Simple terms explainer
Councils must prepare and approve an annual budget that balances all expected income and spending. This includes revenue for day-to-day services like education and waste collection, and capital for long-term projects such as housing or roads. The budget must be regularly reviewed and updated if circumstances change, ensuring the council can meet its financial obligations, maintain service delivery, and stay financially stable throughout the year.
Legal status
Statutory
Duty category
Finance
Corporate Services
Duty type
Organisational
Social determinant of health
Economic Stability
Emerging policy and legislation
0
Bodies with shared interest
Audit Scotland
Chartered Institute of Public Finance and Accountancy (CIPFA)
Standards and frameworks
2