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Who stashed the cash?
THE council has £67-million sitting in its “general reserve”.
Finance chiefs reported a £67 million surplus – £50 million more than was previously thought.
They revealed huge and unexpected profits from parking revenue, social housing and licensing amounting to more than £10 million for 2006/07.
Opposition leader Councillor Paul Dimoldenberg, leader of the Labour group said: “The Conservatives have even been threatening a 30 per cent council tax increase and to slash services by a third because they say that the population figures are incorrect. Now that these claims have been shown to be totally bogus it is essential that the council uses some of the £67 million of council tax payers’ money lying idle to improve local services for those most in need.”
But Nick Bell, director of finance, said the council faced “significant financial risks”.
He said: “There are a number of uncertainties about future funding, including the impact of the Comprehensive Spending Review and changes in the government’s population methodology.” |
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