Council reports £1.25m budget overspend

Bracknell Forest Council covered the overspend from its general reserves

A local authority has reported a £1.25m budget overspend for the past year.

In February 2023, Bracknell Forest Council (BFC) approved a budget of about £89m for the 2023/24 financial year.

The eventual overspend was taken from the authority's general reserves - which are funds held without any specific purpose.

The council blamed the unexpected spending on "increases in demand-led pressures" and the "continuing impact of high inflation".

A financial report, which was produced ahead of a council meeting on Tuesday, said: “The council continues to face ongoing financial pressures and uncertainty due to delay in the introduction of a new funding system by central government.”

It said spending in education, learning and adult social care had been particularly high.

Staffing for special educational needs provisions and spending on education transport also came in over-budget.

During the past year, the authority had warned of spending £4m more than their budget - prompting them to cut costs until the predicted figure was between £1.25m and £2m.

The final overspend had been a "significant improvement" from the previous predictions, the report emphasised.

It is the first time the council has reported an overspend since being established as a unitary authority in 1998.

The report also highlighted its financial situation had been “mirrored in its neighbouring authorities in Berkshire, all of whom are reporting overspends".