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Gloucester City Council is setting out its draft Money Plan for the next five years and budget proposals for 2022/23 in a report being presented to cabinet.

The Money Plan 2022/27 and budget aims to put the council in a strong position to continue the city’s recovery from the pandemic, despite funding pressures continuing.

It sets out the council’s approach to the management of its finances, gives indications of budgets and council tax levels and identifies any significant financial risks likely to be faced by the council in future years.

The plan also aims to identify the resources needed to fund the council’s priorities and achieve a balanced budget.

The report warns that local government continues to face a tough financial outlook because of COVID-19 and the primary aim has been to ensure councils have the resources and stability to provide vital public services while tackling the pandemic.

The city council will be able to finalise its budget when the Local Government Finance Settlement is announced in December. The revenue budget and capital programme will be presented to full council for approval in February next year.

The council will have to find further savings or income growth, but various measures have already been identified to help achieve this, including a proposal to move offices from Shire Hall to the Eastgate Shopping Centre.

Key projects will continue to be delivered as part of the capital programme, including the completion of Kings Square, Kings Walk improvements, the food dock and improvements to the railway station, as well as the development of the Forum and the regeneration of the Kings Quarter.

Cllr Hannah Norman, cabinet member for performance and resources, said: “We know the pandemic has brought considerable funding challenges, but strong financial management has enabled us to take action to reduce these pressures and increase our income.

“We will update and review our financial plan going forward to ensure we continue to invest in the city and provide the best possible service to our residents.”

The report will be heard by the city council’s cabinet at a meeting on Wednesday 8 December.

 

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