Torbay introduces spending moratorium
0Torbay Council has placed a freeze on non-urgent spending in order to protect its reserves.
The action, which stops short of issuing a formal section 114 notice, was announced to councillors in a letter from chief executive Steve Parrock.
Last month, auditors concluded that the council’s medium-term resource plan had a gap of £14.7m between 2019–20 and 2021 –22.
Parrock’s letter said: “Torbay Council, like other local authorities, continues to face significant financial challenges due to government funding cuts and increasing demands, particularly in social care, but our current situation is that we have not run out of money or used reserves.
“We have delivered the planned year-on-year savings and made the necessary cuts as agreed in previous budgets.
“More difficult decisions will need to be made, and we will continue to identify options, priorities and solutions to try to meet the expected future financial challenges.”
