Nottingham City Council still predicts a financial black hole of £23 million for the coming financial year
Nottingham City Council remains at "high risk" of being unable to balance its books as it tries to get extra government support worth up to £35 million. Council tax is set to go up by at least the maximum 5% allowed, but there remains a possibility of the charge going up by as much as 10%.
Should Nottingham City Council have managed its finances better over the last 10 years? Let us know here The predicted budget gap for the coming year comes despite the council having already set out plans to make cuts and savings worth £18 million. With few options left, the council is turning again to the government for exceptional financial support .
If it does not, it is uncertain how the council would be able to set a balanced budget. A council unable to set a balanced budget issues a Section 114 notice, effectively declaring bankruptcy.
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