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Auditors Praise TVBC’s Financial Management

Test Valley Borough Council’s Annual Statement of Accounts for 2012-13 has just been published with independent auditors commending the authority for its financial robustness, efficiency savings and maintaining primary services in the face of a tough economic climate. [Read more...]

Test Valley Borough Council’s Annual Statement of Accounts for 2012-13 has just been published with independent auditors commending the authority for its financial robustness, efficiency savings and maintaining primary services in the face of a tough economic climate.

The statement is independently audited to assess the robustness of the Council’s arrangements for managing its finances, its efficiency and the effective use of resources; and the auditors have again found that there were no areas of material concern.

The auditors noted that, “The Authority has established a robust Medium Term Financial plan which it updates regularly as underlying assumptions change. [It] continues to look for efficiencies and has demonstrated that it can find and achieve savings and more efficient ways of working without cutting primary services. [The auditor] is satisfied that, in all significant respects, Test Valley Borough Council put in place proper arrangements.

Economic Portfolio Holder, Councillor Peter Giddings said, “It is pleasing that despite times continuing to be tough economically, the auditors have been able to give a positive endorsement of the Council’s financial management. This is undoubtedly a reflection of the hard work of our staff and Councillors, and the emphasis on continuing to deliver against recognised corporate priorities – one of which is building a more competitive local economy.

The Annual Statement of Accounts and the Auditor’s Annual Governance Report are available to view on the Council’s website. An online summary set of accounts will also shortly be available to download.

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  • “continues to look for efficiencies and has demonstrated that it can find and achieve savings and more efficient ways of working without cutting primary services. ”

    So, how big were those efficiency savings? Very creditable that they did not have to cut primary services (which I understand Hants CC is aiming to do in 2013-14 to the tune of £80m) but how big were they? Were they more than enough to cover overall inflation? Perhaps, was more saved than the costs increased? If so, what happened to the money? Or, has it just gone to fatten the reserves? And, what about next year – more efficiency savings?

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