FINANCE bosses at Wyre Forest District Council have revealed the authority has made more than £440,000 savings in the past year.

Government funding cuts mean the council has to save £1.6million by 2020/21 and they said cost savings, increased income generation and budget management had let to £444,000 being saved from an overall net budget of £12million.

Final accounts for 2017/18 show the council has reduced payroll costs by £148,100, general administration costs by £52,400, and reducing interest on external borrowing by £35,600.

It also made savings of £53,000 in business rates payable by the council while decommissioning the Glades Leisure Centre achieved a £34,800 saving.

Increased income included £58,200 from services such as garden waste collections and sales from the Bewdley Museum and TIC shop.

There has also been a £30,400 increase in income from development control.

Accounts also show that more than £233,000 has been released into the authority’s general reserves.

Elsewhere, the report shows a £1million business rates surplus. The council says this is as a result of improved business rates growth with projects including Bewdley Medical Centre, Coventry Street Medical Centre and Pharmacy, new Aldi at Silverwoods, IGS and Lens Online (Specsavers).

It is proposed to allocate £900,000 of the business rates surplus for business rates/regeneration initiatives and a further £100,000 to support costs of new income generation ideas.

A cabinet meeting will be held on Tuesday (June 12) in which the council will discuss how the council will look to generate more savings.

This includes a proposal to reinvest £350,000 of the money saved into more work to “generate further efficiencies”.

Cabinet member for resources Councillor Nathan Desmond said: “Every year the challenge to make savings and increase external income, while continuing to offer value for money services, gets harder.

“We knew we had a tough job because we were having to make savings from a smaller budget. But once again I’m very pleased that we have achieved more than we projected through sound and prudent budget management.

“The money saved will be careful reinvested to generate further efficiencies and savings, so council services can be protected.”