Strong financial planning ensures balanced budget

 

Strong financial planning and maintaining a firm hold on Croydon’s finances has put the council in a strong position to continue delivering a balanced budget for the next three years.

In the face of very significant continued reductions to its funding from central government, the council has been able to keep a firm hold on its finances, balancing the budget for the last two years and developing a robust plan to enable it to continue to deliver value for money services for residents.

A report detailing how the required savings will be made over the next three years, while protecting key front line services, delivering its ambitious programme and continuing to invest in the borough through the delivery of important projects such as the £30m refurbishment of Fairfield Halls and the building of a new £25m leisure centre in New Addington as well as building much needed new houses and schools, is to be presented at cabinet on Monday.

The council has already delivered over £100m in efficiency savings. Further budget saving proposals include continued better use of technology to provide better value for money and the leasing of further space in Bernard Weatherill House to the Home Office and the Department for Work and Pensions (DWP).

Part of the ground and first floor of the council’s headquarters will also be leased to the DWP, as part of the relocation of the Jobcentre Plus from Dingwall Road to the council offices as part of the DWP’s strategy to merge small facilities into larger offices.

The co-locating will ensure the council’s Gateway services – which aim to provide early support and intervention to prevent the development of more complex issues – and Croydon Works – a job brokerage scheme set up by the council and stakeholders – work in partnership with Jobcentre Plus to support residents seeking employment or who are trying to upskill and progress in their careers.

Councillor Simon Hall, cabinet member for finance and treasury

“Croydon may be an outer London borough, but it is one of the largest boroughs in London and faces challenges more commonly seen in inner London.

“The council’s firm hold on Croydon’s finances has put it in a strong position financially to enable it to continue making savings while investing in the borough and protecting key front line services. We will continue to lobby the government for fairer funding for Croydon, so it can continue to deliver value for money services that our residents need and deserve.”

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