Scarborough Borough Council has found an extra £1.4 million to spend on it's big projects.
As Cabinet member for Corporate Resources, Councillor Janet Jefferson, told the council's cabinet this week the money has come from an underspend on the annual budget and a better than expected income from business rates:
The Borough Council stated:
'Financial monitoring for the 2021/22 year identified that Covid does not appear to have had a hugely detrimental impact on Business Rate income levels to date, and that historic Business Rate growth levels are likely be maintained; resulting in surplus income in the current year.
The quarterly monitoring report to the end of September 2021 (ref 21/205) identified a prudent £870,000 surplus anticipated from business rates income within the current year. In line with earlier years it is proposed that this surplus be utilised to support capital programme expenditure and this report recommends that the £870,000 projected surplus now be committed within the Council’s capital programme.
The Financial Monitoring Report to end September 2021 anticipates a net budgetary revenue budget surplus of at least £959k within the current financial year.
It is considered that £0.5m of this projected surplus can now be prudently committed within the Council’s budget.'
Half a million pounds is coming from an underspend in the council's budget the rest is coming from business rates as The council's Head of Finance, Kelly Metcalfe, told the cabinet this week:


Government Urged to Return Stroke Service to Scarborough Hospital
Scarborough Rainbow Centre Launches £10,000 Christmas Appeal Amidst Rising Family Struggles
North Yorkshire’s Mayor Welcomes ‘Landmark’ Budget and New Tourism Tax Powers
Yorkshire Hosepipe Ban Could Be Lifted in Weeks
More Mopeds, Motorbikes, and Cement Mixers Stolen as Theft Reports Increase on Rural Yorkshire Coast
Bridlington Woman Admits Causing Death of Young Boy’s Parents
Langdale Moor Wildfire Pushed Some Fire Response Times Beyond North Yorkshire Standards
Yorkshire Coast Trio to Run from Big Ben to Flamborough Lighthouse in 4 Days
Scarborough Athletic Draw Blank in Tuesday Outing
Pickering Town Now Five Without A Win After Cup Exit
Driffield Soldier in Japanese Training Mission
Scarborough Theatre Launches Creative Careers Initiative to Nurture Local Talent







Comments
Add a comment