Finances at Market Rasen Town Council appear to be in good health following a report on the council’s budgets at the annual parish meeting last week.
Coun Steve Bunney reported that the council ran at a surplus of £33,362 for the year 2014/15, but this money was being well spent.
He said that the £118,860 the council received in tax had been spent on the town but that work that had been done and was still being done to refurbish the Old Police Station had not yet been paid for, which would come from the surplus.
He added that the council also had £64,390 in earmarked reserves for the modernisation and refurbishment of the Festival Hall and that this was being added to each year so that the council had a substantial amount of money to invest in the facility when a final decision on the best use for the building had been made.
He went on to say that the council held separate reserves of £80,000, more than the average town council, but done as a fallback should anything happen to Festival Hall, which is owned by the town council and was well used.
In particular he highlighted that the structure had an asbestos roof which would be expensive to replace when the time came.
Coun Bunney closed by saying: “We are trying to be more transparent with the money we hold on behalf of the people of Market Rasen.
“These accounts are available to look at at any time, but I hope my report has helped explain where and how the money is being used for the good of the town.”