3. Where does the money go?
We plan to spend £57.203m gross (£62.113m 2021/22) this year on providing services including contributions to capital. £48.013m (£53.391m 2021/22) of this comes from income we receive from grants, fees and charges and other income, which leaves a council tax requirement of £9.190m (£8.722m 2021/22).
Like many other authorities, Teignbridge is dealing with a challenging economic climate due to the COVID pandemic. Government assistance for both authorities and local businesses had been made available to reduce the impact, but the ongoing support is now being withdrawn.
Housing benefit payments have decreased as claimants transfer across to Universal Credit. New Homes Bonus - an important government grant - is reduced by £214,320 in 2022/23. As housing benefit payments reduce, so does our grant to cover those payments. £2.644m of general reserves have been used to set a balanced budget in 2022/23.
We approved a £5 (2.78%) increase in the share of the Council tax which means that the amount that we receive to provide services is £185.17 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 can change your instalments or by contacting us on 01626 361101 when you receive your annual bill in March 2022.
A bill is issued in March detailing the instalments for the forthcoming year.
Information on budgets
Please contact us if you have problems paying your council tax bill so that we help you before any action is taken.