Goole Town Council reveal significant financial loss

Emily Collins
June 1, 2022

Goole Town Council has revealed that it has made a financial loss due to the unpredictable nature of the current economic climate.

During the council meeting on Thursday, May 19, it was revealed that during the 2021/22 financial year, the council has made a loss of £36,978, against a budgeted profit of £2,925. It was also revealed that the year end projection was originally estimated to be a loss of £77,586, however this was reduced significantly thanks to an ERYC underspend and a £36,000 cash boost towards a specific Arts project, which the council was able to place into reserves.

Speaking during the meeting, deputy town clerk and responsible finance officer, Stacey Norfolk said: “Unfortunately when we set the budget for the year, we were not able to predict that the situation in Ukraine, or the cost of living crisis and rising energy bills, was going to unfold. Unfortunately when the budget was set for this year, we did not know that either, so we are now also expecting a loss for this year too. “This means that the council is going to have to cut spending this year. I know that there are really important projects that the councillors are wanting to work on however we are going to have to be really careful.”

It was also revealed that Covid has continued to impact finances in the last financial year, as the council has been unable to open it’s arts venue, Junction, to full capacity for the majority of the year. In the council’s Annual Income and Expenditure report it said: “Covid 19 has still had a significant impact on the 2021/22 financial year as Junction did not re-open until June 2021 with seats limited to 66. In August that capacity increased to 108, but we did not resume any of the adult evening groups until September 21. “In October limits were increased to 123 of the 167 seats available and it wasn’t until November that all restrictions were lifted. We are still not back to pre Covid audience numbers as there is still and amount of apprehension visiting indoor venues.” During the meeting councillors shared their disappointment at the prospect of needing to cut back on projects this year, however they agreed that limiting spending would be worth it in the long run to keep losses to a minimum.

Goole Town Council has revealed it has made a significant financial loss this year. (13-01-72 SU)

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