Council praised for robust financial management
Monday, October 24 2005
External auditors have praised Scottish Borders Council for the high standard of financial management displayed in its latest Statement of Accounts.
A final report by auditors Scott Moncrieff on the Council's accounts for 2004/5 concludes that SBC now has a sound system of budgetary control, and highlights significant improvement in this area over the last four years.
Scott Moncrieff found that, overall, the Council's accounting systems and internal controls are largely operating effectively.
The report details the significant progress made by the Council towards achieving its medium-term target of increasing General Fund Reserves to 4% of net revenue budget.
"The external auditor's report contains a number of very positive statements about the Council's finances and highlights a number of other areas for review and improvement in relation to Governance, Performance and Finance and we have agreed to review these as soon as possible," said SBC's Director of Corporate Resources, John Campbell.
Council Leader David Parker also welcomed the report: "This is the third audit report pointing to significant progress in
relation to the financial affairs of Scottish Borders Council. Although, as always, there are various aspects which we need
to improve upon, there is no doubt that the report represents continued significant progress in our financial management."
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