Gosport council will spend cash in its coffers

Detail from an exact replica of Lord Nelson's diamond Chelengk jewels. Picture:Andrew Matthews/Press Association

Replica of Nelson’s stolen jewel on display

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GOSPORT Borough Council said that it does have plans to spend money given to it by developers.

The authority has £929,000 of unspent money in its banks, as reported this week.

And of that £496,000 is unallocated – meaning it has not been identified for any community project.

The money is given to councils by developers, known as section 106.

If it is not spent in time, then sometimes the money can be taken away.

Julian Bowcher, treasurer for the council, said: ‘Most of the money will be allocated, as we’re currently engaging in a budget exercise.’