Warwickshire County Council has approved its 2021/22 budget.
The budget for 2021/22 is the first year of a five-year rolling Medium Term Financial Strategy that will align the resources of the County Council to the objectives and ambitions set out in its Council Plan and Covid-19 Recovery Plan.
It sets out how the Council will invest its resources to ensure Warwickshire’s communities and individuals are supported to be safe, healthy and independent and Warwickshire’s economy is vibrant and supported by the right jobs, training, skills and infrastructure.
The approved budget includes £136 million of permanent investments over the next five years. This includes £9.1 million in children’s social care services; £8.2 million to protect elderly citizens and vulnerable adults and £3.8 million to support children and young people with disabilities for next year alone.
The Council intends to continue and extend the approach adopted last year to invest its short-term resources to support the priorities of the Council Plan and to invest in Warwickshire’s future, with the added focus on supporting recovery from COVID-19.
The Council’s Investment Funds contain £15m revenue funding which will be topped up during the five-year period as finances allow.
Preventing Vulnerability Investment Fund - Areas to benefit from this funding include promotion of positive mental health; provision of targeted family/parental support; mitigating the impact of the second lockdown through early help and youth provision; continuing partnership working on tackling substance misuse and homelessness; and creation of a fund for schools in deprived areas to help deliver activity that will stretch and develop learners.
Climate Change Fund - Initial priorities will be taking forward the eco-schools resolution; a review of the Council’s waste strategy; and the development of business cases for further renewable energy schemes.
Place Shaping and Economic Growth Fund - The purpose of this fund is to support strategic investment in Warwickshire’s economy. Projects to be brought forward for consideration include the development of an economic recovery plan for Warwickshire; investment in 5G; an enhanced focus on skills and training to get young people back into work; and business support programmes.
The Council agreed a total increase of 2.99% in Council Tax. 1% being ringfenced for adult social care, supplemented by a 1.99% rise for all other services. This equates to 86p a week extra for a Band D property.
Leader of Warwickshire County Council, Cllr Izzi Seccombe said:
“We have had to make difficult decisions and choices in determining the budget for 2021/22 and the first year of a five-year rolling Medium Term Financial Strategy."
“We have had to take steps to address short-term financial challenges and do this in a way that does not undermine the council’s financial sustainability over the medium term or leave gaps to be closed in future years."
“We have set out £136 million of permanent investments and through our investment funds will continue to provide short-term resources that support the priorities of the Council Plan and Warwickshire’s recovery from COVID-19."
“The budget is the basis of a new and more hopeful future, it invests in vulnerable people, businesses, and a green recovery, and continues to support our vision to make Warwickshire the very best it can be sustainable for now and for future generations."