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Monday, 27 February 2023 10:02

Spelthorne Council Reports a Sustainable Balanced Budget

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At a meeting of full Council on 23 February 2023, Councillors agreed a revenue budget and capital programme for the coming financial year.

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1 comment

  • Comment Link Lawrence Nichols Tuesday, 28 February 2023 08:36 posted by Lawrence Nichols

    Not sure I would describe this budget as sustainable - just look at the projected deficits in future years.

    Council income from the £1bn property portfolio is down 22% (£13m) in the next financial year and not expected to recover fully in the next three years. In 2023/24 the commercial properties will be loss making (i.e. costs exceeding income). That there is a SInking Fund reserve of >£32m to call on is a god thing, but the future is very uncertain.

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