COUNCIL MANAGES ITS BUDGET EFFECTIVELY DURING RECESSION

PRESS RELEASE

16 June 2009

Like many businesses and households the current economic situation has and continues to prove difficult for the Council. Fees from areas such as planning, building control, recycling and of course investment income have declined significantly. Also, although well insured, there was some uncertainty in some areas about the cost of the fire.  As such the Council, through prudent financial management, has just drawn up its draft accounts and these show that the steps the Council has taken have been successful.

The accounts, which are subject to audit, show an overspend of £20,000 compared to the position the Council expected to be at the year end in March 2009, this represents an overspend of 0.1% of the Councils gross expenditure. This overspend will be met from the Council’s reserves and will not directly affect council tax.

The Leader of the Council Malise Graham stated “These are very difficult times for us all financially and the fire obviously added to the complexity of the situation. In addition your Council always has demands from interested groups and bodies for help with funding. This budget outturn shows that by targeting our very limited resources on our priorities, we can live within our means by taking difficult decisions. Getting within 0.1% budget is a great achievement and I am very grateful to our finance team for their help and advice.”

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For more information please contact:

Dawn Garton

Head of Financial Service

01664 502444

dgarton@melton.gov.uk