Councillors asked to decide how savings can be used

Cllr Turner

Members of Kirklees Council’s Cabinet (the decision making part of the council) will be asked to agree how to use the savings we made in the year 2014/15.

The £4.5 million savings – which is 1.4% of the overall revenue budget of more than £321 million – have been generated from areas such as strike payment savings, an underspend on fuel, welfare fund savings as well as managing staffing vacancies.

The cabinet report recommends that the money is used to save on future borrowing costs and added into reserves to support the move to new council.

Cllr Graham Turner, Cabinet Member for Resources, said the savings have been generated in-year, and should be used where they can give the best benefit.

He added: “It is right that the council – not having spent all its money – should reallocate that saving for future years. In bringing the report to Cabinet, we can explain fully to members of the public that this money can bring about a reduction in planned borrowing, resulting in further savings of £295k a year over a seven year period from this year onwards.

“It is not cash we could have used to prevent closures to public toilets as an example, but it does allow us to borrow slightly less to deliver our capital plan with the future interest savings that will lead to every year.”

“It is a credit to our hard working staff that they have taken on board our current financial problems, due to cuts from the government in our budget, and have worked extremely hard to save money where possible over the last year, and it makes prudent financial sense to use this money to save on our borrowing costs in future years.”

Cabinet will meet to discuss the proposals on Tuesday 2 June. Then the Cabinet and Council (this all the elected members from all the different political parties) will consider how to allocate the balance of the amount in July.

 

One comment

  • errrrrrr………….

    The savings are from cuts to services.

    Rather than squandering the money elsewhere, why not instead NOT cut the services in the first place?

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s