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Ealing and Northfield

The rainy day fund we need now

The council is hiding rather a lot of your money under the mattress. On Tuesday the cabinet considered a report on the council’s Revenue and Capital Outturn and Statement of Accounts for the last financial year, see here. The first recommendation of the report was:

1. Notes the general fund revenue outturn that shows an underspend of £70k after the establishment of reserves (as set out in Appendix 1).

You might think from this statement that the balance between the council’s income and expenditure was finely balanced with only a £70K surplus out of a spend of around £1 billion.

If you take a peek at Appendix 1 you will find that the council’s net underspend was £9.47 million so the £70K was the highlighted figure and £9.4 million was hidden away in reserves for a rainy day. I thought that it was raining? Clearly the council has some wizard ideas of how to spend this £9.4 million of your money that it didn’t need this year. They don’t want to share it with you though. Now run along.

2 replies on “The rainy day fund we need now”

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