LYDNEY Town Council has offered "a full and unreserved apology" to local electors for its financial failings.

A public meeting was held to discuss an Audit Commission investigation which found the council failed to authorise salary payments "over many years", failed to properly approve wage increases and issued cheques with only one signature contrary to local government rules.

The council's chief executive Jayne Smailes said: "Lydney Town Council acknowledges and openly accepts the findings and indeed the recommendations contained within the Public Interest Report produced by Moore Stephens – External Auditor appointed by the Audit Commission.

"The Council believes the report to be fair and accurate in content as it clearly identified the areas of financial governance and procedural failings of this council prior to December 2010, however the report also provides balance by noting information pertaining to the numerous procedural and financial areas that the council has addressed since employing a qualified clerk in September 2010.

"The town council listened long and hard to the views of those present (at the public meeting), answering many relevant questions.

"The council also formally resolved to accept the recommendations and to act upon them and has offered a full and unreserved apology to the electorate."

She said the council now aims to be more "transparent" and will "work tirelessly" towards restoring public confidence.