A balanced budget has been set by Tendring District Council (TDC) using reserves to fund a deficit.
The total general fund budget of TDC for 2023/24 is £14.142million, with an additional £827,000 capital programme.
TDC’s share of council tax will rise by 3% in April, an increase of £5.47 for an average (Band D) home.
Council agreed not to allocate £1.224million of New Homes Bonus to any budget, so that it remains available for the new administration in May to support corporate priorities.
Full council agreed the budget at its meeting last night (Tuesday, 14 February).
Carlo Guglielmi, TDC Cabinet Member for Corporate Finance and Governance, said the council had agreed a sensible budget.
“Due to our long-term careful fiscal policy, we are well-placed to handle the economic shocks which have come this year,” Councillor Guglielmi said.
“However, while we have been able to cover a small deficit next year using reserves and by re-focusing some existing budgets, it is important to note that the challenging financial situation does not just go away, and the administration will face some difficult decisions looking to the next few years ahead.”
He added: “It was pleasing that the budget was agreed by a majority of councillors, who all recognised that we must be prudent and do what is right for our residents.”
An additional £600,000 has been set aside to cover increased energy costs within the council budget.
Council also approved the Housing Revenue Account budget, which included committing £3.25million to redevelop the Honeycroft site, in Lawford, as a new sheltered housing scheme; and £800,000 for redevelopment of Spendells, in Walton-on-the-Naze, to provide temporary accommodation for those in need in the district.
