How the budget is set and monitored

The County Council prepares a three year budget each year, comprising a detailed budget for the next financial year, and an outline provisional budget for the following two years. In February 2010, the County Council approved a budget for 2010/11 and provisional budgets for 2011/12 and 2012/13. The process for preparing the detailed budget for 2011/12 is described below

Timetable for the 2011/12 budget

May 2010 – Medium term financial strategy updated following the 2010 Budget.

July 2010 – Corporate Efficiency and expenditure reduction workstreams approved by the Cabinet.

August 2010 – work on reviewing budget pressures and savings options for each service commences in conjunction with the development of service plans, and with undertaking reviews within the corporate efficiency and expenditure reduction programme.

October/November 2010 – Public Consultation commences on the County Council’s 2011/12 budget strategy.

December 2010 – provisional budget guidelines for 2011/12 to 2013/14 confirmed following confirmation of the provisional 2011/12 formula grant settlement.

January 2011 - services put forward their budgets within the guidelines set by the Cabinet.

February 2011 - Cabinet recommends a budget and council tax for 2011/12 to the County Council. The County Council approves the budget and sets the council tax as well as approving provisional budgets for 2012/13 and 2013/14.

March 2011 - services allocate their budgets to their services. The budget book is published.

April 2011 - financial year starts.

April to December 2011 - Finance Managers closely monitor spending and prepare regular monitoring reports for service executive members and for the Cabinet.

January 2012 - revised budgets are approved.

January to March 2012 - revised budget continues to be closely monitored.

March 2012 - financial year ends.

May 2012 - final accounts are prepared.

June 2012 - final accounts approved.

June 2012 - Statement of Accounts approved.

August 2012 - District Auditor audits accounts.

September 2012 - Statement of Accounts is published.

If you have any questions about the content of any of these pages please contact the County Treasurer's Department