By Webteam - 4th November 2013 6:06am
Cheshire East Council is giving itself a pat on the back with its half year financial report.
The council's cabinet will be told next week that there is "substantial improvement" in its financial position compared to previous years as it hits the mid-way point of the 2013/2014 financial year.
Although the council is still heading for a £3.5 million overspend, councillors will be reassured that this is only 1.3% of the council's annual budget of £260.3 million.
A report by the council's chief operating officer Peter Bates says: "There is improvement in the financial position since the first quarter, and there is substantial improvement compared to this position in previous years."
And he insists the Corporate Leadership Board is currently working hard on reducing the £3.5 million deficit forecast.
As well as noting the financial position councillors will be asked to approve supplementary spending of £250,000 and to fund new council initiatives of £46,500.
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