“WOKINGHAM is not a council in crisis, unlike many others”.
That’s the verdict of the former executive member for finance, Cllr John Kaiser.
The Conservative, who lost his role when the council changed leadership in May, was speaking on a financial report presented to a meeting of the council on Thursday, September 22.
“The financial standing of the council remains robust, achieved through years of good financial management. The council have built up financial resilience and sustainability,” he said.
“I accept, we’re all faced with a lot of tough challenges. But I believe that Conservatives left this council in the very best place financially with the issues to deal with the issues. And I would suggest that we as a party, or I would have been quite happy to steer the council through these tough times.
“I just hope Clive Jones, the new leader of the Council, continues to deliver the high quality services the residents have come to expect and at reasonable cost. But also remember, to enable him to do this, the Council must remain solvent.
“We have high levels of usable reserves, and high levels of control over our revenue spending. And with the sustainable capital programme for growth to the future.
“My advice to you, Clive is stop pointing at the past and get on with dealing with the future .. and don’t cock it up.”
He was responding to the report presented by his successor, Cllr Imogen Shepherd-Dubey, who said: “(This) is a good news message. It shows that the amount of external borrowing that the Council was predicted to need has declined. This has a reduced some of the potential impact on our General Fund as that is where the interest payments are made from.
“It is also where we are seeing most of the financial pressures at the moment.
“It shows that the investments we have are a Benefit to the council, however, the Internal Borrowing to Capital Financing Requirement – is outside of the target meaning that the council is using more of its own internal money to finance its needs, but it is still better than borrowing from external sources.”
Cllr David Davies expressed his concern over the report being amended before it came to the council chamber. Cllr Shepherd-Dubey said this was not the amendment agreed by the audit committee, hence the change.
The report was noted by councillors.
