The Council sets its Budget and Medium-Term Financial Strategy each year in February for the 12-month period starting from April. The Council must set a 'balanced budget' which means that any costs or expenditure must be affordable from the income received or be funded from reserves.
Throughout the year, Cabinet and the relevant Cabinet Advisory Board receive quarterly budget monitoring reports showing how much each service is expecting to spend against their budget.
As a local authority, the Council must differentiate between revenue costs and capital costs: 'Revenue' costs are those spent on the day-to-day running of Council services, including staffing, contracts etc whilst 'Capital' expenditure is that spent on building or improving assets.
The Council's approved Budget and Medium-Term Financial Strategy can be found here: Budget 2024/2025 and Medium-Term Financial Strategy Update (tunbridgewells.gov.uk)