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Our Medium Term Financial Strategy

The Medium Term Financial Strategy (MTFS) is our overarching Financial Strategy and Policy document. It shows how we will manage our money over the next few years (until 2028), based on our long-term goals as set out in the approved Business Plan. 

Read our Medium Term Financial Strategy [PDF, 0.4MB]

You can also read our Investment Strategy. 

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2023/2024

2024/2025

2025/2026

2026/2027

2027/2028

 

-

£’000

£’000

£’000

£’000

£’000

N/A

Council Tax

11,155

11,824

12,513

13,203

13,811

N/A

Retained Business Rates

12,107

12,107

5,691

6,241

6,525

N/A

Revenue Support Grant

228

245

921

899

879

N/A

New Homes Bonus (NHB)

1,508

1,000

-

-

-

N/A

Rural Services Grant

260

260

137

137

137

N/A

Section 31 Grant

5,818

-

-

-

-

N/A

Collection Fund Surplus

770

-

-

-

-

N/A

Total Resource

32,918

25,938

19,278

20,496

21,368

N/A

Net Budget Requirement: Before Adjustments

24,316

31,624

22,843

22,659

23,228

N/A

Budget Pressures *

347

99

22

-

-

N/A

Savings/Income Identified

(1,054)

(1,054)

-

-

-

N/A

Other Base Budget Changes **

6,710

  (7,023)

44

419

260

N/A

Net Budget Requirement

31,624

22,843

22,659

23,228

23,588

N/A

Net Resource Position

1,294

3,095

(3,381)

(2,732)

(2,220)

N/A

Budget pressures: 
Further service pressures will increase the funding gap. We should handle these pressures within our current budget limits whenever possible.  

Other base budget changes:
These can include the cost of borrowing, investment income and pay and price inflation.