The Budget 2013/14
The council's finances are continuing to come under significant pressure. Our budget for 2013/14 is the third year in which we have had to find substantial savings.
How we are making savings
We undertook a number of service reviews during 2012 which identified savings in the region of £0.705m for 2013/14. We are also due to deliver £0.594m of savings through procurement and re-negotiation of contract specifications. Other key savings include reduction of non-essential spending such as IT equipment, subscriptions, and premises related expenditure, which amount to about £0.34m.
Reduction in Government Funding
Our Grant Settlement for 2013/14 from central government was £6.37 million. This is 7.3% lower on a like-for-like basis than our previous grant.
The government has introduced major changes to the structure of the local government finance system. Our 2013/14 grant includes the introduction of these changes - in particular, the business rates retention system which allows us to keep a proportion of the business rates income generated locally.
Investing in Welwyn Hatfield
We are still investing significant amounts of capital in our buildings and land, to continue improving Welwyn Hatfield as a place to live, work and shop. These include some major investments:
The 2013/14 general fund budget and capital investment programme was approved by the Full Council on 27 February 2013.
This page was last updated on 29/04/2013