As well as providing everyday services, the council will be investing £430 million over the next 3 years in long-term projects. These projects will include:
- improving roads
- enhancing our town centres
- delivery of infrastructure for the future housing development on the Hoo Peninsula
- creating school places
- delivering housing
- investing in cultural and leisure facilities.
The money for these schemes come from a number of sources, including borrowing, government grants and selling surplus assets.
The council spends £530 million a year providing services to Medway residents. The table below illustrates how spending is paid for, comparing figures to 2022 to 2023.
| 2022 to 2023 | 2023 to 2024 | |
|---|---|---|
| Gross revenue spending on council services | £496.301 million | £530.269 million |
| Less: gross income | £144.320 million | £142.000 million |
| Budget requirement | £351.981 million | £388.269 million |
| Less: government grant and business rates share | £213.895 million | £239.386 million |
| Council Tax requirement | £138.086 million | £148.883million |
| Plus: Parish precepts | £563,000 | £615,000 |
| Council Tax requirement including parishes | £138.649 million | £149.498million |
Changes in cost of services
The council plans to spend £530 million to provide serves to residents, the table below shows how this is spent, comparing figures for 2022 to 2023.
| Services | Budget 2022 to 2023 | Budget 2023 to 2024 |
|---|---|---|
| Services for children | £137.530 million | £157.191 million |
| Housing (including benefit payments) | £102.988 million | £101.277 million |
| Adult social services | £114.343 million | £125.205 million |
| Services for the environment | £55.404 million | £56.367 million |
| Leisure and cultural services | £18.960 million | £20.022 million |
| Public health | £16.003 million | £16.504 million |
| Other council services | £50.537 million | £53.704 million |
| Total spending | £495.764 million | £530.269 million |
| Less: Income from charges, government grants, etc | £358.215 million | £381.386 million |
| Council Tax requirement | £137.549 million | £148.883 million |
The Secretary of State made an offer to adult social care authorities. ('Adult social care authorities' are local councils which have functions under Part 1 of the Care Act 2014, namely county councils in England, district councils for an area in England for which there is no county council, London borough councils, the Common Council of the City of London and the Council of the Isles of Scilly.)
The offer was the option of an adult social care authority being able to charge an additional 'precept' on its Council Tax without holding a referendum, to assist the authority in meeting its expenditure on adult social care from the financial year 2016 to 2017. It was originally made in respect of the financial years up to and including 2019 to 2020. If the Secretary of State chooses to renew this offer in respect of a particular financial year, this is subject to the approval of the House of Commons.
How is my Council Tax worked out?
Each residential property is put into a valuation band. There are eight bands altogether according to the estimated market value, as at 1 April 1991.
The council divides the amount of money it needs to raise by the number of properties in Medway. This gives the amount each household pays. For example, in 2022 to 2024 people with a property in Band D will pay £1,671.23. (This is for council services only and doesn’t include the amount that is added on for police and fire services and charges by parishes). Charges for the remaining bands are a proportion of the Band D charge.
| Property value range | Band B | Proportion of Band D chargeable |
|---|---|---|
| Up to £40,000 | A | 6/9 |
| £40,001 to £52,000 | B | 7/9 |
| £52,001 to £68,000 | C | 8/9 |
| £68,001 to £88,000 | D | 9/9 |
| £88,001 to £120,000 | E | 11/9 |
| £120,001 to £160,000 | F | 13/9 |
| £160,001 to £320,000 | G | 15/9 |
| £320,001 and above | H | 18/9 |