SWINDON Council's decision-making cabinet has been reminded to tighten its purse strings.
The council was subject to an extensive audit and having had time to consider the implications its decision-making cabinet will look to Nick Martin (Con, Shaw and Nine Elms), the lead member for corporate recovery, service delivery and best value, to help it achieve a sound financial footing for the forthcoming financial year.
Part of the audit letter, which was presented to the council by Bristol-based auditors Robson Rhodes earlier this year, read: "Our review of the work completed by internal audit recognises that, in the majority of core financial systems, underlying controls are weak.
"Whilst these control deficiencies are unlikely to have a significant or material impact upon the accounts, there is a risk that system weaknesses may lead to some misstatement. Management, through internal audit, needs to gain assurance that systems have not been exploited, through substantive testing and implement a programme of action to address the weaknesses identified."
The council achieved a small surplus in 2001/02, but an overspend of £1.5 million in 2002/03. Its general fund reserves currently stand at around £2.1 million, but the authority needs to identify further resources to restore the minimum balance of £4m, according to director of resources Ian Thompson.
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