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Newcastle City Council's soaring reserves

March 17, 2017 12:24 PM

Labour shot down the Liberal Democrats attempt to relieve their cuts to services by using reserves. Here's how the City Council has been hoarding cash.

1 - Actual reserves at 31.3.13 were £55.8m and in the report to City council in March 14 were predicted to be £50.7m as at 31.3.14

2. Actual at 31.3.14 was not the £50.7m predicted but £81.0m - over £30m more than predicted just a few weeks before! Prediction for 31.3.15 was £66.9m

3 - Actual at 31.3.15 was not the £66.9m predicted but £101.5m - £34.6m more than predicted just a few weeks before! Prediction for 31.3.16 was £91.9m

4 - Actual at 31.3.16 was not the £91.9m predicted but £106.3m - £14.4m more than predicted just a few weeks before. Prediction for 31.3.17 is £106.8m but we believe the actual will be greater.