THE District Auditor investigating Watford Council's finances described them as "unknown territory" and said there were "vast" problems with even the most basic financial systems.
Half a million pounds has been written off in the 2000/2001 accounts because of the failings. The amount is similar to next year's tax rises.
Among the most damning indictment of the 2000/2001 accounts was the DA's assertion there was "little evidence that systems are reconciled on a regular basis".
It led to £15 million in council tax payments appearing in an unexplained area, something the DA said "set alarm bells ringing".
The council, with a budget of more than £50 million, has for a second year failed to properly reconcile accounts.
Council leader Vince Muspratt said there was "no question" of him resigning over the matter.
For a full report, see the printed edition of The Watford Observer on Friday, February 22.
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