£83,000 taken from reserves pending grant repayments

A total of £83,000 is being taken from Newtown Town Council's general reserves to keep four grant-funded projects moving while the authority waits to recover the money.

The temporary budget support includes £30,000 for a scheme aimed at attracting young people and £20,000 for a town-centre project.

Another £20,000 will fund signage promoting Newtown, with £13,000 allocated to implementing the town’s tourism strategy.

Councillors approved the four transfers at their meeting on Monday, July 27.

A report from the Responsible Financial Officer said the full £83,000 was available as grant income—but only after the council had incurred the expenditure.

The move authorises spending beyond the projects’ current budgets until reimbursement is received.

The young people and town centre projects fall under the Strategy and Corporate Projects Committee. The signage and tourism work will be overseen by the Economy and Environment Committee.

The report did not name the grant providers, give repayment dates or state how much would remain in the authority’s general reserves after the transfers.

All four allocations were approved without any recorded amendments.