Stafford Borough Council ends latest financial year in the black
Stafford Borough Council has ended the latest financial year in the black – with more than £400,000 available to put into its working balances.
The final outturn position for 2024/25 was presented to cabinet members at their meeting on Thursday (October 16).
A report to the cabinet said: “The budget for 2024/25 was revised as part of the budget report to council on February 11 2025, which set out a forecast transfer to working balances of £0.055m.
“The council’s Net Expenditure (Portfolio Budgets) in relation to the Revenue Budget for 2024/25 financial year was set by the council in January 2024 with a budget requirement of £17.504 million. In determining the 2024/25 budget in February 2024, council approved the forecast outturn for 2024/25 of £18.302 million, an increase of £0.798 million as compared to the original budget.
“The final contribution to working balances was £0.486m – a £0.431 million increase against the budgeted value. This was principally due to additional net investment income and one off additional grants from government.
“The final outturn shows a contribution to working balances to the General Fund of £0.486 million with a resultant £3.393m balance as at the 31 March 2025. As the council policy is to retain a working balance of £1m, the £2.393m above this balance is available to support delivery and council priorities.”
Councillor Ralph Cooke, cabinet member for resources, said: “The council has a balanced budget, as of course required by law. We have no choice in that – we have to have a balanced budget and indeed we have, as our final accounts show.
“While the accounts are still to be audited, no changes in the figures are anticipated that would impact on council taxpayers arising from the audit process.”
Councillor Tony Pearce, cabinet member for climate change, said: “For a budget of £17.5m to come in basically half a million better than we were expecting to I think is a very favourable outcome. I think the team are to be congratulated on what they achieved.”
The authority ended the previous financial year – 2023/24 – with an overspend of almost £800,000. But it also saw £1.4m more in investment income than expected.
