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Review of our finances

In January 2025, we took part in a financial review, known as the Local Government Association (LGA) Finance Peer Challenge. This was carried out by experts from the LGA. They looked at how we manage our money and how we plan for the future.

The review team looked at six main themes:

  1. financial leadership  - does the authority have plans for its long-term financial sustainability, which are owned by its Members and officer leaders?

  2. financial strategy, planning and forecasting - does the authority understand its short-and long-term financial prospects?

  3. decision- making and governance - are key decisions taken in the understanding of the financial implications, risks and options? Are Audit and Scrutiny effective?

  4. financial outcome - are financial results (including those of the Council’s investments and transformation projects) monitored and acted upon to realise the authority’s intentions? Are financial controls robust?

  5. partnership and Innovation - is finance at the cutting edge of what the authority is working to achieve, working with partners, and seeking innovative approaches?

  6. Children’s Services – to provide feedback on Children’s Services given the budget pressures and demand challenges in this area, in particular focusing on (within children’s): governance; behaviours; finances and managing demand; and budgets

What’s working well?

The review team saw many positives, including:

  • staff take pride in working for Bexley
  • Bexley operates efficiently, spending less per resident than the average London borough
  • temporary accommodation costs are well-managed, bucking the trend of overspending seen across London
  • financial leadership is recognised as a key strength within the organisation
  • elected members demonstrate strong financial understanding, with clear expectations around budget ownership and accountability
  • there is a clear ambition to tackle financial challenges through meaningful change
  • finance and service teams now work more closely together
  • Children’s Services leadership is highly motivated to drive transformation and improve service delivery

What happens next?

The review gave us twelve recommendations. We have now created an action plan to show how we will work on these. 

You can find the full report and action plan on the links below:

Read feedback report - LGA finance peer challenge (January 2025)

Read our action plan - LGA finance peer challenge (January 2025)