interest on balances
Bromley Council is addressing significant projected overspends that are reducing its general fund balance and reserves, which are the funds from which interest income is earned.
Bromley Council is currently addressing a projected £4.5 million overspend for the 2026-2027 financial year, as reported in September 2026, which is forecast to reduce the General Fund balance by £3.082 million. This financial pressure, including an overspend in Income from Investment Properties, contributes to the overall reduction in the council's available funds.
The projected reduction in general reserves to £16.918 million by March 2027 follows a projected £10.7 million overspend for the 2025/26 financial year, discussed by the Executive committee in June 2026. Interest on balances refers to income earned from funds held in bank accounts or other financial instruments, such as these general fund balances and reserves.
Key facts
- Bromley Council projects a £4.5 million overspend for the 2026-2027 financial year as of June 2026. Source
- The General Fund balance is forecast to reduce by £3.082 million. Source
- General reserves are projected to reduce to £16.918 million by 31st March 2027. Source
- Bromley Council projected a £10.7 million overspend for the 2025/26 financial year, discussed in June 2026. Source
About this summary
This summary was written automatically from our published stories and the council meeting records they draw on. It describes what councils have discussed and decided; it does not take a view on any decision. Each key fact links to the story it comes from. Updated 30 September 2026. Spotted a mistake? Email community@opencouncil.network.