ST HELENS Council continues to offer “value for money” in its use of resources, its external auditor has said.

Grant Thornton presented its external audit findings to the council’s audit and governance committee on Monday.

The audit focuses on the council’s financial statements and its value for money arrangements.

Grant Thornton carried out the work on-site in June and July.

Speaking to the audit and governance committee, Mark Heap, Grant Thornton’s engagement lead, said: “We’ve completed our work on the value for money arrangements in place at the council.

“And we’ve concluded again that we’re in a position to give an unqualified value for money conclusion, which in other words confirms that in our view, the council has proper arrangements in place to secure economy, efficiency and effectiveness in its use of resources.”

The value for money work identified two significant risks in respect of specific areas of proper arrangements.

These were the medium-term financial position and future required savings challenges and progress made against the Ofsted priority action notices for children’s services.

Grant Thornton concluded: “Based on the work we performed to address the significant risks, we are satisfied that the council had proper arrangements for securing economy, efficiency and effectiveness in its use of resources.”

At present, Grant Thornton has only “substantially completed” its audit of the council’s financial statements.

Auditors have been on-site this week to resolve a number of queries that have resulted from the audit.

Mr Heap told the audit and governance committee that currently only one outstanding matter remains, which relates to properties, plants and equipment (PPE) queries.

He said sample testing of key valuation assumptions in respect to PPE has raised some “questions” about some of the percentages used.

The council’s financial statements 2018-19 include £460.5 million net book value of PPE, of which £258.6 million is in respect of land and buildings.

“We have considered and challenged the assumptions of the valuer as part of the sample testing carried out, including the use of the work of an auditor’s expert to support calculation of an expected value for individual sampled assets, using common and readily available valuation indices,” the audit findings report said.

“This has identified that the valuation of a number of assets are significantly different to expectations.

“We are working with management and the valuer to understand these differences and to conclude as to whether valuations are materially correct for these assets.”

Mr Heap said these matters are due to be complete this week and subject to them being resolved, Grant Thornton will be able to issue an unqualified audit opinion, which means they have a true and fair view of the council’s financial position.