THE long-running saga of Kirklees Council's financial state is over.

New council leader Robert Light last night said there was no `black hole' in Kirklees' finances - putting an end to months of speculation.

He closed the long-running debate at a meeting of the full council.

And he said: "I am confident that the council's officers provided the previous administration, and the new administration, with sound advice and analysis of the financial and budget issues.

"The incoming Conservative administration inherits a financial position which is sustainable on the basis of inherited policies and service plans."

Clr Light commented on the recent public debate over the state of the council's finances and the findings of an Audit Commission investigation into overspending by social services were announced.

The commission found that the unexpected rise in demands for services in Kirklees was equal to those being faced by social service departments across the country.

It also found that extra costs were properly budgeted for by the Lib-Dem administration.

Lib-Dem group leader Clr Kath Pinnock said: "I am pleased that the administration has agreed there is no `black hole' in the council's budget, that there is no financial crisis.

"I am also pleased that the Audit Commission has confirmed that the Lib-Dem leadership of the council made the right decisions about providing services to vulnerable people in Kirklees.

"It is unfortunate that the Conservatives, Labour and British National Party chose not to recognise the facts of the matter prior to recent local elections.

"Their negative attacks on councillors have left residents with unnecessary concerns."

But Labour leader Clr Mehboob Khan said there had been a £36m black hole, which the council filled in its desperation to cover up its `financial mismanagement'.

He added: "This has been done by raiding cash reserves, shamelessly cutting essential services to create a £10m overspend, increasing some charges by 50% and money has been borrowed to prop up council finances."

And Clr Khan insisted: "The crisis is far from over."