East Staffordshire Borough Council is pleased to announce that following the Full Council approval in March 2022 to reallocate £0.596m of resources towards the Towns Fund and Regeneration Priorities, the budget for 2022/23 has increased from £12.542m to £13.138m.
Despite significant financial pressures as a result of the Covid-19 pandemic and the current economic conditions, the Council forecasts an increased return on investment, with a forecasted underspend of £0.549m.
Cllr Steve Sankey, Cabinet Member for Finance, Treasury Management and Communications, said: “It is very pleasing to see how well the Council has managed its budgets throughout extremely difficult times, such as the Covid-19 pandemic and the current economic climate.
While the Council forecasts favourable financial results, it is important that we practice caution as we look towards an uncertain and possibly volatile economic future.”
Following a Cabinet meeting on Wednesday 21st September, the Council is also pleased to announce it is currently performing well and is exceeding a large number of its targets. Performance has remained positive with 96.59% of targets being reported as ‘green’, meaning those targets have either been achieved or exceeded. This Council is pleased to see such positive results given the current difficult climate.