Mr Lodge is stepping down as finance lead, after previously announcing he would not seek re-election next year.
A councillor at the centre of the tree felling dispute in Sheffield has resigned from his role.
The Labour politician said it would not be appropriate for him to set a budget if he was "not around to deliver it". "We have just come out of a very difficult budget setting process, working hard to set a balanced budget for the forthcoming year," he said.
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