City council confirms £3.2m financial hole has been filled

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City council confirms £3.2m financial hole has been filled
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The announcement comes ahead of a council budget meeting next week

Nottingham City Council has confirmed a remaining gap in its budget of around £3million next year has been filled and the authority will not need to find any extra savings. The council revealed last December that it was making savings of around £29m, with plans including the axing of 110 council jobs an an increase in council tax of 4.99%.

But ahead of that meeting next Tuesday , the council said the remaining £3.2m gap has been closed. In papers to be presented at the meeting, the authority said that the Government's latest funding settlement and the latest projections around business rates both mean a net increase of £11.2m compared to the situation presented in December.

"Other pressures, including vastly diminished Government grants over the last 13 years, have also made this another challenging year to set next year’s budget and a four-year financial plan. With ongoing issues of social care funding, local taxpayers face an additional cost on their council tax bills and we have no real choice but to set the 4.99% council tax allowed by Government, which includes a supplement to help towards the increasing costs and demand for adult social care.

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