The Woking Borough Council is renowned for its strong vision and progressive approach. In accordance with our vision for the borough, we have made significant investments in the regeneration of our area and the improvement of the council’s financial position.
It is imperative that our borrowing remains manageable and that our investments produce benefits that support the borough’s regeneration and enhance our financial standing. For this reason, we have enlisted the professional services firm, EY, to conduct a thorough review of our financial affairs, covering our assets, borrowings, investments, and contractual obligations.
The comprehensive report provides independent insights, key facts, observations, and perspectives on the financial risks present in our financial position. For a more detailed understanding of our investment strategy and our response to EY’s assessment of our finances, a comprehensive explanation can be found in the accompanying video.
The assessment was presented at the meeting of the council’s Overview and Scrutiny Committee on 24th January 2022 and subsequently at the Executive meeting on Thursday 3rd February 2022, as part of our Medium-Term Financial Strategy.
For those who are interested, the following PDF documents are available for review:
– EY assessment summary report (January 2022)
– Full EY assessment (January 2022)
– Council’s Overview and Scrutiny report (24th January 2022)
– Insight into how EY’s comprehensive statement has influenced our Medium-Term Financial Strategy
For inquiries related to accessibility, an accessible version of the documents can be obtained via email at [email protected].
In conclusion, our commitment to transparency and responsible financial management is evident in our decision to undergo a comprehensive financial review. By ensuring that our financial decisions are informed by reliable, expert assessments, we are actively working towards the sustained development and enhancement of Woking Borough.
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