Lancashire raids £82m from reserves

By Hiba Mahamadi | 09 August 2017

Lancashire CC’s £23m underspend in the last financial year conceals a potential £83m overspend, a report to senior councillors has warned.

The report compiled by the council’s director of financial resources, Neil Kissock, noted that, although the council had a £23.1m underspend at the end of the financial year 2016/17, this was only because it drew on its reserves and made treasury management gains.

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