Draw on reserves ‘cannot continue’, says chairman

Charley-Kai John September 23, 2020 0

Draw on reserves ‘cannot continue’, says chairman

The SIC cannot continue to draw more on its reserves, according to the audit committee chairman.

Allison Duncan was speaking at a meeting on Wednesday, highlighting that the council drew on £21.72m of reserves in 2019/20, which was £6.41m more than the previous financial year.

Mr Duncan said: “I do not want to see us drifting back to the bad old days of 2010.”

The committee approved its annual audit report on the 2019/20 audit at the meeting.

The meeting also highlighted the significant impact that coronavirus had on the council’s finances.

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