Council plunders reserves to balance books
October 15, 2010 7:38 AM
Two months into the current financial year Wiltshire Council found itself overspending its budget by nearly £5million.
By the end of August the deficit had been reduced to £1million despite increasing overspends on departmental budgets. This has been achieved by taking £8.5million from a number of reserve funds including 2m from insurance, £2m from the Private Finance Initiative reserve and £2million from general funds.
The need to dip into reserves on such a massive scale in the middle of the financial year shows the extent of the financial crisis at the council, which has been exacerbated by the excessive pay-offs to council officers associated with the move to one council.
Although many of the financial promises made when the district councils were abolished have been shown to be incorrect the council is still claiming that there will be savings ... ... ... tomorrow.
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