First report on right-to-buy repayments to be reviewed this week
Brief for independent KPMG Report to be reviewed by Working Group this week
The second meeting of the Right-to-Buy Reporting Review Executive Working Group will meet this week on Wednesday 10 March. The Group will be asked to review the brief which has been drafted for KPMG which will produce an independent report on issues relating to the repayment of £2.7m of Right-to-Buy ("RTB") receipts to the Government. It will also discuss the first draft of the internal Council report into the issue and recommended actions to prevent a repeat of these repayments.
Both documents will be circulated to the Working Group tomorrow, Tuesday 9 March.
The draft Brief for KPMG covers the following areas:
- The causes of the repayment to Government
- How the causes were reported to relevant committees and whether these were adequate
- The impending RTB repayments unless adequate actions are taken
- The reporting procedures going forward
This draft will then be amended following the meeting this week and submitted to KPMG.
Tim Anderson, Lead Councillor for Resources and Chair of the Working Group and Claire Morris, Director for Finance will meet with KPMG this week or next to discuss and refine the brief.
KPMG will work on their audit during April with a view to providing their report to the Executive in June and the Council in July.
The Working Group will report its analysis and recommendations to the Executive on 23 March and to Full Council on 13 April.
Tim Anderson, Lead Councillor for Resources said:
"We are working flat out to complete the analysis and refine our recommendations so that we have done everything possible to avoid future repayments of Right-to-Buy receipts. These are very tight deadlines, but the issue is urgent and Councillors and Officers are committed to delivering on time."
Published 9 March 2021