The City of Wolverhampton Council has been backed for the way it manages public funds by independent auditors. An annual report into the council’s financial statements has revealed it provides value for money with strong governance procedures in place and no significant weaknesses over its financial sustainability.
The report by auditors Grant Thornton also found that the council has effective arrangements in place for delivering economy, efficiency and effectiveness in services to local residents. External auditors are required by law to deliver the annual report which was taken to the Council’s Audit and Risk Committee Meeting on Monday (23 January, 2023).
Chair of the Committee, Councillor Craig Collingswood, said: “This is an extremely positive report that shows the council is delivering value for money when it comes to managing public funds.
“It’s anticipated the council will be given an Unqualified Opinion on its financial statements – which in simple terms means a clean bill of health and shows the council manages its money well. This report is important for transparency and shows how the council operates. I’m pleased that our committee, along with the work of the auditors, will reassure the people of Wolverhampton and provide public confidence in how the council manages its money.”
As part of the Annual Report, Grant Thornton also backed the Council’s management of the Civic Halls refurbishment project since June 2018. They found there was no risk of ‘significant weakness’ in the council’s management of the project.
The much-loved entertainment venue, now known as The Halls Wolverhampton, will reopen its doors in June following a complete overhaul. The Annual Audit Report was also taken before this week’s meeting of Full Council on Wednesday (25 January, 2023).