The amount of money required by the Council to carry out it's functions in 2024/25 is £13.695m
A proportion of this is met by a share of Business Rates collected, with the balance being met from Council Tax.
The following table provides an analysis of how the Council's budget requirement is being funded in 2024/25 and illustrates how the Council Tax for a band D property is calculated.
| 2023/24 | Band D Equivalent | 2024/25 | Band D Equivalent | |
| £m | £ | £m | £ | |
| 13.086 | 438.39 | Budget Requirement | 13.695 | 456.26 |
| Less: Central Government Support | ||||
| 6.014 | 201.47 | Business Rates Retention | 6.371 | 212.26 |
| 7.072 | 236.92 | Amount to be raised from Council Tax | 7.324 | 244.00 |