
Five-year financial plan for sustainable future
A five-year financial plan is being set to put Dudley ahead of most councils throughout the country, the leader of the authority said today. It will be a future that 'encourages the annual growth of reserves and protects services for residents.'
Ahead of budget setting later this month, council leader Councillor Patrick Harley, said the plan is designed to ensure the council remains financially sustainable for the next five years.
The five-year financial strategy will go before cabinet and full council this month.
Councillor Patrick Harley, leader of Dudley Council, said:
“Like so many authorities across the country we have faced unprecedented challenges to our finances but have had to make some very tough decisions to balance the books.
"But rather than just plan for one year, we want to ensure the council remains sustainable for the next five years. There will not be many councils throughout the UK that can achieve this in the current climate.
“We have moved away from the threat of bankruptcy by making difficult decisions now, which is improving our position for the long term.
"We are answering criticism from The Local Government Peer Review and CIPFA reports and can not only set a legal budget, but one which adds to reserves, not just for one year but for the next five.
"We are committed to delivering essential high-quality services our residents can rely on, as well as protecting services we know are important to people, such as libraries, leisure centres, halls, and family hubs.
"The number of libraries, town halls and leisure centres that could close throughout English councils is large.
"Thankfully, thanks to the decisions taken, all our libraries, family hubs, leisure centres and town halls are safe.”
The budget proposals, which include £42million of savings and a 4.99 per cent council tax increase, will go to cabinet on February 12 before being formally determined by full council on February 24.