SMDC Forecast 1.8 Million Pounds Overspend
For a while now, we've seen the financial stability of our local councils in jeopardy.
This week, SMDC released their forecast for 2026/27 based on the results of the first quarter so far and are predicting an overspend of £1,832,580.
To reduce this, they plan to use the Council’s earmarked reserves and decrease external funding, which means they are effectively forecasting a deficit of £929,300.
You can read the full document here:
Our biggest concern at COGNEWS is the development of our market/market square, the development of our leisure centre, and the five purposes still to be developed at Churchill Road Recreation Ground.
Deputy Opposition Group Leader Cllr James Aberley told COGNEWS "Just 3 years ago, the Labour group were campaigning in Cheadle telling everyone that the council was hoarding over £4m of money it would never spend. Fast forward three years and the council is facing significant financial challenges; our reserves are gone, our residents are paying more and more council tax, extra fees for bins, and what have they seen for the cost? Unfinished projects, nothing delivered for Cheadle except buying the market with money that the Conservative group had already put aside in 2022, and a string of broken promises. We are beyond disappointed that our strong financial legacy has been completely destroyed by this Labour/Independent coalition."
SMDC Forecast 1.8 Million Pounds Overspend
