1. Let's Talk About Our 2023/2024 Budget......

It seems that everywhere we look these days there are price rises and pressures on our daily budgets - fuel, gas, electricity, food, insurance are just a few areas where we are seeing what seems like constant increases in costs. These increases affect all of us - individuals, families, community groups, businesses, and public bodies are all feeling the pinch and trying to make savings wherever possible.

The Town Council is no different and is facing a substantial financial challenge of its own in order to balance the books both in the current financial year and looking ahead to next year.

The Council has been reviewing the impact of the economic difficulties and cost-of-living crisis on our finances ahead of the setting of the 2023/24 Budget in January.  It has seen significant inflationary increases in running costs, staff pay increases and funding cuts, increasing capital investment commitments, as well as a fall in balances and reserves.

The Council is striving to identify and deliver efficiency savings and generate new income whilst at the same time protecting and maintaining all of the facilities, services, and events the residents of Great Aycliffe value so much and trying to keep any required increase in the Town Council element of the Council Tax bill as low as possible.

Did You Know?

Nearly 8 out of 10 residents in Great Aycliffe live in properties rated in Council Tax Valuation Bands A to C.

If you live in a Band A to C property, your current annual Council Tax bill will be between £1,573.12 and £1,629.80 per year, and of this the Town Council receive £170.04 in relation to a Band A property and £226.72 for a Band C property.

Effectively 11p in every £1 of your Council Tax comes to the Town Council to pay for the many services we provide.
The remaining 89p goes to Durham County Council, and the Police and Fire Authorities.

The Town Council Tax bill is currently £170 per year or £14 per month at Council Band A and nearly 60% of Great Aycliffe residents pay their Council Tax at this rate.

2023/24 Revenue Budget and Council Tax Proposals

In overall terms, the Council is proposing a 2023/2024 Revenue Budget that protects and maintains all of our current services, facilities and events next year.

The Council is also aiming to maintain some surplus resources in the budget which will allow it to replenish its balances and reserves. This will help ensure that we can continue to make capital investment in community assets such as our cemeteries, allotments, parks and play areas, for the benefit of the community, in the coming years.

In order to do so, the Council is proposing that it raises the Town Council proportion of the Council Tax bill by around £12.50 next year for the vast majority of local taxpayers, i.e. those living in Band A properties.

Like everyone else, the Town Council is facing significant unavoidable inflationary increases in its running costs.

The Council Tax increase being proposed is well below the current rate of inflation, and to achieve this, savings have been identified and made across all services to limit the increase in the Town Council Tax element of the Council Tax bill to our local residents.

The Council appreciates that any increase in the monthly outgoings of our local taxpayers will not be popular in these difficult times.

However, we hope you will agree that a monthly increase of £1.06 in the Town Council element of the Council Tax bill is a small price to pay to ensure that all the existing services provided by the Town Council can be protected for another year.

2023/2024 Budget Survey

The Town Council completely understands the financial problems and worries people are facing at this time and has worked hard to restrict the required increase to the Town Council Tax next year, whilst at the same time protecting the future financial viability of the Council.

In light of the difficult times it is more important than ever for the Town Council to hear your thoughts and feelings on the priorities we need to focus on in the Town Council budget for 2023/24.

Our annual Budget Survey is your opportunity to tell us what you think.

The following survey has 6 questions and will only take a few minutes to complete.