Under Schedule 7 and section 24 of the Local Audit and Accountability Act 2014, a Full Council meeting will be held to discuss a statutory recommendation regarding the Council’s financial position particularly as it relates to the ongoing debt issue.
The meeting is being held to consider the statutory recommendation submitted by Grant Thornton UK LLP, the local auditor of the accounts for Croydon Borough Council, relating to the External Audit for 2024-25. At the Council meeting Members are required to decide if the recommendation is accepted and what, if any, action to take in response to the recommendation.
The report makes one statutory recommendation in this regard, listed below, which the Council will consider at the 22 October Full Council meeting.
The meeting is to be held at the Council Chamber, Croydon Town Hall, and will start at 6.30pm.
Statutory Recommendation
The Council should seek to work with Government (through its newly appointed Commissioners) to develop an appropriate package of measures, which enable the Council’s operating costs to be reduced, affordable and sustainable. A solution to the debt issue is vital to ensure a transparent assessment of the capability and capacity of the Council in reducing its operating costs and returning to self-sufficiency in the medium to long term, with an affordable and sustainable debt burden. An effective solution to deal with the cost of the debt would facilitate a return to financial stability at the same time as the Council is held to account for delivering further savings and efficiencies, delivering the transformation programme, and maintaining appropriate quality standards within services to meet its statutory duties.
The full report and Council’s response to the recommendations will be published in the council meeting agenda papers online. The meeting will be held in public and live streamed.