Annual Budget

The Council Budget

The annual Revenue and Capital Budget sets out the Council’s spending plans for the financial year and shows how these are to be funded, including the contribution required from the council tax payers of the Parish, via the Council Precept.

The Town Council Precept is basically the amount that the Council has estimated that it will require to be raised from Council Tax to fund the many services that it provides to the local community, and is the amount on which the Town Council proportion of the Council Tax bill is calculated.

The Council must set a Budget every year and the Budget is set in advance of the following year. The Council’s financial year runs from 1st April to 31st March.

The Budget is an estimate of the resources that the Council will require to meet the running costs of all of the services that it provides, to deliver on its strategic aims and targets, and to meet the needs and priorities of the local community.

The Council needs to set a Revenue Budget and a Capital Budget each year.

The Revenue Budget funds the day to day running costs of all of the Council’s services such as salaries and wages, gas and electricity, fuel and general supplies and services. The net cost after deducting any income receivable to each service from fees and charges and grants is met from the Town Council proportion of the Council Tax, which is payable by all households in the Parish.

The Capital Programme Budget funds major one-off investment in Council and community assets such as buildings, vehicles, parks and play areas and is usually funded from the Council’s Balances and Reserves and any external funding that may be available.

The Council has invested more than £2 million in community assets in recent years including substantial investment in play areas and multi use games areas, a skate park, BMX track and scoot track, improvements to community buildings and various environmental initiatives.

2025/26 Budget Setting

The Town Council is in the process of developing its Revenue and Capital Budget for the 2025/26 financial year.

Clearly the budget that we set is important to our local community, both in terms of how our spending plans may impact on the provision of services and investment in assets for the benefit of the town, and in terms of the level of Council Tax that we need to raise from local taxpayers in order to fund these plans.

In overall terms, the Council is proposing a 2025/26 Revenue Budget that protects and maintains all of our current services, facilities, and events next year.

The Council is also aiming to maintain some surplus resources in the budget which will allow it to replenish its balances and reserves. This will help ensure that we can continue to make capital investment in valued community assets such as cemeteries, allotments, parks and play areas, for the benefit of the community, in the coming years.

In order to do so, the Council is proposing that it raises the core Town Council proportion of the Council Tax bill by around £4.07 (2.13%) next year for the vast majority of local taxpayers i.e. those living in Band A properties.

However, as a direct consequence of the cut in Local Council Tax Reduction Scheme Grant funding being imposed by Durham County Council, the proposed increase will regrettably need to rise to around £7.15 (3.75%).

The core Council Tax increase being proposed is slightly above the current rate of inflation and as a result of the Council’s ongoing efforts to cut costs, increase income and deliver value for money services.

We hope you will agree that a monthly increase of £0.34 in the core Town Council element of the Council Tax bill, increasing to £0.60 as a result in Durham County Council grant cut, is a small price to pay to ensure that all the existing services provided by the Town Council can be protected for another year.

Please note that the Revenue Budget is currently under review following the recent Government Budget which will see a substantial increase in the Council’s employers’ national insurance costs and the Council may need to consider implementing a higher Council Tax increase to offset these additional costs.

Should you wish to have a more in depth look at the Council’s 2025/26 Draft Revenue and Capital Budget proposals, links to the reports to the various committees of the Council in October and November are set out below:-

Overall Draft Revenue and Capital Budget 2025-26

Appendix 1 – Summary of the Overall 2025-26 Draft Revenue and Capital Budget

Appendix 3 – Draft 2025-26 Capital Programme Budgets

Appendix 4 – Projection of Council Balances and Reserves

Draft 2025-26 Policy and Resources Committee Budgets Report

Appendix 1 and 2 – Draft Policy and Resources Committee Budgets 2025-26

Draft Recreation Committee Budgets Report 2025-26

Appendix 1 and 2 – Draft Recreation Committee Budgets 2025-26

Draft Environment Budgets Report 2025-26

Appendix 1 and 2 – Draft Environment Committee Budgets 2025-26

2025-26 Budget Framework and Timetable Report

2024/25 Budget (This Year’s Budget)

The Town Council set its Revenue and Capital Budget for the 2024/25 financial year in January 2024.

The Council set a 2024/25 Revenue Budget that protects and maintains all services, facilities and events to current standards this year.

The Council is also maintaining some surplus resources within the budget which will allow it to continue to replenish its balances and reserves.

This will help ensure that we can continue to make capital investment in community assets such as our cemeteries, allotments, parks and play areas, for the benefit of the community, in the coming years.

The Council has agreed a 2024/25 Capital Programme Budget of £156,350, with the budget focused on essential investment linked to the delivery of the Council’s Asset Management Plan.

Planned investment includes building maintenance works, replacement works machinery including electrical alternatives, essential computer replacements, play area surfacing replacement, footpath repairs and bus shelter repairs.

In approving the 2024/25 Revenue and Capital Budget, the Council agreed to raise the Town Council proportion of the Council Tax bill by £8.01 per year for the vast majority of local taxpayers i.e. those living in Band A properties.

The Council appreciates that any increase in the monthly outgoings of our local taxpayers will not be popular.

However, we hope taxpayers will agree that a monthly increase of 67p is a small price to pay to ensure that all the services provided by the Town Council can be protected for another year, and that reserves can continue to be replenished.

Should you wish to have a more in depth look at the Council’s 2024/25 Revenue and Capital Budget, a link to the report to the Council’s Policy and Resources Committee in relation to the setting of the 2024/25 Revenue and Capital Budget is set out below:-

Approval of the Final 2024-25 Revenue and Capital Budget Report

Appendices 1 to 5 – 2024-25 Final Revenue and Capital Budget model

The detailed background behind the development of Council’s 2024/25 Revenue and Capital Budget was reported to the Council’s various committees in October and November and links to the various reports are set out below:-

Appendix 1 – Draft 2024-25 Capital Programme Budget

Appendix 1 – Summary of the Overall 2024-25 Draft Revenue and Capital Budget

Appendix 3 – Projection of Council Balances and Reserves

Draft 2024-25 Policy and Resources Committee Budget Report

Appendix 1 and 2 – Draft 2024-25 Policy and Resources Committee Budgets

Draft 2024-25 Recreation Committee Budgets Report

Appendix 1 and 2 – Draft 2024-25 Recreation Committee Budgets

Draft 2024-25 Environment Committee Budgets Report

Appendix 1 and 2 – Draft 2024-25 Environment Committee Budgets

2024-25 Budget Framework and Timetable Report

Draft 2024-25 Capital Programme Budget Report

Appendix 2 – Draft 2024-25 Capital Programme Budget