Cash-strapped Woking Borough Council has signed off on a budget aimed at ensuring the council ‘operates within its financial means.’
The troubled local authority was forced to declare itself effectively bankrupt in June 2023 with £2bn of debt.
It has now approved a ‘business as usual’ budget of £23.6m to fund essential services during the next financial year and £2.5m in savings.
This budget is separate from the council's legacy debt and borrowing costs.
Deputy leader and portfolio holder for Finance and Economy, Cllr Dale Roberts, said: ‘Whilst the council’s complex financial situation remains, the proposed budget marks a critical milestone in the borough’s financial recovery.’
