On Wednesday 13th November, Council Cabinet will be seeking approval to go out to consultation on its Revenue and Capital Budget. The report sets out the Council’s Medium Term Financial Plan (MTFP) for 2020/21 to 2022/23, and describes how the Council will spend its funding on the development and delivery of Council services over the next three years, the key areas of investment and financial challenges faced.

It has been confirmed that the Council has a balanced budget for 2020/21 (subject to consultation), which will be discussed at the Wednesday Cabinet meeting. The Council is consulting on a total increase in Council Tax of 3.99% (of which 2% is specifically to support Adult’s and Children’s social care needs in our community).

This point is particularly important, given the significant increase in demand for People Services in recent years, specifically in Children’s Social Care. This trend is reflected on a national level, with the vast majority of local Councils experiencing similar growth in demand for services.

With this in mind, further investment has been included for these critical services in the budget proposals, and the MTFP has also been refreshed to fund other cost pressures arising from increased service demand.

The refreshed MTFP, which includes the impact of an increase in Government funding, is expected to go some way in improving the Council’s medium term financial sustainability.

The MTFP also includes an updated Capital Programme of £200.523 million, over the next three years. This builds upon the Capital Programme approved by Council in February 2019, which highlighted key areas for significant investment such as the modernisation and replacement of key Council buildings, the economic regeneration of the City Centre and flood defence works. The updated programme also lays out additional resources of £9.2 million over two years for investment in Derby’s highways infrastructure.

Councillor Chris Poulter, Leader of Derby City Council, said:

“We are pleased to bring a balanced budget for next year to Cabinet, laying out our plans for key areas of investment and growth, as well as bolstered support for the city’s services.

“The refreshed MTFP strengthens the Council’s financial sustainability, giving us greater means to address increases in demand for social care, alongside the ongoing financial challenges faced by all local authorities. We’re delighted that the government have recognised the need for greater funding for local services and welcome the increased local government settlement.

“We hope our investment in this area, as well as our updated ambitious Capital Programme, highlights our commitment to continually develop our city for residents.”

Subject to Cabinet approval, the 2020/21 Budget Consultation will run from 14th November for six weeks, with – pending approval – the budget being published in February 2020.

The consultation will be open to anyone who lives, works or studies in Derby and will be available to access online and in paper format.

We encourage all of you to take part and have your say on the proposals in the budget consultation. It is vital that we have your involvement in these important decisions, so we can meet your needs as Derby citizens.