Bolton Council's £18 million 'underspend' earmarked for projects
11:58am Friday 16th August 2013 in News
FINANCE chiefs at Bolton Council say an “underspend” of almost £18 million has been earmarked for other projects.
Figures revealed in the authority’s annual accounts show the authority still had £17.9 million left over from its 2012/13 accounts.
But the figure includes cash put aside “over a number of years” to pay equal pay claims.
Equal pay settlements were paid out by local authorities around the country to women who had traditionally not been eligible for productivity bonuses in the past.
But Bolton’s settlement was not as high as first thought and the leftover cash, as well as other savings resulting from savings on vacant posts and reduced spending on premises and supply budgets, were earmarked for major infrastructure projects such as roadworks, new energy saving street lighting and town centre improvements.
Council finance chief and deputy chief executive Steve Arnfield said: “It’s actually good financial management.
“Things such as energy saving lighting and the town hall refurbishment will save us money in the long run.”
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