Budget information

Revenue Budget

In February each year the council is required to set a budget for day-to-day expenditure for the financial year starting on 1 April. This is called the revenue budget and is the amount of money the council needs to provides its services during the year. It is a legal requirement for the council to set a balanced budget, i.e. the expenditure cannot be more than the council’s income.

Some of the money comes from central government in the form of revenue grants while the rest is raised from the council tax and charges the council makes for some of its services. Examples of revenue expenditure include employee salaries and the cost of providing the refuse collection service.

In addition to the annual budget the council also produces a medium term financial plan (MTFP) which covers the following next four years. This shows how the future budget will be affected by known changes in services or funding.

Find out more about the council’s budget for 2018/19.

Council Tax

At the same time as setting its revenue budget the council also has to set the district council tax for the forthcoming year. The total council tax for each property is made up of four elements – district, town or parish, Oxfordshire County Council and Thames Valley Police. We publish information on how we spend the money and the services we provide.

For more information about council tax see the council tax and benefits pages.

Efficiency Plan

As part of the December 2015 Spending Review, the Secretary of State for Communities and Local Government offered to councils a four-year funding settlement for the period 2016/17 to 2019/20.  To qualify councils have to publish an Efficiency Plan which covers the four-year time period.  Our Efficiency Plan for 2016/17 to 2019/20 can be accessed from the downloads section on the right.

Capital Programme

The council also sets a capital budget each year which sets out the cost of the capital programme for the forthcoming years.

The capital programme is an agreed list of capital projects that are usually of a “one-off” nature and the expenditure typically happens over more than one financial year. Capital expenditure results in the construction, acquisition or improvement of an asset such as a building or other community facility e.g. a leisure centre.

Capital expenditure is paid for using money the council has saved in previous years, the proceeds from selling council assets such as surplus land or buildings (capital receipts), developers’ contributions and specific government grants.

Last reviewed: 25 - 05 - 2018

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