Woking Borough Council’s Decision Papers Set to be Released

The recent financial challenges faced by Woking Borough Council have prompted a commitment to release confidential financial decision papers dating back to 2016. This decision is expected to enhance transparency surrounding the decisions that led to the council’s significant borrowing and subsequent financial difficulties. Consequently, Grant Thornton LLP, the designated forensic accountants, foresee the publication of these documents in March.

In the wake of intervention by the Secretary of State for Levelling Up, Housing, and Communities last year, Grant Thornton LLP has been conducting a thorough review of the council’s financial records. This investigation was initiated due to the council’s imminent risk of bankruptcy. Consequently, senior councillors have pledged to disclose previously confidential documents, reports, and decisions made during the period in which the council accumulated £2 billion in borrowing.

While the council is keen to release the papers, it is awaiting the completion of the auditors’ value for money investigations. The process must comply with the Local Audit and Accountability Act 2014, necessitating consultations with relevant parties before the finalisation and publication of the report. As confirmed by Joanne Brown of Grant Thornton LLP, the release of the report is likely to be delayed until March 2024 due to these procedural requirements.

In line with the effort to enhance transparency, the council has expressed its intention to make historic Part 2 documents available to the public. These documents, traditionally kept confidential, contain sensitive information that could impact the council’s revenue. Nevertheless, the decision to release them aims to provide insight into the rationale behind past decisions.

Significantly, Woking Borough Council’s decision to make the historic papers accessible to the public serves as a means to illuminate the factors contributing to its current financial challenges. The forthcoming disclosure of both the Grant Thornton Value for Money review report and the Part 2 papers underscores the council’s commitment to accountability and transparency.

Looking ahead, these documents will be accessible on the council’s official website, enabling residents and stakeholders to gain a deeper understanding of the decisions and actions that have influenced the council’s financial landscape. By doing so, the council aims to promote greater transparency and accountability in its decision-making processes.

In conclusion, Woking Borough Council’s decision to disclose its historic financial decision papers signifies a significant step towards enhancing transparency and accountability. As the anticipated release date approaches, the council’s dedication to openness is poised to provide valuable insights into its financial management and decision-making practices.