Stricken Woking BC has issued a Section 114 notice as the authority continues to work with Government on a solution its financial crisis.
The councils said it faced a £1.2bn deficit against core funding of £16m and pointed out the notice requires it to stop all non-essential spending.
Julie Fisher, Woking BC’s chief executive, said: ‘Through the commissioning of an independent financial review of the Council’s borrowing and loans to its companies, we have a comprehensive understanding of our severe financial position which informed the section 151 officer’s decision to issue a Section 114 notice.
‘I am preparing a response to this notice for an extraordinary meeting of full council that is being arranged for Tuesday 20 June to meet this requirement.’
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