“This is a remarkable achievement for all concerned and I would like to thank everyone for their hard work in making this happen.
“Let’s not forget that our financial challenge stood at £64.4m earlier this year so to be reporting such a positive situation for period 11 is a considerable accomplishment.
“However we still need to be cautious as although this is exceptionally positive it does not mean that the council has made a full recovery. Our financial position remains fragile.
“As such, the Council will maintain its robust spending controls, including the continuation of the spending control panels, to ensure all spending is scrutinised to demonstrate best value in fulfilling the Council’s objectives.”