Where your money goes
| Revenue Budget || 2013/14 |
| 2014/15 |
|Employees ||58,850 ||56,647 |
|Running expenses ||15,562 ||15,617 |
|Capital financing ||8,262 ||7,062 |
|Transfer to reserves ||-6,381 ||-4,133 |
| Gross revenue expenditure || 76,293 || 75,193 |
|Service income ||-5,357 ||-4,672 |
| Net budget requirement || 70,936 || 70,521 |
| Financed by: |
|Council Tax ||38,263 ||39,746 |
|Collection fund surplus ||124 ||185 |
|Grant from Government ||32,549 ||30,590 |
| || 70,936 || 70,521 |
Our budget for 2014/15
This Authority continues to face many challenges in the current economic climate, to ensure that it has sufficient resources to deliver a good quality and effective service to the people of Kent and Medway. This Authority continues to be proactive and forward-thinking with regard to the efficiency of its service delivery and has therefore been successful in delivering significant financial savings over recent years, some of which have been re-invested to facilitate the purchase of new operational equipment and also to help fund the station-build programme. To ensure that this is sustainable over the medium term, and in light of the responses to the Council Tax consultation exercise, the Authority has increased its Council Tax for the first time in four years. The increase of 1.99%, resulted in an annual increase in a Band D property of £1.35 (an increase of just over 2.5 pence per week) making a Band D Council Tax £69.30 per annum.
Day to day budget (Revenue)
For 2014/15 the Authority has reduced its net budget requirement by just over £400k. However, to fund potential commitments and pressures of £2.7m, such as pay and price increases, the Authority needs to find over £3.1m of savings. Most of these savings will be found through natural wastage as staff numbers are reduced in support of the proposals detailed in the Authority's Corporate Plan.
In 2014/15 the Authority plans to spend £8.6m on capital assets, such as the development of two new fire stations, a road safety centre, property improvements and maintenance, information and communication systems, vehicles and operational equipment. The Authority pays for this work through a combination of borrowing, contributions from the revenue budget, capital grants and receipts from the sale of property.