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The stark reality of the financial situation at Wokingham borough council was highlighted at last week’s meeting of its executive committee.
As part of a discussion focusing on revenue monitoring in the first quarter of the year, council officers were said to be attempting to find £8 million of previously unidentified savings during this financial year.
Cllr Imogen Shepherd-Dubey, executive councillor for finance and governance, introduced the report.
She said: “This report reflects the difficulties that we as a council are dealing with this year., due to the current government increasing their share of our business rates to 94%, and reducing our grants overall.
“Our baseline funding has fallen by £20 million per annum. This represents the most significant and adverse funding settlement this council has ever received.
“With this challenge in mind, our officers are trying to find at least £8 million of unidentified savings and efficiencies in this year’s revenue budget.
“All of our areas are predicting overspends at this point in the year – however there is still plenty of time to try and recover this, but certainly, if our General Fund Balance stays at the currently predicted £6.8 million at the end of this year, we will be looking at having to take strong actions to avoid insolvency.
“I must stress that our officers are working hard to avoid this situation.
“The General Fund balance is held to provide a general contingency for unavoidable or unforeseen expenditure as well as providing some stability for longer term planning, particularly in uncertain economic times.
“Our priorities will always be supporting those with the most need – with children, the elderly and disabled being of priority.
“Some of our projects will help us become more stable in future.”
Cllr Stephen Conway, leader of the council, acknowledged the scale of the challenge but expressed confidence that the council would continue to manage its financial position responsibly while protecting services for residents.
The executive noted the contents of the report.
Notes to the report reported how population growth and complexity are expected to continue increasing, representing a more significant rise than seen in previous years, building on the pressures experienced in 2025/26 and now resulting in a predicted overspend of £1.5 million on adult social care.
In children’s services, population growth and complexity are also expected to continue increasing, representing a more significant rise than seen in previous years, building on the pressures experienced in 2025/26, and now resulting in a predicted overspend of £1.5 million
The resources and assets directorate reported an overspend of £140,000 in quarter one, made up of delays to the contract at Cantley Park, increased operational and void costs for corporate property and fraud investigation service costs.
Work is on-going to review these costs throughout the financial year, the report noted.
