Tandridge District Council savings turn round £1m deficit

Tandridge District Council is no longer on the brink of filing a bankruptcy notice

A Surrey council which had been threatened with bankruptcy has plugged a £1m hole in its finances.

Tandridge District Council had a hole in its budget for more than a year, but is now in a position to put money aside.

A meeting of the authority's strategy and resources committee heard that the council had £458,000 surplus in its revenue budget.

The cash is likely to be needed to meet challenges in the coming year.

The surplus will also be put into the council's reserves pot, for the day-to-day running of services, according to the Local Democracy Reporting Service (LDRS).

Mark Hak-Sanders, the district council's chief finance officer, said the finance update was a "positive picture". But he said savings were still needed in order to increase reserves.

There were previously concerns the council may have had to issue a section 114 bankruptcy notice, due to the budget issues.

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