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Improved financial forecast reported by council


Updated figures for the next financial year show an improved budget position for Tendring District Council (TDC) in 2024/25.

The authority’s forecast deficit for 2024/25 has fallen by £960,000 to £1.7million, a Cabinet meeting heard last week (Friday, 26 January).

A report setting out the updated position included details of the provisional grant settlement from government to local authorities, and some changes to cost pressures and savings within the council.

It also includes a marginal reduction in the proposed council tax charge for next year.

Cost pressures faced by the authority are largely outside of the council’s control, including inflation, increased staff costs and reduced government funding – all of which are baked into future budgets.

Mark Stephenson, TDC Leader and Cabinet Member for Finance and Governance, welcomed the updated position – but cautioned there were still tough times ahead.

“It is good news that we have less of a deficit in 2024/25, but the fact remains that we face a deficit going forward,” Councillor Stephenson said.

“We are seeing ever greater demands and expectations on public services whilst balancing that with reduced funding.

“Work will continue to balance the budget, and the long-term financial plan – which has seen us save more than £10million since 2010/11 – and we will be able to do so this year. However, Our Vision’s key theme of financial sustainability means we will have to continue to work hard to ensure we remain on a strong footing in future years.

“We will not shy away from tough decisions – but will take these transparently – and this reduced deficit means we can build a solid foundation for making careful decisions and continue to deliver effective services while being mindful of taxpayer funds.

“If your household budget saw increased costs and reduced income you would have to make changes to what you spend your money on; the council is no different.”

The proposed TDC council tax charge on an average (Band D) home is £193.73 - £3.72 per week – an increase of £5.62 on this year.

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