Date:
Woking Borough Council will consider all the findings and recommendations of a public interest report into its governance arrangements relating to past investment decisions and strategy during an extraordinary council meeting next week (Wednesday 20 November).
The report, compiled by independent external auditors, Grant Thornton, highlighted historic shortcomings in the council’s financial, governance and legal arrangements going back decades.
It concluded that during that time the council’s political and managerial leadership failed to ensure that borrowing and investments were proportionate to its size and failed to ensure ‘best value’ due to a lack of financial control, risk management and effective governance arrangements.
This led to unsustainable borrowing and a legacy of extraordinarily high and disproportionate levels of debt.
The report also found that key senior officers failed to fulfil their statutory duties during the period investigated. All the individuals concerned have since left Woking Borough Council.
Ahead of next week’s meeting, Cllr Ann-Marie Barker, Leader of Woking Borough Council, said: “The findings of the independent Grant Thornton public interest report are both shocking and significant.
“Accounting practices were poor, governance inadequate and risks ignored, whilst previous senior officers did not meet the standards of office required. Put simply, Woking Borough Council was not delivering best value for residents.
“As a council, I believe we should accept the report’s conclusions and recommendations in full, as part of our commitment to address the systemic failures head-on, focus on securing the council’s financial future and, above all, rebuild public trust.”
During the Extraordinary Council Meeting on Wednesday 20 November 2024, representatives from Grant Thornton will be in attendance to answer questions from councillors. The meeting will be webcast live.
Read the Grant Thornton public interest report
Watch the meeting (7pm, Wednesday 20 November)
Hard copies of the report are also available to view in person at the Civic Offices between the hours of 9am and 4.45pm, Monday to Friday.
In the interests of transparency, the council has published confidential Executive and Council Part 2 reports and documents dating back to between 2016 and 2022.