The council is hiding rather a lot of your money under the mattress. On Tuesday the cabinet considered a report on the councilâ€™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 Â£70k after the establishment of reserves (as set out in Appendix 1).
You might think from this statement that the balance between the councilâ€™s income and expenditure was finely balanced with only a Â£70K surplus out of a spend of around Â£1 billion.
If you take a peek at Appendix 1 you will find that the councilâ€™s net underspend was Â£9.47 million so the Â£70K was the highlighted figure and Â£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 Â£9.4 million of your money that it didnâ€™t need this year. They donâ€™t want to share it with you though. Now run along.