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Auditors Criticise Conservative run SNC

Author: Martin Johns - Lib Dem Published: 11th June 2018 11:21

Councillor Chris Lofts, who sits on the Audit Committee says “It is beyond belief that the Conservatives at SNC have made the same mistakes as the Conservatives have done in Northampton, when they lent £10m to Northampton Football Club. When lending public money council’s must make sure it is done properly and repayment is safeguarded.”Councillor Chris Lofts, who sits on the Audit Committee says “It is beyond belief that the Conservatives at SNC have made the same mistakes as the Conservatives have done in Northampton, when they lent £10m to Northampton Football Club. When lending public money council’s must make sure it is done properly and repayment is safeguarded.”

Auditors Ernst and Young have criticised Conservative run South Northamptonshire Council over their failure to properly manage its finances. Auditors also raised concerns over the way the council made a large loan of public money to the Silverstone Heritage Experience.

Abigail Medina Liberal Democrat candidate in the Potterspury and Whittlebury by-election, called after a Conservative councillor was disqualified said: “The Liberal Democrats were not opposed to loaning the Silverstone Heritage project money but we are concerned that the Conservative administration has it appears failed to manage the loan properly.”  

In his report, the auditor states: “We identified a significant matter in relation to the valuation of assets.” The auditor added: “We considered that the Council lacked sufficient capacity to investigate and resolve these matters on a timely basis.”

The report also highlights that when SNC lent £3m of local taxpayers’ money to Silverstone Heritage Limited, it failed to adopt good practice. The auditor states “There was no assessment of Silverstone’s ability to repay the loan, or of the risk of the loan not being repaid.”

Councillor Chris Lofts, who sits on the Audit Committee says “It is beyond belief that the Conservatives at SNC have made the same mistakes as the Conservatives have done in Northampton, when they lent £10m to Northampton Football Club. When lending public money council’s must make sure it is done properly and repayment is safeguarded.”

Councillor Martin Johns added: “The Auditors have also picked up that the Conservative administration have failed to properly manage the council’s finances. Cuts to staffing and lack of focus by key senior councillors and managers could have cost residents dearly.”

Liberal Democrats on South Northamptonshire Council believe that sound financial management is at the heart of effective local government. Residents across South Northamptonshire are facing uncertain times as existing councils are replaced by new unitary government. The record clearly shows that locally Conservative run councils have failed to fully protect public money.

 

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Comments

peter k
At 12:28 on 11th June 2018, peter k commented:
No comment regarding SNC passing Towcester's 106 Agreement money to developers to build a questionable relief road that they would have, in any case, needed to build to access their own development.

Possibly, one for Ernst & Young to comment on?
peter k
At 08:47 on 2nd July 2018, peter k commented:
PS
The amount relinquished to Persimmon Homes is £30m ( from Town Council meeting in May). Quite a lot for the town to give up for this questionable "by-pass"

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