Winchester City Council Budget/Medium Term Financial Strategy 2024/25

Overview

Each year all local authorities are required to publish a budget to show how they will fund the services they provide, or activities they support and we'd like your views.

Despite the public sector facing the most significant challenges and demand pressures in living history, through careful financial management our budgets are sound and stable for the next two years.

We have ambitious plans in place to transform our services, increasing access for customers, and improving our efficiency to address future budget pressures. We estimate we have to reduce our budget by £3.4 million per annum from April 2026 onward.

The Medium Term Financial Strategy sets out an approach for managing our limited financial resources, while protecting the services important to you and our Council Plan priorities

Cabinet recently approved these assumptions, subject to consultation, and they will be used to prepare the detailed 2024/25 budget. It will then be brought to Council in February for approval.  These include: 

Investing in greener faster measures such as:  

• Hydrotreated Vegetable Oil (HVO) fuel for council vehicles to reduce carbon emissions
• Encouraging more recycling – through a wider range of plastic recycling & food waste 
• Encouraging customers to choose to go paperless when doing council business 
• Improving our online services – so you can do you council business when it suits you

Setting aside additional funding for unavoidable budget pressures such as the cost of providing Temporary accommodation to prevent homelessness for our most vulnerable residents. 

Adjusting reserves to ensure sustainable finances for the future. 

Increasing Council tax in line with the Government’s referendum limits. 

Please click here for the full budget report.