Derek Elliot, in his annual management letter to the council, also prasied clear strategic management, improved business planning, better action on debt, improving fraud arrangements and excellent preperations for Best Value.
Lambeth is the local authority once known as one of the worst run in the country but has seen steady improvements since the arrival of chief executive Heather Rabatts.
Council leader Jim Dickson said: ‘Our drive to root out waste and fraud, and provide for value for money services, is starting to work and will continue. This is a welcome endorsement of our approach.’
However, Cllr Paul Connolly, Lambeth secretary for finance, said the council still has some way and needed to ‘strengthen its grip’ on financial management’.
The District Auditor’s letter makes it clear financial systems require ‘tightening’ and ‘prudent budegets’ will be needed in coming years.
‘The introduction of business units to makes managers accountable for what they spend and our new financial system will help this,’said Connolly.
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