.023 |
|
|
|
|
Apprenticeship Levy |
0.600 |
|
|
|
|
Levies & Grants |
0.952 |
0.018 |
0.012 |
0.012 |
|
One off investment opportunities (held in reserve) |
5.175 |
(5.175) |
|
|
|
Future Risks: CSD/SEND/ASC and Funding Reform/COVID legacy (held in reserve) |
4.984 |
(4.984) |
|
|
|
TOTAL CORPORATE EXPENDITURE |
56.770 |
43.958 |
51.336 |
61.358 |
|
|
|
|
|
|
|
TOTAL PLANNED EXPENDITURE |
453.231 |
501.446 |
524.224 |
544.846 |
|
|
|
|
|
|
|
CUMULATIVE DEFICIT/(SURPLUS) |
0.000 |
0.000 |
2.196 |
40.672 |
|
ANNUAL DEFICIT/(SURPLUS) |
0.000 |
0.000 |
2.196 |
38.476 |