Budgets

The Council's budgets are agreed each year in accordance with a statutory timetable.  The factors that determine the budget are wide ranging and many significant ones are not under the direct control or influence of the Council, e.g. Government grants, national pay awards, bank interest rates etc.

Wolverhampton has a well-established system of producing three-year medium term financial forecasts.  Tight control of approved annual budgets then forms a key part of the overall strategy and, where possible, efficiencies or one-off savings are made.