Experts in public finance have started work at Newham Council to review its financial sustainability and ensure all is well with the books.
The Chartered Institute of Public Finance and Accountancy (CIPFA) are the professional body for people in public finance. They champion high performance in public services and provide insight advice on public financial management and good governance.
Mayor Rokhsana Fiaz, said: “My election pledge was to clean up the council’s budget so that it is open and transparent. That’s why I have brought in CIPFA - the are the public finance experts - to work with the council to achieve this.
“I want to be assured that we have a sound financial footing and my intended detailed and costed plan to deliver my manifesto commitments for our residents takes into account the resources available.”
The Mayor has asked the organisation to carry out a financial health check to look at the assumptions underpinning the council budget, how the council uses its assets and future budget pressures.
The financial health check will aim to identify how the council can incorporate best practice from other public sector bodies.
CIPFA will also identify how the council can further include residents and its community in the financial decision making process.