Initial budget proposals for the coming year have been set out by Tendring District Council (TDC).
Cabinet today (Friday, 4 November) noted the financial position as part of the 2023-24 budget setting process, and that the authority was well-placed to meet the challenges brought about by the wider economic climate.
Included within the budget planning assumptions is a £5 rise to TDC’s share of council tax for a Band D home – a move already set out in the authority’s long-term financial plan.
Carlo Guglielmi, TDC Deputy Leader and Cabinet Member for Finance, said this long-term work had put the council in good stead for the coming years.
“Thanks to our careful financial management and making the right decisions over the past several years, we are in a strong position to move off from when looking at how we address the current challenges which are largely beyond our control,” Cllr Guglielmi said.
“This work, including our stated intention to raise council tax – which is not a knee-jerk reaction but part of our ten-year financial plan, of which we are now in year seven – means we have the time to re-work our longer-term approach to issues such as inflation, recessionary impacts, and the general rising cost of living.”
The report sets out the council’s plans to use some of its reserves, stand-by project budgets and savings to meet cost pressures the authority faces. This is in addition to the proposed average £5 rise in council tax, which would see the TDC share of a Band D bill rise to £187.64.
It also outlines the pressures facing the council, which total almost £3.4million this financial year and just over £4m the next. Some are expected to be one-off issues, such as fuel and energy bills, while others – such as wage costs, inflation charges on contracts and rising costs on things including insurance premiums – will need to be reflected each year.
“There remain a number of unknowns, such as the level of government grant – if any – we receive, but by taking a prudent approach and considering reasonable worst case scenarios this report shows we are ready for anything,” Cllr Guglielmi added.
“Reserves are there for a rainy day, and while we have worked hard to avoid dipping into those in the past, that rainy day is now here and we will be expected to use some of our reserves to tackle the challenges we face.
“Using our assets in this way means we can continue to focus on our priorities, but it does not mean we will be immune to having to make tough decisions in the coming months.”
Today’s report is the first step in the Budget setting process, with further proposals returning to Cabinet next month. After this the plans are scrutinised by the committee, before being debated and voted upon at full council in February.
