My Lib Dem colleagues and I have succeeded in securing agreement for a full review of Woking Borough Council’s finances.

Councillors gave unanimous support for a review to look at all aspects of Woking’s finances at the last Council meeting before the August break.

The Lib Dems made a commitment to a full financial review in our election manifesto for May’s elections, and as a constructive opposition we put forward proposals for a review of the Council’s finances – and I am delighted that this was supported by Councillors.

The review will go beyond the annual audit to produce an official 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.  We have seen other local authorities 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 Lib Dems want to contribute constructively and put the Council in the best long-term and sustainable position to meet the challenges ahead.

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