A £4 MILLION ‘black hole’ in the budget of Winchester City Council is looming, a meeting heard.
Council officers have drawn up a forecast that shows by 2019-20 the city council could have a deficit of more than £4m.
But a report said the forecast did not include potential increases in income from council tax, planning fees, property rents or car parking which has grown over the last 18 months and now makes up 20 per cent of civic income.
Cllr Steven Godfrey said: “It has been a good couple of years for the authority’s finances. There is a forecast gap of £4.2 m which will be difficult to close. We need to start now to make sure we can deliver in four or five years a balanced budget.”
He told the overview and scrutiny committee that the council needs to reduce its dependence on New Homes Bonus.
Cllr Dominic Hiscock raised concerns about the future of car parks such as Friarsgate, Chesil Street and the Cattle Market all proposed or suggested for redevelopment. “A lot amount of parking is going to unavailable for a number of years,” he said.
The city council has a parking strategy that proposes building a multi-storey at the railway station.
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