Category finance

New figures show Council’s finances in strong position

Positive financial results and a major boost to reserves have put Somerset County Council in a strong position to cope with the coronavirus crisis. In the last financial year, Somerset County Council increased its reserves to £76.2m across the board and delivered efficiencies and cost-cutting measures that enabled a £6.4m underspend. It comes as councils […]

County Council steps up to support Somerset in time of need

Somerset County Council is stepping up operations to support Somerset’s communities and keep people safe during the coronavirus emergency. The County Council will be increasing spending in several key areas in response to the pandemic. This includes expected spending of in excess of £10m for vital personal protective equipment (PPE) needed by carers, social workers […]

Budget plans set out thriving and ambitious future for Council

New schools, investment in roads, a boost to local jobs and a dramatically improved financial outlook on a year ago were outlined by Somerset county councillors today. As well as the investment in services, there was a repeated commitment to no further frontline job cuts at the Council’s Cabinet meeting. Monday’s (10 February), Cabinet agreed […]

Money

Somerset’s financial position strengthened

Somerset County Council today reported a substantially improved financial position in its end of year financial report. A combination of extra one-off funding, technical adjustments and savings mean the council has been able to increase its levels of general reserves by £4.2m to what is considered a prudent level for an authority this size – […]

Money

Sustainability a top priority as County Council agrees budget plans

Somerset County Council today approved a budget and financial plan that paves the way for medium-term financial sustainability. The plans see £780m spent on services in the county next year and a 2.99 percent increase in the County Council’s element of Council Tax. Along with a government approved additional one per cent increase ring-fenced for […]