LANCASHIRE County Council faces a predicted overspend of £7.59million in the current financial year.

The figure is in a new report to the authority's ruling cabinet and is dramatically down on the original deficit forecast for 2024/25 of £28.4m.

Lancashire County Council provides key services including education, adult and children's care and highways to 12 districts including Ribble Valley, Hyndburn, Burnley, Pendle and Rossendale.

The senior councillors were told at Thursday's meeting that based on performance in the first quarter of this financial year, (April to June 2024), there is a predicted overspend for the year of £7.59m on services, but this was much less than the £28.4m initially predicted.

The financial report said that prompt management, including planned savings brought in earlier than anticipated, service recovery plans, grant funding and one-off funding from reserves had enabled the improved forecast.

It added that every area of overspend will now be reviewed and subject to a recovery plan with a clear focus on savings.

The report promised updated proposals to continue to tackle the overspend will be developed to ensure a balanced and sustainable budget in future years.

Cllr Alan Vincent, the authority's deputy leader and resources boss, said: "Local government finances continue to be very challenging across the whole country with many councils in serious difficulties.

"Whilst Lancashire has a small projected overspend at this point in the year, we are in a relatively strong financial position with robust plans in place to help ensure we continue to balance our budget.

"These include reviewing areas where an overspend is expected as well as updating and implementing saving proposals.

"We are clear that we cannot be complacent about our finances, and we are committed to maintaining our strong focus on financial management alongside delivering quality services to residents."