Our 2023/24 budget
Shropshire Council's 2023/24 budget was considered at the council meeting on 2 March 2023. The gross budget for 2023/24 is £646m, with a net budget requirement of £256m. The last financial year has proved to be very challenging, and the budget position for the coming year will be no less so. Despite the scale of that challenge, there is a clear plan, shared between and pursued by Cabinet and the Chief Officers.
Our plan is framed by the objectives of The Shropshire Plan (TSP), and our prioritisation of services for local people. But we must also manage our money. Given the financial challenges being faced, we are promoting the most substantial spending reduction programme ever – we will promote improved efficiency and effectiveness, removing less effective processes and replacing them with better ones, adopt good practice from elsewhere, reduce costs, seek to intervene earlier where we can to prevent crisis situations in local families, seek additional income where possible, and – within and through all of that - ensure that the staff of the council are supported to be as effective and productive, as empowered and as supported as possible.
The budget book for 2023/24 sets out the council’s detailed revenue and capital budgets. It includes the following sections:
- Revenue summary
- Portfolio holder summary
- Subjective analysis
- Financial strategy summary
- Detailed budgets by service area
- Appendices supporting the revenue budget
- Housing revenue account
- Capital programme
As you will see from the capital programme section of this book, we're planning to invest £115 million into local projects in 2023/24. The capital programme remains priority led, reflecting the need for growth in the Shropshire economy, investment in infrastructure and roads, investment in schools and supported living development investment in leisure provision, development of new housing within the Housing Reveue Account and investment in regeneration. The council’s capital strategy was approved by full council on 2 March 2023.
Full details of the council’s financial position are laid out in our medium-term financial strategy which was approved on 2 March 2023.