Independent auditors have praised North Tyneside Council for the sound management of its budget.
The Audit Completion Report, produced by Mazars LLP, reviewed the authority’s performance for the 2017/18 financial year.
Auditors gave North Tyneside Council an “unqualified opinion” thereby confirming its financial statements were a fair representation of the authority’s operations and financial position.
Coun Ray Glindon, cabinet member for finance and resources, said: “The report confirms that North Tyneside Council has a robust and effective approach to managing our finances.
“I was pleased to see auditors recognise our efforts to deliver value for money for our residents.”
“We are committed to making sure the council works better for local people and this independent report confirms that we are delivering on those promises.”
The council was recognised for its thorough and ongoing budget monitoring processes that ensure efficiencies are achieved throughout the year. In particular, auditors highlighted the council’s achievement in reducing a £7million forecast overspend at the beginning of the financial year to a £0.7million underspend by the end of the year.
Auditors said the council continues to face financial pressures from reduced government funding, increasing demand and changing responsibilities.
This follows the approval at Full Council in March a £10million package of savings to protect essential services across the borough, and savings of more than £109million made over the last seven years.
Successful projects to address these challenges, including reviewing services, introducing new ways of working and delivering a programme of efficiencies, were highlighted in the report.
The council will now progress with auditors’ recommendations to improve its financial management further and continue to roll out new systems and processes to enhance value for money for residents across the borough.