Tuesday, 3 March 2009

£53 Million in reserves



After a little bit of investigation, research and prodding, I was able to extract from officials at St Edmundsbury Borough Council, that they have £53 Million pounds in reserves.

Sorry I need a second to get my breath back……£53 million pounds, well where do we start,:

I was thinking a council tax holiday for a year followed by free parking in the town centre with all local businesses being given rate relief. This would drive up local house prices, with people wanting to move to the area, encourage businesses into the town and finally attract more shoppers with the free parking. This would creating more jobs and higher paid jobs.


How would you spend £53 million in Bury?

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7 comments:

  1. Charlotte Howard4 March 2009 at 11:49

    What you were actually told was:

    "Capital reserve: £43m. (£34m of this is already allocated in the capital programme 2009/10 - 2012/13). See Appendix B of the Budget paper Z541 for detail of planned spend).

    Revenue reserve: £12m. These reserves are created to fund the ongoing maintenance and repairs of council owned buildings or replacement of equipment. See Appendix G of the Budget paper (Z541) for detailed expenditure plans."

    Things are never as simple as they seem...

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  2. St Edmunds Blogger4 March 2009 at 12:01

    SEBC has £53 million in reserves, and as a resident I am disgusted that for the past few years my council tax has been increasing every year.

    And you call yourselves Conservatives?

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  3. St Edmunds Blogger5 March 2009 at 18:43

    no response ?????????????????

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  4. Charlotte Howard5 March 2009 at 18:54

    No council is allowed to spend capital on revenue costs, only the interest on that capital. So it can't be used for your suggestions.

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  5. Anonymous6 March 2009 at 08:08

    Paul Farmer's figures are correct - he got them from the Chief Finance Officer. It does however leave £9 million in reserves. Try thinking of what to spend that money on before SEBC is cremated and a new bigger but not necessarily better council rises from the ashes to spend our money in other parts of Suffolk.

    At present, Paul is relying on a Labour politician from Salford - pronounced 'Solford' for all you southerners - to keep him in his Cabinet post. Hazel Blears MP has a website and blog. Why not write to her to urge the government to 'Save Paul Farmer' from the axe? We need him.

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  6. St Edmunds Blogger6 March 2009 at 08:24

    The worrying problem i find, is that many households in Bury are struggling to make there household budget balance and we have SEBC sitting on several million pounds of reserves, after having increased taxes year on year.

    ReplyDelete
  7. Anonymous6 March 2009 at 15:04

    Could the council use some of its money to get the pavement fixed on Lancaster road?

    ReplyDelete

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