City finances 'going in right direction'

COUNCIL PREDICTING £3M UNDERSPEND BY END OF FINANCIAL YEAR

- By JOE LOCKER Local democracy reporter

NOTTINGHAM City Council's finances are heading in the "right direction" despite the continued use of emergency support measures, its deputy leader has said.

The Labour-led authority, which was declared effectively bankrupt in November 2023 is now expecting to have £3m left over once all expenditure in its day-to-day services is accounted for by the end of the financial year.

Councillor Ethan Radford (Lab), the authority's deputy and executive member for finance, says this points to "positive" financial performance following years of overspending.

A report was presented to an Executive Board meeting on Tuesday on the council's current financial position. It shows a forecasted underspend of £3m following the city's positive quarter one financial performance and the overall financial position of the council is going in the right direction," Councillor Radford said.