Cannock Chase District Council ends latest financial year with £800k underspend

Cannock Chase District Council ended the latest financial year with an £800,000 underspend on its budget, it has been revealed.

The “favourable variance” seen in the outturn figures for 2025/26 comes as up to £799,000 is to be earmarked for resurfacing of the Beecroft Road car park, following a “technical adjustment” in costs relating to Levelling Up work.

Members of the council’s cabinet received the financial outturn report at their meeting on Thursday (August 20). The report said: “There was a write-off of previously capitalised costs as the Levelling Up programme scope was modified.

“This was a technical adjustment, moving capital costs to be funded from revenue and didn’t change the total amount spent to date. This has resulted in a revenue balance being available for the delivery of the regeneration programme of £0.799m, which is currently held in a regeneration reserve.

“The portfolio outturn for 2025/26 shows a favourable variance of £0.804m. Investment income in year has increased by £0.154m as compared to the revised budget.

“Interest rates remained higher for longer than anticipated, giving an additional gross investment income above budget of £0.128m. The budget also assumed an amount in relation to interest on balances held by the authority in relation to repayable grants; due to spend during 2025/26 the actual cost was £0.023m lower than anticipated.”

But income from the Business Rates Retention Scheme was £61,000 lower than anticipated, the report added. The authority also saw a £19,000 reduction in income from parking penalty charges and £7,000 from general parking income, as well as a £5,000 reduction in licensing income.

There was £75,000 additional income from public buildings however, and £20,000 additional election room hire income from the Civic Ballroom. Lower telephone costs due to conversion of circuits to wi-fi saw a £36,000 reduction in CCTV spending.

The report said: “Overall income levels were £1.136m higher than the revised budget. Development control, building control, public buildings, cemeteries, grounds maintenance and local taxation all showed additional income.

“The outturn shows a contribution to working balances on the general fund of £0.4m, with a resultant £2.878m balance as at the 31 March 2026. As the council policy is to retain a working balance of £1m, the £1.878m above this balance will be available to support future budgets.”