Budget process for 2024-25 begins
Initial budget proposals to deliver a balanced budget for 2024-25 will be discussed by our Cabinet soon, recognising the continued financial pressures and challenges ahead that we face.
Nationally many councils are facing immediate financial pressures within a challenging and uncertain economic environment, with continuing inflationary pressures combined with an increased demand for council services.
We face a £2.181m budget gap over the next four years.
We plan to use some of our financial reserves to address the short-term budget gap and mitigate areas of potential financial risk to the council, as well as a mix of spending reductions, additional income and continued careful financial management.
But we're also preparing to meet our longer-term challenges and address the budget gap through a comprehensive transformation programme. Work is already underway looking at how the council works and what opportunities exist to deliver services through collaboration and partnerships, as well as closely scrutinising how we use our assets, whilst continuing to deliver and invest in essential services for residents and businesses.
Sound financial management and the ability to deliver savings and efficiencies and generate more income over many years has left the council in a strong position. But we are not complacent as we continue to face significant challenges ahead and need to address the longer-term budget gap. With less funding available and more people needing our support, we are doing everything we can to provide value for money and making sure our council is fit for the future.
The budget proposals will be discussed by Cabinet on Monday 27 November and February next year, with the final budget being agreed at Full Council in February 2024.
Read more about our current budget position on our website: https://www.braintree.gov.uk/news/article/603/council-recognises-continued-financial-pressures-and-challenges-as-it-considers-budget which includes a link to the Cabinet report.