A COUNCIL need to make savings of nearly £1 million over the next three years to close a budget gap.

Maldon District Council will need to make savings of £98,000 in the 2018/19 financial year, with a further £282,000 and £596,000 of savings required for the subsequent two years, a total of £976,000.

In the agenda due to go before the council’s finance and corporate services committee on Tuesday, it is claimed the required savings are the result of the council becoming fully reliant on business rates. The report said: “In order to support affordable levels of council tax additional income needs to be generated alongside a reduction in costs.

“Provisions for inflation and the living wage have been built into the future financial model but these are subject to further analysis.

“The focus of the medium term financial strategy is now commercialisation with a Commercialisation Strategy being presented for approval to the council in December. “Seminars will be held to support this strategy for Members and additional training will be held for officers.

“The council is committed to developing our commercial strategy to improve the efficiency of savings and develop future sustainable revenue streams.”

Emma Foy, Director of Resources, said; “The council is currently embarking on a council-wide transformation programme which is looking at how we can transform the way in which we work and identify savings and efficiencies through improved systems, processes and better collaborative working.

"The council will also be considering a commercial strategy later in the year and this together with our transformation programme, we hope will help to address our budget gap going forward.”