As a Council, we are legally required to set a balanced budget each year. That means the money we receive from the Scottish Government, Council Tax and other sources must meet the cost of delivering services and ongoing investment to protect and improve communities.
Although we continue to face acute financial pressure, the Council agreed a budget for 2022/23 on Wednesday, 2 March. The budget will not only meet a substantial funding gap of £29m during the next financial year but also see us spend £392m to provide services to communities and invest £22.3m in large-scale projects.
This is how we are going to achieve it this year
| Service |
2021/22 Budget
£'000 |
2022/23 Budget
£'000 |
| Children's Services |
225,727 |
224,699 |
| Social Work Adult Services |
3,372 |
3,531 |
| Place Services |
29,610 |
33,474 |
| Corporate & Housing Services |
31,775 |
36,777 |
| Trading Accounts |
(512) |
(512) |
| Sub-Total |
289,972 |
297,969 |
| Falkirk Community Trust |
13,755 |
- |
| Integration Joint Board |
75,976 |
83,328 |
| Joint Valuation Board |
1,424 |
1,458 |
| Capital Charges |
14,073 |
9,578 |
| Fiscal Flexibilities |
(6,998) |
- |
| Total Net Expenditure |
388,202 |
392,333 |
| Aggregate External Finance |
316,705 |
308,530 |
| General Fund Reserves Applied |
2,007 |
5,000 |
| COVID Reserves |
- |
5,300 |
| Trust Reserves |
- |
600 |
| Council Tax (see below) |
69,490 |
72,903 |
| Total Income |
388,202 |
392,333 |
| Council Tax |
2021/22 |
2022/23 |
| Estimated yield of £1 Council Tax |
£56,700 |
£57,197 |
| Council Tax (Band D) |
£1,225.58 |
£1,274.60 |
| Product |
£69,490,000 |
£72,903,000 |
Fees and charges
Some of our fees and charges will be increasing this year. Wherever possible we have aimed to keep these in line with inflation but some charges are higher because we are making them cover the full cost of providing the service. Some new charges will be introduced.
How is the budget split between our Services?
| Service | £000s |
|---|
| Childrens Services | 224,699 |
| Corporate and Housing Services | 36,777 |
| Place Services | 33,474 |
| Social Work Adult Services | 3,531 |
Savings options approved