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Harrow Borough Council will work to break-even says leader Thaya Idaikkadar after latest budget figures
The leader of Harrow Borough Council says the authority will work to break even over the next nine months, despite a projected £2million overspend.
The comments come after the Labour group attacked the Independent Labour administration at Harrow Borough Council for its handling of the authority's finances since it took control.
Figures show Harrow Council is projected to exceed its budget for the 2013/2014 year by £2.2million, which the Labour group says follows a £10.8m underspend for the last financial year.
In response to Labour’s claims, council leader Councillor Thaya Idaikkadar said: “To be clear, the £10.8million that was set aside at the end of 2012/13 is still being used in a sensible and prudent manner and has no bearing on this year’s financial position.
“It was used to strengthen the council’s reserves and invested in important projects.
“One million pounds of this money has been put into the council’s reserve fund, while nearly £5million is being invested in efficiency measures that will deliver savings in future years.
“£3.268million has been earmarked for projects deferred from last year to this – not unlike a household which decides to allocate money for a car but then waits until the next financial year to spend it.
“As was the case this time last year, the council is forecasting an overspend for the financial year.
“The estimated overspend is due in the main to the late delivery of a number of previously-agreed savings, for example the pause in the PRISM restructure.
“Just as we did last year, the council is working towards returning to a break-even position in the next nine months and what really matters is where we are in April 2014.”
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