Work is underway to balance the council revenue and capital budget for the year ahead. Initial proposals for the council’s finances for the next financial year have been shared today (8/11).
The revenue budget covers annual income and spending from day to day running of the council. The capital budgets include income and spending which provides service or economic benefits, often over a longer period.
The council budget covers funding for services, fees and charges, Council Tax rates, and spending. Some elements are ring-fenced for specific areas, such as the Designated Schools Grant (DSG) and the Housing Revenue Account (HRA).
Services provided by the council are wide ranging, including waste collection, council housing, schools, social care, roads and highways, parks, and libraries.
The first draft of the Budget proposals for 2025/26 has been published as part of the budget setting process that concludes in February 2025 at the annual Budget Council meeting. All councils are required by law to set a balanced budget each year.
The total revenue budget proposed for the next financial year is just over £183million. The council’s challenging financial position is well known, and the current budget gap is just over £17million, this will be worked on through to the final decision stage.
Cllr Dexter Smith, Leader of the Council, said: “We are committed to improving our council and protecting the vulnerable in our borough while we meet our financial responsibilities. In our budget proposals we look at making best use of resources to deliver in ways that support our communities.
“It is vitally important residents can have confidence public money is being spent efficiently, and being invested in the areas which matter to them. The proposals will be shaped and formed in the months ahead as we listen to views and continue to evolve the initial proposals.
“I strongly encourage all those who live, work or study in Slough to engage in this process by telling us what is important to them and their families as this will be used to decide how the council will work in the future.”
Between now and Budget Council, the proposals will be worked on and discussed at council meetings, including Cabinet on Monday 18 November.
You can have your say on the overall budget in a short survey that will be online early next week at Our Budget 2025-26. During the months ahead, we will also be asking your views on some of the different proposals being put forward within the main budget.
You can read the proposals in full and all the papers for the Cabinet meeting.
The wider set of Cabinet papers includes two related reports which, in combination with the work towards financial sustainability, contribute towards the council’s improvement.
The first is a progress update on the council’s improvement and recovery plan, covering the actions being taken towards becoming a best value council. The second is a direction of travel update on the new target operating model for the council, which covers the changes being proposed for the way the council works and delivers services in the borough to become a more efficient organisation.