Hard work continues
While hard work continues across the council to control spending and be as efficient as we can be in all areas of our work, we continue to face significant budget pressures due to a number of factors which are beyond our control. These include pay and price inflation and rising demand for services, particularly in adults and children’s social care.
As well as a current forecast overspend for 2024 to 2025 (the current financial year) of £28.1 million, there is a predicted shortfall in our budget for the year ahead (2025 to 2026) of £18.6 million which has led to the new savings proposals being put forward.
You can find the report on the Cabinet agenda (item 14 – Budget Savings Proposals 2025 to 2026 to 2029 to 2030), which will be discussed on Thursday 9 January. It is proposed that the 2025 to 2026 funding shortfall of £18.6 million will be met from £17.5 million savings options plus £1.1 million of departmental efficiencies.
The significant savings plan for 2024 to 2025 is on track to achieve its target of £31.9 million by the end of this financial year (31 March 25) and will continue to deliver a further £18.9 million of savings in 2025 to 2026.
Many of the new proposals, if it is agreed for them to go forward, will follow their own timescales, with further reports going to Cabinet and consultation taking place as appropriate.
If you have any concerns about details in the report please speak to your manager.