Somerset County Council projected to overspend £12m
PUBLISHED: 18:00 11 July 2018
The leader of Somerset County Council has admitted the authority is in a ‘difficult’ financial position after a projected £12million overspend was revealed.
Its cabinet received an update on finances and projected budget pressures for the rest of the financial year.
Council leader David Fothergill confirmed work is underway to make sure the authority lives within its means.
He said: “It’s a difficult position and one that is getting a proportionate and immediate response.
“We have to reduce overspends and make savings and we are getting to grips with this, achieving financial stability is our overriding priority and it has never been harder.”
The revenue report projected overspends of £12million, a considerable proportion of which is in children’s services.
The cabinet has agreed to transfer £5million from its contingency funds to the children’s budget to ease pressure.