3. Where does the money go?
We plan to spend £68.338m gross (£67.041m 2017/18) this year on providing services. £60.315m (£59.415m 2017/18) of this comes from income we receive from grants, fees and charges which leaves a council tax requirement of £8.023m (£7.626m 2017/18).
Like many other authorities, Teignbridge is dealing with a changing financial landscape and the main government grant, revenue support grant, will be gone completely by 2019/2020.
The increase in the 2018/19 gross budget is mainly due to the increase in statutory national living wage and proposed 2% pay award for other staff, plus higher employer pension contributions. In addition we now employ all the staff in the Building Control partnership. Revenue support grant has gone down by £465,000 this year and rolled into rates baseline funding and New Homes Bonus – another important government grant - has reduced by £519,000.
We approved a £5 (3.12%) increase in its share of the Council tax which means that the Teignbridge element is £165.17 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 215 000 when you receive your annual bill in March 2018.
A bill is issued in the March of each year detailing the instalments for the forthcoming year.
Information on budgets
If there is a failure to pay the amounts as billed they will become subject to recovery action.