Town Hall hit with over £1m in ‘irrecoverable losses’ due to pandemic
PUBLISHED: 14:35 28 July 2020 | UPDATED: 14:35 28 July 2020
(C) Archant Norfolk 2013
Great Yarmouth Borough Council is facing losses of over £1 million in income due to the coronavirus.
The impact of the pandemic on Town Hall’s balance sheet will be aired by councillors at a meeting on Thursday (July 30) after a report by the authority’s finance director estimated there will be “in the region of £1.1 million irrecoverable income from sales, fees and charges”.
The figure includes income from carparks which were closed during lockdown, as well as money from business rates and council tax which is “slightly below” expectations for this time of year.
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The report also says the council has had to dip into its reserves above the level planned in the current financial year.
It says the impact of Covid-19 is “something that no authority could have expected and therefore the continued lobbying for government support to mitigate the impact continues to be important for the longer-term financial sustainability for local government”.
“It is difficult to accurately project the ongoing financial impact to the authority of Covid 19 from 2021/22 onwards,” the report states.
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