February 2018

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Published on 23 February 2018

Teignbridge sets budget for coming year

Teignbridge District Council today agreed to set its budget for the coming financial year.

Full Council met today (Thursday 22 February) to consider its final financial plans.

This means council tax for a Band D property is increased by 3.12% to £165.17 per annum. The budget details how the council will continue delivering public services, taking into account the current and future demands of local residents.

The final financial plans for 2018/19 include:

• To continue £40,000 in rural aid funding
• To continue the free Sunday parking scheme across Teignbridge-owned car parks.
• Make small increases to car parking charges to manage increases in costs and reinvest in the service.
• To continue support for housing, business, jobs and community-led planning by investing money from the revenue budget into the capital projects programme.
• Maintain funding for the delivery plan which contributes to improving education, transport links, sports and open spaces.

Cllr Stuart Barker, Teignbridge District Council’s Executive for Corporate Services, said:

“This is a fair budget which reflects the financial challenges we are facing alongside the reality of dwindling resources and increasing demands.

“We are an ambitious and successful authority who delivers a lengthy list of high quality services and our residents are the priority in any financial decisions.

“This year’s budget demonstrates our continuing commitment to delivering ambitious housing developments, more affordable housing, extra employment opportunities and becoming more environmentally conscious through increased recycling rates.

“To protect the services which matter most to our residents we must look at alternate methods of generating incomes. This includes selling or leasing buildings to others, as in the example of JobCentre Plus moving into Forde House, sharing services with partner authorities and looking at income opportunities that the council can achieve.

“The council has various incomes streams and services to pay for. Just one example is the Teignbridge portion of council tax which brings in £8.1million this budget year. Waste, recycling and cleansing costs £8m alone which shows what people are getting for their money alongside leisure centres, opens spaces, housing and employment creation.

“It’s a wide remit and this budget address those priorities and the needs of our residents.”
Teignbridge has benefitted from previous saving plans including reductions in management costs, significant financial gains from investment in Newton Abbot’s Market Walk shopping centre and other property income.

At the start of the budget-setting process Teignbridge asked residents and businesses for their views and whether they agreed or disagreed with some statements. There were 480 responses from people and 96 from businesses. Overall:

• 71.2% agreed to an increase in council tax
• 73.7% agreed Teignbridge should back business and improve town centres
• 83.8% invest in infrastructure for employment, education, transport links, and sports and open spaces.
• 66.4% continue to support housing as a priority by enabling affordable housing and improving poor quality homes.

Like many other authorities, Teignbridge is dealing with a changing financial landscape and the main government grant, Revenue Support Grant, disappears completely in 2019/2020. 

Councils currently receive their funding from three main sources – central government grants, council tax and fees and charges. Despite being the collecting authority for council tax, Teignbridge only retains 9% of the total bill, with the majority going to Devon County Council (72%), and contributions also going to the Police Crime Commissioner (10%), Fire Authority (5%) and local town and parish councils (4%).