Runnymede Finances Update

Following the formation of the new Alliance leadership in May 2024 we are pleased to announce that the Non Statutory – Best Value Notice, issued by the Government in December 2023, has now been lifted. 

This recognises that the programme of work delivered during 2024 provided sufficient assurance to demonstrate that the Council is fulfilling its Best Value duty under the Local Government Act 1999.

The letter from the Ministry of Housing, Communities & Local Government states:

“The department remains concerned about the significant debt held by the council and the risk this carries. As a result, we expect the council to continue leading its own improvement journey and taking steps to reduce and manage its overall debt. I ask that the council keeps engaging openly with the department about this, on at least a quarterly basis for the time being. Should the department deem it necessary to seek further assurance through a Best Value Notice in future, based on the available evidence, a further Notice will be issued”

Whilst this is good news Runnymede Borough Council must stay mindful of the £4.1m budget gap, reduced from the £5.2m, we inherited from the previous Tory administration as well as the continuing debt of £627m.

A programme of work will be carried out over the coming months reviewing the services that Runnymede delivers and to identify opportunities for efficiencies, further cost savings and greater clarity on some of the decisions that the Council will have to make. 

On top of this Runnymede has worryingly missed another milestone in meeting the Government’s back stop date of the 13th December 2024 for delivering the completion of the external audit of the Council’s accounts for the years 2019/20 to 2022/23. Whilst there has been an issue nationally, it remains a concern to elected councillors in Runnymede and continues to undermine our confidence further in Runnymede’s finances.

We will keep you informed of the evolving financial position of Runnymede Borough Council.