Deliver a balanced revenue outturn position
What does this mean?
The Council has two different budgets, a capital budget and a revenue budget. The capital budget usually pays for big “one off” expenses like construction projects, which have a lot of value over the long term. The revenue budget pays for the day to day running of the Council. This objective measures whether the Council’s revenue budget balances at the end of the year.
Why is this important?
This is important because shows whether the Council has been able to achieve its planned savings, and by extension how well the Council is managing residents’ money.