The budget sets out how much money we can spend on achieving our objectives within each service.
Our budget has two elements:
- A revenue budget which includes spending on the day-to-day running of services, for example salaries, contracts for services and running expenses of buildings
- A capital programme which includes expenditure on items that will be used by Norfolk County Council for more than one year, for example land, buildings, vehicles and computers.
Here are some key facts:
- Our gross revenue budget for this year (2017-18) is £1.383bn
- Our grant from the government has been cut by £189m since 2010-11
- The County Council approved an increase in council tax of 4.8% for 2017-18, including 3% to provide extra funding for adult social care. Previously, the County Council froze its element of council tax for five years between 2011-12 and 2015-16. In 2016-17 council tax was increased by 3.99%, including 2% for adult social care
- Council tax accounts for 26% of Norfolk County Council funding and will raise £359m in 2017-18
- Between 2011-12 and 2017-18 we have budgeted to achieve £334m savings, with 67% (£224m) to be delivered from efficiency savings
- Over the same period the Council has had to absorb additional costs of £319m
The Local Government Finance Settlement for 2016-17 set out an offer from Government to local authorities to enable them to access four-year allocations of funding. This offer was intended to provide councils with greater certainty about their future funding and support them in strengthening financial management. In order to access this funding allocation, councils were asked to produce an Efficiency Plan covering the four-year period to 2019-20. Norfolk County Council’s Efficiency Plan 2016-20 was agreed by the County Council on 25 July 2016.