Revenue expenditure involves spending on day-to-day running costs. This is funded from a number of different sources, the most significant being general government grant (known as revenue support grant), business rates and council tax. The remainder comes from charges for services, such as council homes rents and entrance fees. There is also a small contribution from our reserves.
In preparation for the 2013/14 budget, a number of public consultations were carried out, including the "You Choose" campaign - an online budget simulator. These provide a useful barometer of public opinion as to council spending priorities, and are important in not just informing the 2013/14 budget, but also in helping the council shape its future budgets.
The annual financial plan is our approved budget for revenue spend for the year. It also tells you about our services and explains the basics of local government finance.
Don’t want to see the detail! Our summary budget shows you just the headline figures.
Capital expenditure relates to spending of a long-term nature where assets are purchased, constructed or improved by the council. In 2013/14, capital projects are paid for by grants and contributions (35%) and revenue contributions to capital including the Housing Revenue Account (HRA) (23%). Projects are also funded by borrowing (42%), which is undertaken at agreed rates of interest and repaid from revenue budgets.
The capital programme is our approved budget for capital spend for 2012-2016.