Annual Budget

The Council Budget

The annual Revenue and Capital Budget sets out the Council’s spending plans for the financial year and shows how these are to be funded, including the contribution required from the council tax payers of the Parish, via the Council Precept.

The Town Council Precept is basically the amount that the Council has estimated that it will require to be raised from Council Tax to fund the many services that it provides to the local community, and is the amount on which the Town Council proportion of the Council Tax bill is calculated.

The Council must set a Budget every year and the Budget is set in advance of the following year. The Council’s financial year runs from 1st April to 31st March.

The Budget is an estimate of the resources that the Council will require to meet the running costs of all of the services that it provides, to deliver on its strategic aims and targets, and to meet the needs and priorities of the local community.

The Council needs to set a Revenue Budget and a Capital Budget each year.

The Revenue Budget funds the day to day running costs of all of the Council’s services such as salaries and wages, gas and electricity, fuel and general supplies and services. The net cost after deducting any income receivable to each service from fees and charges and grants is met from the Town Council proportion of the Council Tax, which is payable by all households in the Parish.

The Capital Programme Budget funds major one-off investment in Council and community assets such as buildings, vehicles, parks and play areas and is usually funded from the Council’s Balances and Reserves and any external funding that may be available.

The Council has invested more than £2 million in community assets in recent years including substantial investment in play areas and multi use games areas, a skate park, BMX track and scoot track, improvements to community buildings and various environmental initiatives.

2023/24 Draft Budget

The Town Council is in the process of developing its Revenue and Capital Budget for the 2023/24 financial year.

Clearly the budget that we set is important to our local community, both in terms of how our spending plans may impact on the provision of services and investment in assets for the benefit of the town, and in terms of the level of Council Tax that we need to raise from local taxpayers in order to fund these plans.

In overall terms, the Council is proposing a 2023/24 Budget that protects and maintains all of our current services next year.

The Council is also maintaining some surplus resources in the budget which will allow it to replenish its balances and reserves. This will help ensure that we can continue to make capital investment in community assets such as our cemeteries, allotments, parks and play areas, for the benefit of the community, in the coming years.

In order to do so, the Council is proposing that it raises the Town Council proportion of the Council Tax bill around £12.50 next year.

This increase is well below the current rate of inflation, and to achieve this, savings have been made across all budgets to limit the increase in the Town Council Tax element of the Council Tax bill to our local residents.

This would increase the Town Council element of the Council Tax bill by £12.74 per year for the vast majority of local taxpayers i.e. those living in Band A properties.

Should you wish to have a more in depth look at the Council’s 2022/23 Draft Revenue and Capital Budgets, a link to the reports to the various committees in October and December the links to the various reports are set out below:-

Draft 2023/24 Revenue and Capital Budget Update

Draft Overall 2023/24 Revenue and Capital Budget Report

Appendix 1 – Summary of the Overall 2023/24 Draft Revenue and Capital Budgets

Appendix 3 – Draft 2023/24 Capital Programme Budgets

Appendix 4 – Projection of Council Balances and Reserves

Draft 2023/24 Policy and Resources Committee Budgets Report

Appendix 1 and 3 – Draft 2023/24 Policy and Resources Committee Budgets

Draft 2023/24 Recreation Committee Budgets Report

Appendix 1 and 3 – Draft Recreation Committee Budgets

Draft 2023/24 Environment Committee Budgets Report

Appendix 1 and 3 – Draft 2023/24 Environment Committee Budgets

2023/24 Budget Framework and Timetable Report

2022/23 Budget (This Year’s Budget)

The Town Council set its Revenue and Capital Budget for the 2022/23 financial year in January 2022.

The 2022/23 Revenue and Capital Budget Document can be accessed via the links below:-

The Town Council is very aware that 2021 has been a difficult year for the community of Great Aycliffe with the ongoing Coronavirus pandemic continuing to affect the lives of us all.

The lockdown periods, social distancing measures and other restrictions have meant the Town Council has not been able to provide some of its services to the usual standards this year and has unfortunately led to the cancellation of a number of much valued community events including the senior citizens’ trips, fun in the parks and fireworks display.

We have prepared our budget for next year on the basis of a 1.99% increase in the Town Council proportion of the Council Tax bill.

The 2022/23 Revenue Budget will enable all current Council services, facilities and events to be provided to the usual high standards next year, whilst allowing the Council will continue to make investment in community assets via our Capital Programme Budget, funded from Council reserves.

The 2022/23 Revenue Budget was approved on the basis of a return to business as usual next year, and maintaining all services, facilities and events.

The Band D Council Tax for the Town Council would therefore be £255 per year next year, while the Band A Council Tax at which 6 out of 10 households in the Parish are valued would be £170 per year.

The 1.99% increase finds the balance between delivering value for money to local taxpayers after what has been another difficult year, whilst ensuring that all services can continue to be provided to the standards expected by residents next year, put in place a firm foundation and some surplus resources to meet the challenges that lie further ahead, and allow the Council to replenish its balances and reserves.

The freeze in the Town Council Tax is made possible by the healthy state of the Council’s finances at the present time, and is a positive endorsement of the prudent management and planning of the Council’s finances over a long period of time.

The Council approved a 2021/22 Capital Programme Budget of £280,600, with the budget being prepared in line with the principle of controlling capital investment and focussing on essential investment linked to the delivery of the Asset Management Plan.

Should you wish to have a more in depth look at the Council’s 2022/23 Revenue and Capital Budget, a link to the report to the Council’s Policy and Resources Committee in relation to the setting of the 2021/22 Revenue and Capital Budget is set out below:-

Approval of the Final 2022/23 Revenue and Capital Budget Report

Appendices 1 to 5 – 2022/23 Final Revenue and Capital Budget model

The detailed background behind the development of Council’s 2021/22 Revenue and Capital Budget was reported to the Council’s various committees in November and December and links to the various reports are set out below:-

Draft Overall 2022/23 Revenue and Capital Budget Report

Appendix 1 – Summary of the Overall 2022-23 Draft Revenue and Capital Budget

Appendix 2 – Draft 2022-23 Capital Programme Budgets

Appendix 3 – Projection of Council Balances and Reserves

Draft 2022/23 Policy and Resources Committee Budget Report

Appendix 1 and 2 – Draft 2022/23 Policy & Resources Committee Budgets

Draft 2022/23 Recreation Committee Budgets Report

Appendix 1 and 2 – Draft Recreation Committee Budgets

Draft 2022/23 Environment Committee Budgets Report

Appendix 1 and 2 – Draft 2022/23 Environment Committee Budgets

Draft 2022/23 Capital Programme Budget Report

Appendix 1 – Draft Capital Programme Budget 2022-23

2022-23 Budget Framework and Timetable Report

2021/22 Revenue and Capital Budget (Last Year’s Budget)

The 2021/22 Revenue and Capital Budget Documents can be accessed via the links below:-

Should you wish to have a more in depth look at the Council’s 2020/21 Revenue and Capital Budget, the 2020/21 Precept and Budget Setting Reports as reported to the Council and Policy and Resources Committee in January 2020 can be viewed via the following links:-

Setting of the 2021/22 Precept – Report to Council

Approval of the Final 2021/22 Revenue and Capital Budget Report

Appendices 1, 3 and 4 Final 2021/22 Revenue and Capital Budgets

Appendix 2 – Analysis of the Changes from the Draft Budget to the Final Budget

Appendix 5 – 2021/22 Budget Survey Results

The Council’s draft 2021/22 budget proposals were considered by the Council’s various Committees and Sub-Committees earlier in the year in October.

These reports and the figures behind them provide the detail behind the development and setting of the Council’s 2021/22 Revenue and Capital Budgets and can be viewed via the following links:-

Draft Overall 2021/22 Revenue and Capital Budget Report

Appendix 1, 3 and 4 – Overall Draft Revenue and Capital Budget 2021/22

Appendix 2 – Letter from Durham County Council regarding the Final Tax Base and Council Tax Support Grant