Warning auditors will come down on SIC like ‘ton of bricks’

The SIC’s St Ringan’s council chambers. Photo: SIC

The council has been warned it must be “much, much stronger” about making cuts – or face the wrath of auditors in years to come.

The SIC is currently setting its budgets for the forthcoming financial year, with stark financial decisions to be made – and a financial shortfall of £106 million to plug by 2026.

An unsustainable draw of £4.8 million will also be made from the council’s reserves for 2023/24.

Councillor Robert Thomson said he was concerned the council had “kicked the can down the road” for more cuts to have to be made next year.

“There has to be a much, much stronger effort,” he said.

“The Accounts Commission will come down on us like a ton of bricks.”

Around £18 million has been taken from the harbour board to fund this year’s budget, but Mr Thomson said that was “an accident waiting to happen”.

And he estimated that council may need to cut as much as £16 million from next year’s budget to help balance the books.

The budget for the 2023/24 financial year will be discussed at Wednesday’s full council meeting.