A report explaining how South Kesteven District Council has successfully made ends meet during a challenging financial year will be presented to Cabinet next Tuesday (11th).
The report provides Cabinet with the detail of the Council’s provisional outturn position for the year ended 31 March 2023.
It follows a turbulent year during which an amended budget was approved in November to take account of soaring utility costs and other price rises.
Deputy Leader of the Council, Cllr Ashley Baxter, said: “Effective budget management is critical to ensuring expenditure is in line with expectations and is targeted towards delivery of the Council’s priorities.
“Significant changes in prices, not least reductions in energy costs, have resulted in an outturn position better that previously forecast. This is not exactly ‘good news’ but the news is not as bad as was expected. The Council has also benefited from additional income of over £500,000 as a result of increased interest on investments.
“In terms of our future aspirations, we are proposing an adjustment of our reserves. This includes provisions for anticipated changes to public sector pay as well as a new £300,000 reserve to facilitate the council’s response to the environmental and financial challenges of climate change.
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