Council beats the credit crunch

Oldham Council ended the financial year in the black, and will carry forward £1.5 million into this year.

The money will be used in 2009/10 for priority projects including training, Councillor Lynne Thompson, cabinet member for finance and resources, said at last night’s cabinet meeting.

She said the carry forward amounts to a green light for a number of important projects to continue without taking money from the current year’s funds.

She added: “We can do this because we can already forecast with confidence that, thanks to firm financial management, we ended the year in the black and with a surplus sufficient to cover the remaining work.”