Financial accounts of Welsh councils and police bodies
9 Jan 2014 - 4:44pm
Third annual report shows improvements but concerns remain in some areas
The quality of local government financial accounts, submitted each year to the Auditor General for Wales, is generally getting better - and all accounts were submitted by the 30 June deadline. But, while there has been an improvement this financial year, compared to the 2011/12 accounts, for some councils things have got worse - particularly in areas with complex accounting requirements, such as property, plant and equipment.
In his report, the Auditor General urges public bodies to ensure that they have effective financial management arrangements in place- as the challenges will continue during this extended period of austerity. He calls on them to adopt good medium term financial planning models which are linked to, and supported by, robust plans for transforming services.