Surrey County Council has achieved an underspend of £21.8m against its original 2018/19 budget, meaning it did not have to dip into its reserves.
The council had originally budgeted to support its original budget by drawing down £21.8m of its reserves.
However, efficiency savings during the year meant that it ended up topping up the reserves pot by £500,000.
A report to councillors this week said: “This is an important step towards financial resilience and stabilisation of the Council’s financial outlook.”
The council said it has achieved £106m of savings, halfway through a two-year transformation programme aimed at cutting £200m.
However, the council said that it still faces further financial challenges arising from the forthcoming Fair Funding Review as well as a rise in demand for its services.
