We are budgeting to spend approximately £440m on revenue and capital, in line with the council’s priorities contained within the Torbay Corporate Plan. The Council Tax requirement for the provision of services within Torbay will be £83m.
The Corporate Plan and the Council’s key financial documents relating to the 2023/24 revenue and capital budgets are available on our finance pages
Torbay Council Budget 2023/24
We have set a basic amount of Council Tax for 2023/24 based on its gross expenditure and income. For Torbay Council this results in a 4.99%* increase.
The following table shows expenditure and income for each class of service.
| Service | Expenditure £m | Income £m | Net expenditure £m |
|---|---|---|---|
| Adult Services | 116 | (64) | 52 |
| Children’s Services** | 118 | (67) | 51 |
| Corporate Services | 14 | (2) | 12 |
| Finance | 34 | (46) | 12 |
| General funding | 0 | (48) | (48) |
| Investment Portfolio | 10 | (14) | (4) |
| Net Budget | 350 | (219) | 131 |
| Place Services | 48 | (26) | 22 |
| Public Health | 10 | (0) | 10 |
| Total | 350 | (267) | 83 |
Full details of the 2023/24 service budgets can be found on the Council webpage at:
Budget 2023/24 - Torbay Council
* The Referendum Principles for 2023/24 allows local authorities (with adult social care responsibilities) to raise the council tax precept, for Torbay Council this is 2%, this precept is to be spent on Adult Social Care. Torbay Council has included the 2% amount in the 4.99% Council Tax increase for 2023/24.
** The Dedicated Schools Grant for 2023/24 included in income is approximately £51m
*** The gross expenditure and income figures included in the above table are linked to the budget digest information presented to Council in February, which are prior to any adjustments to comply with CIPFA and central government reporting requirements
Why our Council Tax requirement has changed
There has been an increase of £10m in the Council’s net revenue budget. The significant change is due to inflationary costs that total over £8m and £1.6m is expenditure specifically related to the Adult Social Care precept.
2023/2024 Council tax
The amounts to be raised by Council Tax for Torbay Council, Devon & Somerset Fire & Rescue Authority and Police and Crime Commissioner for Devon & Cornwall are applicable to all Torbay residents. The Parish Precept is only applicable to residents in the Brixham Town Council area. If applicable this will be detailed on your Council Tax demand.
| Details | Excluding Parish Precept £000 | Parish Precept £000 | Including Parish Precept £000 |
|---|---|---|---|
| Torbay Council | 82,722 | 0 | 82,722 |
| Police and Crime Commissioner for Devon & Cornwall | 12,194 | 0 | 12,194 |
| Devon & Somerset Fire & Rescue Authority | 4,512 | 0 | 4,512 |
| Brixham Town Council | 0 | 394 | 394 |
| Total Amount to be raised | 99,428 | 394 | 99,822 |
| Organisation/Details | 2022/23 | 2023/24 | 2023/24 % Change |
|---|---|---|---|
| Torbay Council | £1,690.06 | £1,774.39 | 4.99 |
| Police and Crime Commissioner for Devon & Cornwall | £246.56 | £261.56 | 6.08 |
| Devon & Somerset Fire & Rescue Authority | £91.79 | £96.79 | 5.45 |
| Sub-total | £2,028.41 | £2,132.74 | 5.14 |
| Brixham Town Council (only payable by Brixham residents) | £61.37 | £63.49 | 3.45 |
| Total | £2,089.78 | £2,196.23 | 5.09 |
The amount per Band D Property is used to calculate the Council Tax requirements for all the Valuation Bands as follows:
| Details | Band A | Band B | Band C | Band D | Band E | Band F | Band G | Band H |
|---|---|---|---|---|---|---|---|---|
| Ratio of each band to Band D | 6/9 | 7/9 | 8/9 | 9/9 | 11/9 | 13/9 | 15/9 | 18/9 |
| Torbay Council | £1,182.93 | £1,380.08 | £1,577.24 | £1,774.39 | £2,168.70 | £2,563.01 | £2,957.32 | £3,548.78 |
| Police and Crime Commissioner for Devon & Cornwall | £174.37 | £203.44 | £232.50 | £261.56 | £319.68 | £377.81 | £435.93 | £523.12 |
| Devon & Somerset Fire & Rescue Authority | £64.53 | £75.28 | £86.04 | £96.79 | £118.30 | £139.81 | £161.32 | £193.58 |
| Aggregate of Council Tax requirements ex. Town Council | £1,421.83 | £1,658.80 | £1,895.78 | £2,132.74 | £2,606.68 | £3,080.63 | £3,554.57 | £4,265.48 |
| Brixham Town Council (BTC) | £42.33 | £49.38 | £56.44 | £63.49 | £77.60 | £91.71 | £105.82 | £126.98 |
| Aggregate of Council Tax requirements including BTC | £1,464.16 | £1,708.18 | £1,952.22 | £2,196.23 | £2,684.28 | £3,172.34 | £3,660.39 | £4,392.46 |
Capital Programme
We plan to spend £90m on capital projects during 2023/24 to maintain and improve our service delivery. Over the period 2022/23 to 2025/26 we plan to spend £308m on capital projects. The capital programme will be funded primarily from a combination of external borrowing, grants, and sales of assets.
The significant areas of spending in 2023/24 include regeneration projects including Town Deal and Future High Street projects, social care facilities, major highway schemes, and schools related projects. Other significant projects include affordable housing, repairs on infrastructure and flood defence schemes.