Our 2017/18 budget
Shropshire Council's 2017-18 budget was considered at the council meeting on 23 February 2017. The gross budget for 2017-18 is £563m, with a net budget requirement of £206m.
2017/18 is the first of two transition years in our medium-term financial plan, and attempts to deal with the current uncertainty in local government finances across the country. These two years of transition, 2017/18 and 2018/19, are necessary because by 2019/20 central government plans to have introduced an entirely new funding methodology for local government. This new methodology, termed fair funding, is built around the concept that local councils will retain all of the benefits of locally generated sources of finance (predominantly council tax and business rates) and there will a removal of all central government support.
As you'll see from the capital budget section of this book, we're investing over £66million into local projects in 2017/18. The capital programme remains priority led, reflecting the need for growth in the Shropshire economy, investment in infrastructure and roads, and significant funding to deliver superfast broadband across much of Shropshire in the coming years. We're also planning to deliver significant investment in our IT systems in order to streamline and improve the efficiency and productivity of our back office services and reduce ongoing costs.
In this last year we've completed the Much Wenlock Flood and Water Management system, invested over £1million in affordable housing schemes across the county and completed two assisted-living bungalows within Adult Social Care. We've also continued to invest in the delivery of superfast broadband, a new build programme within the housing revenue account, road and infrastructure improvements and school building developments.
The bottom line is, of course, that we have to balance our books. This is becoming increasingly difficult as each year progresses, and in 2017/18 we'll continue to see the use of significant one-off resources to deliver a balanced budget. This gives us more time to review our options and formulate sustainable proposals, but leaves us with some stark choices over the way we deliver services into the future.
The budget book for 2017/18 sets out our detailed revenue and capital budgets. It includes the following sections:
- Revenue summary
- Portfolio holder summary
- Subjective summary
- MTFP summary
- Detailed budgets by service area
- Appendices supporting the revenue budget
- Housing revenue account
- Capital programme
Please note that this budget book was produced prior to the budget statement made by the Chancellor of the Exchequer on 8 March 2017.