Good news for Leighton-Linslade Town Council as 'prudent financial management' keeps it 'financially boyant'

The town council “remains financially buoyant”, according to an end of (financial) year report to a town council meeting. “The general fund is healthy sitting at £1,011,412,” explained the report.

“But this position will change in the coming months as town council objectives for 2024 to 2029 are partially realised. Should LLTC decide to move into the implementation stages thereafter, professional fees will also need to be met from the general fund.”

The report recommends to the council “to retain the 2024/25 surplus of £85,979 in the general reserve fund, less a sum of £8,804 generated by the teenage advice and information centre (TACTIC) to be added to the TACTIC earmarked reserve.

“This would mean that £76,993 (£85,797 less £8,804) would rest within the general fund. This report has a number of purposes to provide members with a position on the way the budget has performed.

“Through prudent financial management, the town council once again finds itself in the privileged position in having a budgetary surplus. This year’s annual surplus runs to £85,979.

“While this figure is lower than last year’s surplus of £112,320, it remains a positive outturn. The general fund available to meet future running costs has risen from £925,434 last year to £1,011,412 for 2025.

“However, it’s anticipated that £250,000 will be drawn down to meet the anticipated capital purchase in the coming months through town council objectives) for 2024 to 2029.

“Earmarked reserves remain buoyant rising from £1,217,545 in 2024 to £1,247,337, which represents a net increase of £29,792. Given their standing, there’s no reason to seek to ‘top up’ any of the earmarked reserves presently.”

Legislation requires a council to prepare accounting statements for each financial year, which must be externally audited, said the report.

“This is currently undertaken by sector provider Mazars LLP (smaller authorities external audit team). Its statutory role is to provide an independent opinion on the council’s annual accounting statements.

“It’s the council’s duty to consider and formally approve its statement of accounts by the end of June. After LLTC has approved its accounting statements and annual governance statement formally, the annual return can be submitted to the external auditor.

“By September 30, the council must publish its accounting statements with the external auditor’s certificate confirming the audit has been completed and any opinion or report given on the council’s annual accounting statements.”