MEMBERS of Neath Port Talbot Council have been given an update on their revenue budget so far in the 2024-25 financial year, with an anticipated overspend of more than £2 million reported as of September 2024.
The meeting which was held on December 4, gave the latest figures to the authority’s cabinet, who met at Port Talbot’s civic offices in order to monitor the council’s spending.
The council’s net revenue budget for the 2024-25 financial year was set at £376 million earlier this year with an overspend of £2.6 million projected as of the end of September 2024.
It comes as the council and others across Wales are currently facing a number of financial pressures on their services, with Neath Port Talbot currently looking to make £8.8 million worth of savings.
Pressure areas reported include home to school transport services, education and leisure, social services, public lighting and car parks, as well as both children’s and elderly residential care.
Those in attendance noted the report which added that it would continue to review expenditure and income to “mitigate the impact of the overall budget overspend.”
A further report was also given on the council’s capital budget for the year which was worth a total of £81.9 million. In it, a number of targeted achievements were listed along with in-year changes to the budget with funds for certain projects pushed in to the next financial year, such as £2 million for the City Deal Homes as Power Stations project, as well as levelling up funds for work at Gnoll Park.
