WOKING Borough Council’s financial plans for 2023/24 will be decided by elected members at an Extraordinary Council meeting on Thursday evening.

A proposed budget, which includes implementing cost savings, as well as the use of £8.3 million in financial reserves, will see Woking Borough Council’s (WBC) share of the annual council tax charge rise by 3% from 1 April 2023.

The increase means that Band D households will pay £263.12 per year, an annual increase of £7.66, equivalent to less than 15 pence per week, for services such as refuse collections, planning services and leisure facilities.

Cllr Ann-Marie Barker, leader of the council, said: “Since my administration gained control of WBC, getting its finances under control and presenting a balanced budget for 2023/24 has been our priority.

“Achieving this has meant taking a responsible, affordable, and most importantly, a sustainable approach to the council’s finances.

“Whilst an increase in council tax is never welcome, especially at a time when households are struggling with the cost of living, the below inflation council tax increase is necessary to safeguard services in the short-term.

“Despite the setting of a balanced budget, the council’s medium and long-term financial position remain critical," she added.

“It remains unclear how the council will establish future balanced budgets without making difficult decisions around the continued delivery of some services. Further cost savings are inevitable to reduce the unsustainable reliance on the council’s financial reserves.”

Speaking ahead of Thursday’s meeting, Cllr Dale Roberts, portfolio holder for economic development and finance, said: “Let me be clear. We face a mountain of unsustainable debt, together with an uncertain and challenging future. It will require painful decisions about which services we can deliver.

“Significant obstacles lay ahead including an over-dependence on commercial rent and parking income, unaffordable debt and budgetary restraints usually applied under a Section 114 notice.

“Rescuing the borough’s finances will require implementing a fundamentally revised budget beyond this medium term financial strategy, optimising the council’s investment portfolio, and improving governance and controls. It will also require significant debt restructuring and that is not our decision to make.

“The path ahead is long, narrow, uncertain and precarious. Yet it is the only one available to us to rebuild a council focused first on delivering services and investing in local priorities.”

Surrey County Council and the Office of the Police and Crime Commissioner for Surrey have already determined their council tax requirements and their final precepts have been levied.

The precept levied by Surrey County Council is a 2.99% increase compared with 2022-23, including an increase to the Adult Social Care (ASC) precept. 

The Surrey Police and Crime Commissioner has increased the precept by £15, the maximum allowed for 2023-24, equating to a 5.07 uplift.

The total of the precepts from Surrey County Council, Surrey Police and Crime Commissioner, and the budget required for Woking borough’s purposes will result in a band D council tax of £2,248.77 in 2023-24.

The finalised figures for the 2023-24 council tax bands, including the levies of Surrey County Council and the Police and Crime Commissioner, are:

Band A: £1,499.18.

Band B: £1,749.04.

Band C: £1,998.90.

Band D: £2,248.77.

Band E: £2,748.50.

Band F: £3,248.22.

Band G: £3,747.95.

Band H: £4,497.54.