Martin Ford 16 August 2023

Reserves 'critical' at Middlesbrough

Reserves critical at Middlesbrough image
Image: Tendo / Shutterstock.com.

‘Critically low’ levels of reserves have left Middlesbrough Council in danger of issuing a section 114 notice.

Middlesbrough is predicted to overspend its budget by almost £12m by the end of the financial year, according to a report to senior councillors.

The report called for ‘early and robust management actions’.

With usable reserves at what was described by officers as a ‘critically low level’ of £15m, the report concluded that a s114 would have to be issued if the gap cannot be closed.

To continue reading visit The MJ (£).

If this article was of interest, then check out our feature, 'Preventing future Section 114 notices'.

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