Council spending 2013/14

Update on council spending  /  Where does council money come from and where is it spent?  /  Delivering the Camden plan

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Update on council spending 

The Council has made significant reductions in spending since 2010 through its savings programme. However the Council still retains budgets of £908 million. The 2013/14 budget has focused on the key investments that will progress the Camden plan.

Update on the Council’s savings programme

Central Government cuts have forced us to make savings of £83.3 million between 2011 and 2014. Faced with these tough financial choices, our priority has been to protect services for those in greatest need.

Savings programme update:

• We have delivered £56.7million (68%) of the £83.3 million savings programme agreed in 2010/11.
• £43.5 million of the £83.3 million savings programme has come from back office savings, such as administration, human resources and finance, rather than frontline cuts.
• £26.6 million of savings remain to be delivered. The majority of these are incorporated in low-risk programmes, which are progressing as planned and expect to be achieved in full and on time.
• The savings programme has meant the loss of staff, with the reduction of over 900 posts since April 2010.

Our approach to long term planning and ‘investing to save’ has allowed us not just to deliver a balanced budget until 2014, but also to launch a number of innovative projects that tackle inequality, raise educational standards and re-invest £117 million into schools. Examples are our Community Investment Programme (CIP) and King's Cross Development project which will improve services to residents.

What next?

The period beyond 2014 remains uncertain with more central government cuts expected. A combination of future funding cuts, rising costs and demographic changes will lead to an annual pressure of between £40 to £50 million somewhere between 2017/18 and 2020/21.

Medium Term Financial Strategy

Our Medium Term Financial Strategy (MTFS) looks at our revenue and capital budget and makes forecasts about our spending, funding and other resources. The Cabinet makes decisions about future services based on this information. The next MTFS will be discussed at Cabinet on 4 March 2013.

You can find out about past medium term financial strategies (MTFS) below:

• 1 December 2010
• 23 February 2011
• 20 July 2011
• 7 December 2011
• 18 July 2012
• 5 December 2012

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Page last updated Feb 27, 2013 2:23 PM