Following consideration of the Medium Term Financial |Strategy, a financial strategy is agreed and specific proposals developed for consultation with all stakeholders and review in January before the Council agrees its revenue budget and capital programme in February of each year. This is a plan that states the intentions of the Council in financial terms for the next and subsequent financial years.
It provides a detailed summary of the income that the Council expects to receive during the year both from Central Government, local taxpayers and other sources, together with a breakdown of estimated expenditure.
The Budget Plan also includes a three-year capital programme, setting out what the Council plans to spend on the acquisition of fixed assets that will be used in delivering priorities beyond the current year or expenditure that adds to the value of a current asset. The estimated capital spend is summarised by Corporate Priority.