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SMBC Hunts for Unaccounted Millions

 

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Peter Devine
Drifter
SMBC Hunts for Unaccounted Millions
15th June 2012 at 11:54AM, Edit: 15th June 2012 at 12:55PM by Adora
The finance director at a council-owned company has been suspended over a discrepancy of up to £5m in its accounts.

Jeremy Wright, 55, was suspended after the ‘serious financial anomaly’ was found in Solutions SK’s end-of-year accounts.

For more see:
http://menmedia.co.uk/manchestereveningnews/news/s/1581364_solutions-sk-finance-director-suspended
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Coleman
Good Citizen

Coleman
Re: SMBC Hunts for Unaccounted Millions
15th June 2012 at 1:48PM, Edit: 15th June 2012 at 3:41PM by Coleman
Wow i wonder who's back pocket that fell into?

I'm still astounded that company's like Solutions SK and NPS are allowed to exist in the first place. Even if they a run correctly, which based on things i hear and of course this story i doubt, there is still a huge conflict of interest when the council are allowed to tender for their own contracts!
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Robot69
Citizen

Robot69
Re: SMBC Hunts for Unaccounted Millions
15th June 2012 at 3:20PM
And I bet that is the tip of the iceberg.

Shouldn't be allowed, this cosy set up in business. I suspect it breaks a number of Business Conduct Guidelines.
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BlueGrover
Good Citizen

BlueGrover
Re: SMBC Hunts for Unaccounted Millions
16th June 2012 at 11:43AM
Mmmm. When the council has to make cuts of up to twenty million this does not help.

Big Issue anyone?
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Jeffb
Drifter
Re: SMBC Hunts for Unaccounted Millions
17th June 2012 at 10:40PM
Solutions sk doesn't suprise me, I remember they won or took most school contracts off the local minibus companies and had they're own minibuses do it, but amazing how tenders went in to solutions sk and hey presto they won a fair few of them!
I've heard a fair few story's about that company but then again nothing suprises me about this council!
I read about Dave goddards big fat pay check the other month, bet he's gutted now!
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vulcanman
Townsperson

vulcanman
Re: SMBC Hunts for Unaccounted Millions
26th June 2012 at 11:00AM
Can't say this is a big surprise at all. Makes you wonder about the stability of other organisations with supposed arms length relationships with the council such as Stockport Sport’s Trust.
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peterdevine123
Journalist

peterdevine123
Re: SMBC Hunts for Unaccounted Millions
13th July 2012 at 12:01PM
THE finance director suspended over the £4.5million gap in the accounts of council owned Solutions SK has resigned.
For more details check out the following link: http://menmedia.co.uk/stockportexpress/news/s/1583309_stockport-finance-boss-at-centre-of-missing-45m-crisis-quits
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glenandem
Citizen

glenandem
Re: SMBC Hunts for Unaccounted Millions
19th August 2012 at 3:32PM
Is it true that mp's had to sign a confidential form when they got the memo about this balls up?
And anyone know what the current situation is?
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BigTed
Villager

BigTed
Re: SMBC Hunts for Unaccounted Millions
20th August 2012 at 11:41AM
I could not agree more that these ‘proxy’ [yes I did spell that correctly] companies need to be stopped. They are simply a front for secretive practices. As an elected organisation you may serve the council with an FOI [freedom of information] request, which they MUST fulfil in its entirety within 20 working days. On the other hand a private limited company can simply ignore such a request.

Whilst I am not averse to using this very powerful tool to elicit all of the secrets and internal machinations of meeting minutes and accounts from the council – if somewhat rarely, one must ask; if the ‘Sports Tryst’ and ‘SSK’ were able to be called to account by you and me, would we have discovered this ‘discrepancy’ earlier?

Which raises the further question about the level of day-to-day auditing and internal accountability in such an organisation – dealing with our money. Are we being scammed by our own council?

We are told that the management of these companies is ‘at arms length’ – in other words ‘beyond our control’. Isn’t that the best of reasons to rein them in and put a stop to these Dell-Boy organisations?
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William_Wragg
Hazel Grove MP

William_Wragg
Re: SMBC Hunts for Unaccounted Millions
20th August 2012 at 1:50PM
I was sent redacted versions of the reports last week. I have not received the full version because I have not signed the 'confidentiality' document. My reason being that, other than names (for legal reasons) all the findings should be out in the open for the public to see.

I hope that the reports are going to be made available on the council's website soon.

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glenandem
Citizen

glenandem
Re: SMBC Hunts for Unaccounted Millions
21st August 2012 at 11:25AM
It's a bad situation when your council who spend or lose yours ours the people's money then try to hide things from joe public and won't even let local cllrs see the full docs unless they sign an agreement, probably the same people who have taken control of the money from the portals pilot scheme and not letting the public have a day so even the lad eho won us the funding!
They'll just put a few plants in the precinct or something and keep the rest lol!
Seriously though what is happening behind closed doors at Stockport council,maybe some heads really need to be rolled here as this isn't good enough for the Stockport public?
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