What is the budget? By 11 March each year, each Council must set an amount of council tax. Behind this, are a set of calculations laid down in legislation which boil down to the amount by which expenditure exceeds income in accordance with the required calculations and which then forms, in England, the authority’s ‘council tax requirement’ (whereas in Wales, it is still referred to as the ‘budget requirement’). For further information on council tax, see Practice Note: Council tax. Income will come from: • government grants (both general and ring-fenced) • business rates (national non-domestic rates (NNDR)), see Practice Note: National non-domestic rates—billing recovery, exemptions and reliefs • investments, and • fees or charges that the law may permit the Council to operate The Council may also make use of financial reserves it has for this purpose. Council tax itself is subject to certain strictures, not least of which is the capping regime, which then limits the amount of income that can be raised overall. Against this is the