A huge overspend of £8.6 million is forecast for Buckinghamshire Council, according to a bleak update on its financial future, according to Bucks Free Press. A major rethink on how £24.335 million will be spent in the county has been approved with funds for projects such as the Aylesbury Link Road, High street investments, and cycling infrastructure being called into question.
Buckinghamshire Council will remove £24.335 million from its current budget and instead channel the money into “future years”. As part of the move, a total of £11.815m earmarked for the South East Aylesbury Link Road will now be diverted into future budgets, the largest single pot of cash being taken out of the 2023/24 budget.
The delivery of the project, which has been under “significant financial pressure” is delayed due to “funding negotiations with HS2 and Homes England, which are now resolved”, the council said.
The “reprofiling” of sections of this year’s budget was approved by Cabinet members this week. The decision will also see £1.45m of unallocated funding for primary school places be reprofiled into future years.
The report agreed by Cabinet read: “Capital Programme needs to be reprofiled to accurately reflect planned spend. This is to ensure that the programme remains realistic and deliverable and reflects the latest project timelines. The 23-24 budget before reprofiling is £149.3m. It is recommended that £24.335m (16 per cent) is reprofiled from the current year into future years, to match the latest delivery projections.”
Image source: LDRS
