A young accountant at Nexus has been honoured by his profession for his work on a project to improve local bus services.
Tom Clarke received an award from the Chartered Institute for Public Finance and Accountancy (CIPFA) in recognition of his outstanding contribution to public finance and accountancy in the North East.
Tom, who lives in Gateshead and only achieved chartered status in 2012, worked for almost two years on complex financial modelling which underpinned the North East Combined Authority’s proposal to franchise bus services through a so-called quality contracts scheme.
Presenting the award, CIPFA North East President, Clive Johnson said: “His role as project accountant not only involved working late and preparing detailed and complex financial modelling – the duties normally associated with an accountant – but being cross examined for two whole days by barristers.
“Throughout the past 18 months, Tom’s conduct and approach has been exemplary, he has worked incredibly hard, showing maturity beyond his years and going above and beyond what I would normally expect of an accountant with his experience.”
The proposal which Tom worked on for the Combined Authority was praised by the Government’s Quality Contracts Scheme Board as one which would have created a transport system unrivalled in Great Britain outside London.
The Board said the proposed scheme had the potential to improve the lives of Tyne and Wear citizens – although it ruled against its introduction saying bus companies would need to be compensated for profits they might lose in future years.
David Smith of Ernst and Young LLP who sponsored the award added: “Ultimately, the Traffic Commissioner ruled against Nexus but this does not take away from Tom his outstanding contribution to public finances in the North East.”
Tom, originally from Skipton in North Yorkshire joined Nexus in 2008- as part of the public bodies’ graduate recruitment scheme, having graduated in Economics at Newcastle University.
John Fenwick, Director of Finance and Resources at Nexus, added: “Tom’s calm and confident assurance under great pressure stood out throughout this project.
“A number of people in Nexus worked exceptionally hard to produce the first proposal of its kind in the UK, a process which has started a national debate about the best ways to deliver local transport. I am delighted to see Tom recognised for his role in that team.”