COUNCIL CONTROLS ITS FINANCES WELL

[Kintyre Forum News]

COUNCIL CONTROLS ITS FINANCES WELL

Argyll and Bute Council has controlled its financial arrangements well over the last 12 months, with overall departmental expenditure coming in £58,000 below budget.

This was achieved by adjusting the budgets for the amounts that are carried forward in the General Fund Reserve, which amounts to £6 million. This money has been earmarked in the General Fund for 2008-09.

Council Leader, Councillor Dick Walsh, said: "In overall terms the General Fund has a balance that is £2 million more than we anticipated when we set the budget in February. This is very welcome news and the Council can now look to the future and consider how best to use this money as part of next years budget."

Income from council tax exceeded budget by £1.4m and savings on loan charges are £1m. This results in a surplus for the year of £2.4m which is carried to the General Fund.