Further financial support from the Government is needed to reign in unsustainable budget overspends, Sheffield's councillors will be told. By the end of the current financial year, the authority is forecast to overspend its revenue budget by £43.4m. A combined £30.9m of the gap is due to adult and children's services while another £10.8m is the result of savings not being achieved. This excludes the potential losses from council tax and business rates, which 'may appear in future years,' according to a report by officers to Sheffield City Council members yesterday. The report said that without further financial support from central Government, reserves will be exhausted in the next 15 to 30 months and the council will be unable to fix a sustainable budget.
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