COUNCIL Have Millions To Invest In One-Off Projects
INVERCLYDE Council is to consider proposals to invest an additional £9million as part of the forthcoming budget.
The council says the extra money is available because of “ongoing prudent financial management” and “efficiencies being achieved earlier than anticipated.”
It adds that the council’s well-managed financial strategy was recently recognised as an example of good practice for other local authorities by Audit Scotland.
The surplus will be invested in a series of one-off projects to be agreed at a Special Full Council meeting on Thursday 9 February.
The Corporate Management Team has put forward a number of recommendations including £3million to support the 2012/15 Capital Programme, £1million for the refurbishment of the Watt Complex in Greenock and a further contribution of £300,000 towards the building of a new Inverkip Community facility.
Councillors will be told the council has a head start in dealing with the significant financial pressure it will face over the next two-year budget covering 2013/15, and that the strategy of setting two-year budgets has proven successful in terms of both financial and workforce planning.
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