Financial report points to economic recovery
PR2438/MF/JAE - 14/06/2022
The latest financial outturn report for Mid Sussex District Council contains ‘positive signs of economic recovery’ according to Council Leader, Councillor Jonathan Ash-Edwards.
The Covid-19 pandemic continues to place significant financial pressure on local government finances. However, Mid Sussex District Council Cabinet met on Monday 6 June to consider the outturn position for the 2021/22 Mid Sussex District Council budget and the Council’s year-end financial position is much better than was forecast in February this year.
Increased recovery in income levels was the main contributor to the improved financial position, resulting in savings of £385,000 against the budget. Council wide salary savings amounted to a further £93,000.
Councillor Jonathan Ash-Edwards, Leader of Mid Sussex District Council said:
“It’s tremendously encouraging to see Council’s finances improving as we look to bounce back strongly from effects of the Coronavirus pandemic.
“During the pandemic, the Council has used reserves to balance its budget and support our leisure centres while they operated below capacity. This has had a significant financial impact but was the right thing to do to support local services and put our residents first.
“Council Tax represents just 17% of District Council’s budget and so we are reliant on income from service fees and commercial rents to fund most of our local services. It’s great to see those income levels increasing.
“This is a positive sign of economic recovery in Mid Sussex as a whole and we’ll continue to do everything we can do support the resurgence in our local economy”.