The budget

These budgets record income and expenditure for one calendar year. They comprise two sections (operating and capital expenditure), which must be presented in balance.

The operating section of the budget covers all the expenses and revenues required to run the local authority, such as personnel costs and ongoing operating expenses. Tax revenues and government grants are also included in the operating budget.

The investment section of the budget presents one-off expenses and revenues that have a lasting impact on the value of our assets, such as property acquisitions and new works. Developments and works "earmarked" for 2020 are clearly shown here.

It's a powerful act that structures municipal activity for a whole year.