Basingstoke and Deane Borough Council is one of the wealthiest councils in the country - but how much money does it have in the piggy bank?

According to its most recent statement of accounts, filed at the end of the last financial year in March 2020, it has more than £405million in reserves.

The council’s balance sheet shows usable reserves of £95.6million and usable developers’ contributions of £10.3million.  

However of this £105.9million of usable resource, £71.3million is available to fund current and future spending plans and programmes.

This means this money can be used to spend how the council and its administration sees fit - on housing, development, community projects and cultural sites. 

In contrast, neighbouring authority West Berkshire Council (population of around 158,450) has £29million in useable reserves.

The report states that the remaining £34.6million is invested in order to earn income to help support the future running costs of the council, or is being held in the form of risk reserves to provide protection against the main risks to the council’s finances.

The usable reserves of £95.6million consist of capital receipts, revenue reserves including the general fund balance and capital grants and contributions unapplied.  

The council has no long term debt in the form of borrowing and therefore has no requirement to set aside amounts to cover future debt repayments. 

The statement of accounts has not yet been audited.

The council employs 540 full-time employees. In 2019-20, staff costs set the council back £27.1million. 

The former chief executive was paid an annual salary of £149,000, marginally less than the prime minister. 

Read the statement of accounts, here.