Wyre Forest District Council achieved savings of around £311,000 during the last financial year. The council has done this by careful budget management, including both cost savings and increased income generation.
A report setting out the authority’s final accounts for 2018/19 shows savings of £0.3 million from an overall net budget of £12 million.
Savings have come from across all service areas. As well as efficiency cost savings, the council’s financial strategy is focussing on generating external income. It has increased income by £12,000 from garden waste collections and cost control in operational services has provided an additional £223,000 saving. There has also been a £33,000 increase in income from planning applications.
The full Final Accounts report is being considered by the Audit Committee on Wednesday 29 May.
The council must continue to find savings in order to address a funding gap in 2021/22 of around £2.1m. The gap is due to changes in the way local councils are funded by Central Government. The council’s plans are set out in a three year financial strategy which was adopted earlier this year.
Leader of the council and cabinet member for resources Councillor Graham Ballinger said: “I welcome the confirmation that the council has maintained its reputation for strong financial management as shown by these savings for 2018-19. The Progressive Alliance will be working hard for the community with our shared determination to make sure we continue to provide the services that local communities value while also addressing the funding gap set out in the medium term financial strategy.”
The Audit Committee meeting takes place at 6pm Wednesday 29 May at Wyre Forest House and is open to the public. The meeting papers can be found at: www.wyreforest.gov.uk/council/meetings/com57.htm#mt8079.