Against a backdrop of councils facing tough financial challenges, service cuts and government intervention, the council is not only balancing the books but continues to deliver on investment promises.
Last year the council successfully closed a gap of £6.2 million between the funding received from central government and the approximate £109 million annual cost of supplying local services.
Last night (Wednesday) the council’s budget for 2024-25 was approved by full council, setting out how they will meet a continued shortfall this year of £3.7 million whilst continuing to avoid using any reserve funds.
Leader of the council Mike Stonard said: “It is testament to comprehensive long-term financial planning that we are not facing the current fate of many other councils.
“We are all feeling the rising cost of living and increasing inflation levels have also placed additional pressures on the council’s finances.
“This means we are having to do things differently to deliver services in new ways and bring in more income to pay for the range of services we provide.
“We have been successful in bidding for £7.6 million in levelling up funding providing an additional investment in the city that wouldn’t have been possible otherwise.
“This builds upon the existing £63 million pound capital investment programme that remains undiminished for 24-25.”
Through wide scale consultation of the new corporate plan for 2024-29 the council heard that climate, outdoor spaces and regeneration were amongst key concerns for the city.
Alongside the continued commitment to the capital investment programme the council have been able to make further investment including:
- £2.2 million to be invested in improving play areas and parks across the city
- £160,000 on planning, developing and implementing approaches to reduce the impact of climate change
- £270,000 to support the delivery of comprehensive regeneration of East Norwich, one of the biggest sites in the East of England, and an area of strategic importance to the future growth of the city
A council tax increase of 2.99 percent will mean those living in Band D properties will pay an extra £8.63 a year, however council tax reduction of up to 100% will continue for those most in need.
The budget also introduces a second home premium and owners of long-term empty properties (between one and five years) will face a 100% premium on council tax bills.
Mike added: “With the continued shortfall in funding alongside inflationary pressure we’ve had to make some difficult decisions to maintain the provision of services and make improvements for the city.
“Ultimately I’m proud that the council are able to support those with the highest need and continue to deliver our investment commitments.”
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