A district council has reported an underspend in their budget as a result of careful management.

Cherwell District Council has reported a £0.430m underspend in their budget, which supports key public services in north Oxfordshire.

The council has been prudently monitoring its spend throughout the financial year, in response to the economic challenges faced by many local authorities across the country in the wake of the pandemic.

Read more: Cherwell District Council encourages residents to apply for tax rebate

Savings made during the course of the 2021-2022 financial year mean that, in addition to the underspend, the council has been able to put £0.828m of its backup budget into reserves, giving further financial stability.

Councillor Adam Nell, Portfolio Holder for Finance, said: “I am very pleased with the way that Cherwell District Council has prudently managed and mitigated the challenges of great uncertainty we have been facing in recent years.

“This has helped to keep Cherwell District Council’s portion of the Council Tax as low as possible.

The impact of Covid and uncertainties about the future of the way government funds local government have presented a challenge to councils everywhere.

“But the careful and prudent way we have looked after taxpayers’ money means we are already in a better position than we anticipated.

“We have no doubt that there will be further challenges on the horizon but this sound financial management places us on a firm footing to address them.”

 

Read more from this author

This story was written by Matthew Norman, he joined the team in 2022 as a Facebook community reporter.

Matthew covers Bicester and focuses on finding stories from diverse communities.

Get in touch with him by emailing: Matthew.norman@newsquest.co.uk

Follow him on Twitter: @OxMailMattN1

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