Neath Port Talbot Council has some good news! They’ve managed a £2.1m underspend on their budget for the 2024-25 financial year, thanks to a net revenue budget of £376.5m. This pleasant surprise was mainly due to unexpected grants from the Welsh Government. But, don’t break out the party hats just yet! There were still overspends in areas like home to school transport and children’s social work, hitting nearly £1m combined.
At a recent meeting, councillors shared their excitement for managing to stay within budget despite pressures other councils are facing. Councillor Alun Llewelyn applauded the council for their fiscal discipline, saying it’s a win on a professional level to end the year balanced.
The leftover £2.1m savings will be put to good use, with £382k going into specific reserves for future expenses and £1.74m stashed away in the contingency reserve. Overall, reserves wrapped up the financial year with a healthy £61.4m.
While budget management was commendable, Audit Wales had earlier noted areas for improvement regarding value for money in commissioning services. The council is already on it, developing a new procurement strategy to ensure smarter spending moving forward.
Capital projects didn’t lag behind either. The council spent £62.2m on various improvements, including waste fleet relocation and school maintenance – achieving 95% of their planned programme.
What do you make of these financial moves by Neath Port Talbot Council? Let us know in the comments!