Labour controlled Glasgow DC has ended its financial year with a£15m revenue surplus, the Scotsman reports (August...
Labour controlled Glasgow DC has ended its financial year with a £15m revenue surplus, the Scotsman reports (August 27, p4).
The financial director, William English, reported that reserves have doubled to £30m in the unaudited accounts for the year ending March 1993.
Mr English said a drop in debt charges caused by falling interest rates was a major factor in the underspend. The surplus would be taken into account when the council came to set next year's council tax, he said.
In January last year the original budget forecast for 1992-93 estimated a deficit of £2m. The council has a budget of £670m this year. ends