GOVERNMENT watchdogs have raised concerns about the way the finances of three multimillion-pound Basildon Council regeneration projects are being handled.
The Government’s Audit Commission has found “significant risks” in the bookkeeping behind flagship projects.
This includes the £1billion Basildon masterplan, the £150million Wickford town centre masterplan and the proposed £35million sports village in Gloucester Park.
Tomorrow, the council’s audit and risk committee will be briefed on the full implications of the Audit Commission’s findings.
A report to councillors suggests “more complex accounting” may be needed.
Labour councillor Nigel Smith has raised similar concerns in the past. He said: “The council is engaged in extremely expensive and complicated projects.
“I am concerned whether we have the resources to deal with them adequately. A huge amount of public money is potentially at risk.”
Tory council leader Malcolm Buckley admits the council’s accounting systems may leave it open to fraud.
He explained: “I believe what the commission is saying is a project of this scale can bring added accounting challenges above and beyond what most local authorities face.
“It may say our procedures are not sufficiently robust to safeguard against fraud – but I am speculating. Our audit team will look at what the commission says and put in place any procedures.”
He said the sports village was still on track to open in late 2010 . A developer for the scheme would be announced in March.
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