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