Liberal Democrat success on review of Council Finances

Liberal Democrats' succeeded in securing agreement for a full review of Woking Council finances at last week's Council meeting.

The first Council business meeting since May's elections gave unanimous support for a review to look at all aspects of Woking's finances.

"Liberal Democrats made a commitment to a full financial review in our election manifesto. "As a constructive opposition we put forward proposals for a review of council finances and I am delighted that this was supported by Council" said Liberal Democrat leader Cllr Ann-Marie Barker.

The review will go beyond the annual audit to produce a Statement which assesses the value of all Council owned assets, details all borrowings and contractual obligations, and highlights any conditions on grants, loans or other contracts that may incur penalties.

"We believe that local people deserve the complete picture on Council finances," pointed out Liberal Democrat Leader Cllr Ann-Marie Barker. "We have seen other councils be taken under government control in recent years and we are working to ensure that does not happen to Woking."

"If the Statement shows that the Council can meet its financial commitments that will be a great reassurance. If there is uncertainty, we need to know that too. There must be a proactive plan to manage any risks and the Liberal Democrats want to contribute constructively and put the Council in the best long-term and sustainable position to meet the challenges ahead" said Cllr Barker.

The review will begin as soon as an independent reviewer can be appointed and is to be completed by the end of 2021.