Council budget cuts expected at same time as £10.6m Exeter City Living loan
Exeter City Council is expecting to make net savings of £3.835 million next financial year and reduce its reserves to a minimum despite an increase in central government funding, according to 2023-24 budget proposals to be discussed at January’s executive committee meeting.
Exeter City Living governance review to follow highlighted financial risk
A progress report on the development of the 2023-24 Exeter City Living business plan confirms a governance and management review will take place after an auditor’s report which found that the company had put the council at “significant financial risk” after losing £2.2 million in its first two years of trading.