Finance factsheet 2008/09

What is the Woking Borough Council budget for 2008/09?

  £ millions
Planned investment during the year £19
Planned expenditure on Services (see below) £80
Income to be received (see below £66
Amount to be met by Government funding and Council Tax £14
Government support through Revenue Support Grant and
Business Rates 		 £6.6
Amount to be paid for by Council Tax £7.7
Increase in amount to be met from Council Tax since 2007/08  £0.114

Back to top

How much is Council Tax?

 Band Surrey County Council  Surrey Police Authority  Woking Borough Council  Total 
A 705.36 125.28 127.08  957.72 
B 822.92 146.16 148.26 1,117.34
C 940.48 167.04 169.44  1,276.96
D 1058.04 187.92 190.62 1,436.58
E 1293.16 229.68 232.98 1,755.82
F 1528.28 271.44 275.34 2,075.06
G 1763.40 313.20 317.70 2,394.30
H 2116.08 375.84 381.24 2,873.16
 Total amount of Council Tax to be collected in the year £58million
 Total amount of Business Rates to be collected in the year £45 million

Back to top

Where does your Council Tax go?

  £ millions 
Woking Borough Council £7.7
Surrey County Council services £42.8
Surrey Police £7.6
Total £58.1

Back to top

Planned expenditure on Woking’s services

  £ millions
Corporate and democratic processes (includes civic functions,
members’ services, elections and marketing)		 £5.3
Local Economy (includes promoting the local economy, property management and the market)  £1.9
Tax Collection  £1.1
Transport and Parking  £4.4
Environmental Management (includes grounds maintenance, street cleansing, and planning) £4.8
Public Safety and Protection (includes building control, community safety, food and health and safety, licensing and local land charges) £2.2
Refuse and Recycling  £3.3
Housing and Council Tax Benefits  £22.3
Grants to Voluntary and Community Organisations £0.8
Housing £17.3
Personal Social Services (includes Careline, Community Meals and Brockhill Extra Care)  £1.1
Recreation and Culture £9.8
Other items  £6.2
Total £80.5

Back to top



Where does our income come from?

   £ millions
Reserves £5.1
Interest and surpluses £1.8
Other income £2.1
Sales, fees and charges £14.3
Government grants £22.2
Commercial and housing rents £20.7
Total income beofre Government Funding and Council Tax £66.2
Revenue Support Grant and Business Rates £6.6
Council Tax £7.7
Total income £80.5 

Back to top



Why our budget has changed

The amount that needs to be raised from Council Tax and Government funding to pay for Woking Borough services in 2008/09 is £14.3 million. The amount to be raised from Council Tax for Woking Borough services in 2008/09 is £7.7m million - this is an increase of £114,000 over the 2007/08 budget after taking into account the Council Tax surplus from previous years. Band D 2008/09 for Woking services is £190.62, the same as for 2007/08.

Reasons for the £114,000 increase

Inflation £2,830,000
Service costs experience inflationary pressures, including contractual and pay inflation.

Inflation Avoided -£150,000
Budgets have only been increased for inflation where there is a contractual obligation to do so. Inflation is avoided on service budgets where there is no contractual obligation.

Additional service costs £270,000
Additional service costs arise where new or improved services are introduced as a result of decisions by the Council or instructions from the Government.

Increased asset financing costs £1,056,000
This reflects higher borrowing by the Council to finance its Investment Programme in 2008/09.

Reduction in interest and investment income £152,000
This reflects the reduction in investment income due to the timing of long term borrowing decisions.

Cost reductions £1,667,000
In order to keep the Council tax for Woking’s services at the same level as for 2007/08 a number of cost reductions have been achieved.

Increased income from fees, charges and commercial rents £2,095,000
Services have budgeted to achieve additional income from fees and charges. Commercial rents are reviewed in accordance with leases.

Changes in government funding and grants and previous years Council Tax Surplus £282,000
The Council will receive a 1% increase in general Government subsidy.