The latest Bradford Council financial position will be discussed at a meeting of the authority’s executive.
It shows a forecast for the whole of the 2011-12 financial year of a £5.7 million underspend, which is a vastly improved picture on the £800,000 overspend predicted in January. The financial figure does include £4.5 million of one-off amounts announced since the beginning of the year. Cuts announced last year led to £44 million needing to be stripped from the Council's operating budget. Individual departments were asked to cut £22.6 million on top of a £21.4 million efficiency drive, Changing Our Council.
After the first quarter an overspend of £9.4 million was projected but this reduced to £7.5 million as the half-year figures were released. Last quarter a massive £6.7 million reduction in the forecast overspend left the authority with just £800,000 needed to balance the books. Now an underspend of £5.7 million is predicted.
A report will be given to the executive on Friday at City Hall at 10.30am.
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