Initial budget proposals for Tendring District Council (TDC) for 2024/25 have been agreed by Cabinet.
At its meeting today (Friday, 15 December) Cabinet considered the current financial position.
The report noted a number of cost pressures facing the authority, such as inflation impacts across areas including staffing and energy bills – but noted TDC is in a stable position.
Next year’s budget is currently based upon a 3% rise in the TDC element of council tax bills – putting an average Band D home on £193.75 per year, or just under £3.73 per week. This is an increase of £5.64 over the year.
The report also noted that details had not yet been received of the Government settlement for local authorities – how much grant TDC would receive from Whitehall – which could alter the shape of the budget.
Final budget proposals will be agreed by Cabinet in January, after going through scrutiny, before a final decision by full council in February.
Mark Stephenson, TDC Leader, said the budget would require prudent management.
“Thanks to our long-term approach to financial planning we are in a strong place as a local authority, but we cannot take our eye off the ball – just like our residents, we are all going through some tough economic times,” Councillor Stephenson said.
“A savings programme is being developed, and we are in the good position of already identifying more than £1.2million of savings for next year; that not only supports our long-term financial sustainability but also buys us time to make well-thought out decisions going forward rather than having to make knee-jerk cuts.
“It is worth highlighting that we still have a long way to go in terms of securing the further necessary savings required over the coming years.
“As per Our Vision, we want to be open and transparent about our finances and how decisions are made, and will continue to do so.”