Exeter City Council will have to make net savings of £3.835 million next year and reduce its reserves to a minimum despite an increase in central government funding according to its 2023-24 budget proposals.
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.
Exeter City Council announces £1.584m April budget shortfall caused by COVID-19 restrictions
Council revenues have fallen dramatically during the coronavirus pandemic, prompting a £6.357 million capital spending deferment. But financial support from government has so far been limited.
