Skip navigation

Gloucestershire Business News

Gloucestershire local authority planning budget ahead of likely cuts in central government funding

Cotswold District Council are working on ways to grow income and manage costs ahead of expected reductions in funding from central government.

Deputy leader and cabinet member for finance Councillor Mike Evemy presented a motion to full council last month, outlining his work to produce a budget for 2020/21.

Cllr Evemy said:"The Council's revenue budget -for day-to-day spending - is highly dependent on the scheme for retention of business rates and its New Homes Bonus grant.

"We're expecting a large reduction in income from them when the system for funding local government changes in April 2021."

In response, the Council is focusing on building its financial stability and resilience. #

It's planning to do this through prudent financial management, growing its income through making better use of capital assets and reviewing the use of revenue reserves, as well as through the effective management of its cost base.

All of this work is to support its policy goals outlined in its new Corporate Strategy, also agreed last month.

Cllr Evemy, added: "We need to rebuild our council's finances so we can invest in our District, particularly with the real possibility of budgets shrinking for district councils across the UK. We will certainly have some tough decisions ahead of us in the future."

Just eight per cent of the revenue from council tax paid by its residents goes to Cotswold District Council compared with the average for Gloucestershire districts of 10 per cent and the national district council average of 11 per cent.

The Council's Cabinet will discuss the proposed budget for 2020/21 in December.

The Council will then consult with residents, business and community organisations for their views on the budget before a final decision is made in February.

Related Articles

Versarien's revenues halve and losses rise Image

Versarien's revenues halve and losses rise

Forest of Dean-based advanced engineering group Versarien saw its revenues halve last year.

Gloucestershire company launches same-day service Image

Gloucestershire company launches same-day service

Gloucester-based Freemans Event Partners has launched a brand-new around-the-clock foodservice logistics offer.

Gloucester business expands at Elmbridge Court Image

Gloucester business expands at Elmbridge Court

Just three offices are now available for rent at Elmbridge Court, following the latest letting.

Cirencester town centre to deliver improved parking Image

Cirencester town centre to deliver improved parking

Better parking and traffic control improvements for Cirencester residents and businesses.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.