When news happens, text SDE and your photos or videos to 80360. Or contact us by email and phone.
Fareham Council needs to find £800,000 of savings
4:33pm Tuesday 8th October 2013 in News
A HAMPSHIRE council needs to find “significant” savings to meet a budget shortfall of £800,000.
Fareham Borough Council said it would be considering a jobs “restructure” alongside reducing service costs to make up the shortfall.
The announcement follows an internal report on its financial strategy, which looked at estimates of the council's income and spending for the next five years and highlighted the problem.
The council said the shortfall had been caused by factors including the on-going reduction in Government funding, inflation and low interest rates on its investments.
Budgets across the council will now have to be reviewed, aimed at reducing our costs by £800,000 by April 2015.
This review will be completed by spring next year in order to provide sufficient time to make the savings by the following year.
A spokesman said the council will consider ways of reducing spending by making efficiency savings, and reducing the costs of its services, but it will also have to consider a restructure of jobs.
Fareham Borough Council received £4m this year from Central government, which has fallen from £6.2m in 2010.
In the next two years, the council expects this to drop by another £1m.
But it said it had chosen not to pass these reductions on to residents, but had frozen council tax and focus on being efficient.
Executive Leader of Fareham Borough Council, Cllr Seán Woodward, said: “The Council has had to take some tough decisions since the recession started in 2008.
“Despite stories of 'economic recovery' in the national media, the unfortunate reality is that councils still have to find further savings over the next few years as a result of Government cutbacks and Fareham is no exception.
“Our focus will continue to be maintaining the services that mater to customers and increasing levels of customer satisfaction.”
Comments are closed on this article.