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Borough of Poole announces final year budget

Borough of Poole is pleased to announce that for the 12th consecutive year the council has not overspent its budget, despite significant Government funding cuts and continuing demand pressures on key services.

The news comes as the final accounts for 1 April 2014 to 31 March 2015 are recommended for approval by Cabinet and Council.

The council has delivered a £2.5 million underspend in its financial position since December, when the budget for 2015/16 was set. A significant element of this improvement is due to the resolution of a number of claims against the council.

It is proposed that the underspend is transferred to the council’s reserves and used to offset future funding pressures, including further anticipated Government grant reductions.

Councillor Janet Walton, Leader of the Council, Borough of Poole, said: “Council staff and Members have been working together to achieve savings wherever possible. Our robust financial management has ensured that we have spent £2.5 million less than was originally planned. We are now in a better financial shape as we face the difficult financial challenges ahead.”

Councillor May Haines, Deputy Leader of the Council, Borough of Poole, said: “These savings have been achieved through the sheer hard work of staff. Their professionalism and dedication in continuing to seek out opportunities to make savings or negotiating settlements is to be admired.”

Adam Richens, Head of Financial Services, Borough of Poole, said: “Looking ahead, the council faces enormous financial challenges and we are preparing for this now. The improved position will provide temporary support in managing the predicted cuts in government funding which may well worsen once the Chancellor has made further budget announcements in July.”

The Cabinet meeting will be held at the Civic Centre on 9 June and if recommended for approval the report will go to Full Council on 23 June for a final decision.