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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Monday, 27 February 2023 10:02
Spelthorne Council Reports a Sustainable Balanced Budget
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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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