Move for Powys County Council to find another £47 million savings
Councillors were today expected to confirm that they must find £47 million more in funding cuts by 2020.
The meeting, at County Hall, Llandrindod Wells, was also due to be told that the council underspent by £282,000 in the last year.
Councillor Wynne Jones, cabinet member for finance, said: "We set ourselves a target of saving of more than £17 million during the year and have succeeded in delivering £14 million – 80 per cent of target – slightly down on the savings percentage for the last financial year.
"The remaining 20 per cent which was not achieved will be carried forward and will have to be delivered in the year 2015/16, along with the identified additional savings.
"The situation going forward continues to look difficult with the council looking to deliver at least a further £47 million savings through to 2020 to deliver a balanced budget.
"Because of the difficulty of the ongoing financial situation we have taken the opportunity to capitalise £1.7 million revenue which allows the council to set up a £2 million budget management reserve to assist with the difficult budget position going forward.
"The outcome shows how difficult it is to meet these ongoing targets, but with a new Government in place, with a clear mandate for continued austerity, it is clear that the cuts to public spending will continue."
