Tuesday 30 July 2019

NELC FINANCE DIRECTOR'S 'FINANCIAL STABILITY' PLEA AS £3-2-MILLION OVERSPEND IS REVEALED


A TOT-up of NELC's finances has revealed a likely overspend of £3.2-million over the 2018-19 financial year.



In a report to councillors, Director of Resources and Governance Sharon Wroot says: "Budgets have come under pressure from a range of frontline services including well-document challenges to social services."



She continues: "It is increasingly important that focus remains on establishing a longer-term approach to financial stability."



The council's general reserve fund - so-called 'rainy day money' - currently stands at £8.3-million.

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