Harlow Council set to “overspend” close to a million pounds

Business / Mon 7th Mar 2022 am31 07:15am

HARLOW Council has revealed that they have had close to a million pound shortfall on rent due to Covid.

The information was revealed at a Cabinet meeting on Thursday night.

Portfolio Holder for Finance, James Leppard released that three main areas were

  1. Modus
  2. Nexus
  3. Car Parks

Councillor Leppard said: The report presented for Q3 highlights that the forecast pressure on the General Fund has increased from £252,000 at Q2 to £952,000.

“The pressures are largely related to the economic impacts of the Covid pandemic and are especially evident in relation to the Councils developments at the Harlow Innovation Park, the wider commercial property portfolio and car parking.

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5 Comments for Harlow Council set to “overspend” close to a million pounds:

2022-03-07 09:49:35

Nothing spent on something for youngsters asuall

2022-03-07 11:41:03

Perhaps hggt pfp can donate the price of two of the 10000 executive properties they intend to build. 0.02 %

Neil Warner-Baker
2022-03-07 14:19:17

What's on everybody's Lips is ...has the Conservative administration got its sums wrong? And was the Council Tax cut that was announced with such Fanfare a triffle premature?

James Leppard
2022-03-07 16:57:18

Neil Warner-Baker, not at all. The forecast is based on the Q3 forecasts as at end December 2021. The Council, with full cross-party support, had previously established a £ 1.5 m special reserve for expected COVID impacts. If you listen to the full video, you will hear about this along with the fact that rentals in Nexus and Modus, which were delayed during the pandemic have since been concluded, so that the likely 'overspend' will most likely be reduced. All of this was contemplated and considered when calculating the Council Tax reduction.

Pauline S
2022-03-10 11:39:03

Can't hear the video - too quiet!

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