Council will look at projects for cash surplus
PUBLISHED: 13:00 15 May 2012
Ottery Town Council vowed to look at ways of spending its cash surplus after admitting it had enjoyed a ‘rather prudent year’.
At last month’s Annual Parish meeting it was revealed more than £40,000 had been saved in the financial year.
This was up £6,000 on the previous 12 months, meaning a combined total of £80,000 has been accumulated by the Town Council since 2010.
Robin Mitchell, who has been the treasurer for the past few months, said there were various projects the councillors will now be discussing as possible uses for some of the money, including at the land they own at Strawberry Lane.
Cllr Mitchell said they had been tight with its finances because a year ago the economic outlook was very bad, and the council wanted to be within its expenditure.
He confirmed with a precept of £137,000, and income from office letting at the Old Convent, revenue from the Tourist Information Centre and Section 106 money, the total council income was £250,000 for 2011/12.
Its expenditure for the year was £191,000, meaning a surplus of £58,000.
But once money being held for projects such as the skatepark and the Diamond Jubilee celebrations was taken into account, the figure would be reduced to £43,000.
Mayor Glyn Dobson has previously defended the council’s prudence, saying its ability to save cash each year meant it did not have to ask for a rise in the precept from the district council.