Lincoln council’s finances in ‘better place than many authorities’

Jamie Waller
·2-min read
City Hall, Beaumont Fee, Lincoln
-Credit: (Image: LDRS)


City of Lincoln Council’s leaders have hailed a ‘remarkable’ financial position which is better than many struggling local authorities around the country. The council is expecting to have a surplus in the current 2024/25 financial year, meaning it takes in more money than it spends.

Several costs have come in lower than expected, including housing and borrowing, and they will likely spend £37,000 less than predicted across the year. Many councils are struggling under rising costs and lower government funding, with Nottingham City Council the latest to effectively declare bankruptcy in 2023.

The meeting of the City of Lincoln Council’s Executive on Monday (November 18) said finances were also looking positive for the coming 2025/26 year. However, there were still challenges and pressures on the horizon after that.

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Councillor Rebecca Longbottom (Lab) said: “There are an unprecedented number of local authorities in financial crisis. We can happily say we’re not one of them, and City of Lincoln is financially in a sound place.

“We are managing our resources, even though they’re much reduced.” Leader Councillor Naomi Tweddle (Lab) said: “The government budget cuts have impacted over the last decade, but we’ve managed them well here, difficult as they were.

“It’s remarkable to have surplus, but we can't rest on our laurels - there are always challenges.” Laura Shipley, Financial Services Manager, told the meeting there are “lots of unknowns” beyond 2026.

Councils are expected to have increased spending limits next year under the new government’s plans, but they were still awaiting details. Local authorities will be required to collect food waste that year, and it’s currently unclear how big the bill for that will be.

Lincoln's budget setting process for 2025/26 will begin in the New Year, with residents able to have their say. Lincolnshire County Council announced this week it was currently looking at a deficit of nearly £5m.

The authority - which is responsible for education, roads and social care across the county - says it is looking at ways to minimise costs, and will be able to use savings to balance the books if necessary. All other district councils in Lincolnshire have a small surplus or are breaking even with the exception of South Holland, which is currently overspending by £67,000.

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