Council bosses in Wolverhampton have said they will continue to deliver for the city’s residents after financial plans for next year were backed.

City of Wolverhampton Council is set to deliver a balanced budget for 2024/25 after proposals were approved at last Wednesday’s Cabinet meeting.

Councillor Louise Miles, the Council’s cabinet member for Resources, said she was proud to put forward a budget that allowed the council to continue to deliver for the people of Wolverhampton.

“This year’s financial settlement from central Government was disappointing, leaving us worse off in comparison to other councils,” she said. “This put us in the very challenging position of managing a funding package that has failed to keep up with rising costs and increases in demand for services.

“However, we have worked hard to set a budget that delivers our priorities including supporting residents through the cost of the living crisis, investing in the future of our children and young people, delivering excellent services as well as creating a vibrant city for people to live and work in.”

Earlier this year, independent auditors praised the council’s strong historic financial performance and ability to deliver savings, stating it was in a strong financial position compared to other authorities as it plans for the future.

Councillor Miles added: “We’re proud of our proven track record of managing money well, having to make £240 million worth of savings due to reduced government funding since 2011. However, as is the case with many councils, there will be some challenging years ahead. 

“While we’re pleased to set a balanced budget for next year, we know we must continually plan prudently for the future. We can assure residents that we will be willing to take difficult decisions in order to safeguard services and provide the best possible services.”

The budget is now set to go before next week’s meeting of Full Council.