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Give us your feedback on our four-year financial plan

The Council will be setting its budget for 2017/18 in February. Part of that process includes updating the Medium Term Financial Plan (MTFP) for the next four years.

The MTFP sets out how Council funds will be spent on the services and priorities which have been agreed after consulting local residents and partner organisations.

These priorities are focused on:

  • Helping to create a safer and healthier environment for our residents to live and work in
  • Meeting financial challenges and providing value for money
  • Supporting economic development and regeneration
  • Protecting and improving the environment

The MTFP aims to make sure that resources are used efficiently and effectively to deliver these priorities. It also outlines the significant financial pressures to the Council over the next four years and plans in place to respond to these pressures.

Medium term financial plan for Staffordshire Moorlands [358KB]

Get involved

We are now asking people to give us their feedback on these proposals. All comments will be read and published on the website anonymously and considered before final decisions are made. Please send your comments to policy@staffsmoorlands.gov.uk

SUMMARY

The key issues in the Medium Term Financial Plan are:

  • The way in which all local authorities are financed is changing from government grant to locally generated income such as council tax and business rates together with fees and charges for Council services. Three years ago local income streams accounted for only 53% of the Council's income; by 2017/18 this is expected to have risen to 68%.
  • Revenue Support Grant - the core Government grant to Local Authorities - is to be phased out completely at the end of 2019/20.  This amounts to a £1.25million reduction in funding from 2016/17 to 2019/20. 
  • The Council has benefited significantly recently from the New Homes Bonus - the Government grant funding awarded to councils based on an increase in housing provision. In 2016/17 income was £1.26million.Changes in the national scheme are likely to reduce this funding to £139,000 by 2020/21 based on current housing forecasts.
  • The plan proposes an increase in the Council's share of council tax of 1.9% per year over the next 3 years, which will generate £92.920 in income per annum.
  • Details of the proposed business rates retention system which will mean councils retain 100% of Business Rates growth income are not yet available. At this stage the Council has not included any assumptions based on the new system in the MTFP.
  • The Council is reviewing its fees and charges (charges for Council provided services e.g. car parking, pest control, leisure facilities, planning, trade waste) with the aim of generating an extra £55,000 per year.
  • The Council's affordable housing joint venture arrangement with Your Housing Group has enabled the development of 270 affordable housing units and care facilities. The Council has provided £19million in funding (all repayable) and benefited financially from the interest charged on the loan facility by £275,000 annually.
  • The Council will need to encourage and enable sustainable economic and housing growth even more than it already does so as to get the optimum income from business rates, council tax and New Homes Bonus in future.
  • The combination of reduced funding and cost increases is a forecast £2.3million budget shortfall by 2020/21.  The Council has plans in place over the next fours years to respond to this and a new efficiency programme will be presented in the February version of the MTFP.  Large scale future projects include:  joint arrangements with High Peak Borough Council (the Council's Alliance partner) for the provision of waste collection; joint procurement for the operation of leisure centres and facilities management of the Council's buildings; and streamlining customer contact.  The aim is to continue to make savings at the same time as maintaining priority services.