3. Where does the money go?
We plan to spend £67.041m gross (£67.350m 2016/17) this year on providing services. £59.415m (£60.089m 2016/17) of this comes from income we receive from grants, fees and charges which leaves a council tax requirement of £7.626m (£7.261m 2016/17).
Like many other authorities, we are dealing with a changing financial landscape and the main government grant, revenue support grant, will be gone completely by 2019/2020.
The decrease in the 2017/18 gross budget is mainly due to contributing £620,000 less to capital. There is the increase in statutory national living wage and approved 1% pay award for other staff, plus higher employer pension contributions - together costing £520,000 in total. Revenue support grant has gone down by £750,000 this year and New Homes Bonus – another important government grant - has reduced by £410,000. Additional savings and income are planned alongside the 3.2% council tax increase. We’re also using reserves to balance the budget.
This means the Teignbridge element of Council Tax year is £160.17 for an average Band D property.
You can pay your Council Tax by 12 monthly instalments between April and March.
If you wish to take up this option you will need to contact us on 01626 215000 when you receive your annual bill in March 2017.
A bill is issued in the March of each year detailing the instalments for the forthcoming year.
Follow this link for information regarding the budget for Devon County Council
Follow this link for information regarding the budget for Devon and Cornwall PCC
If there is a failure to pay the amounts as billed they will become subject to recovery action.