Maghull Town Council is having a thorough and detailed review of all of its finances to ensure the town's residents are getting value for money.
At its Finance and General Purposes Committee on Wednesday evening, the new controlling Labour Group on the council called for a full review of all of the town council's income and expenditure.
While they were obligated to rubber stamp some previous administration expenditure, such as the repairs to the roof of Maghull Town Hall, everything else will be subject to the review.
They are planning to make their findings known later in the summer.
Maghull Town Council leader and Labour Cllr Maurice Byrne, said: "Because there's now a new administration running Maghull Town Council, we want to ensure that we are getting full value for money for Maghull residents.
"We will fully analyse the books and draw up a long term budget on the back of what we find.
"Maghull Town Council provides some vital services to our community, we want those services to continue and improve, but we also want to eradicate any waste.
"This will all be within the remit of the full financial review and we will ensure that we devise a longer term budget on the findings."
Cllr Byrne said the new Maghull Town Council administration was financially obligated to agree the refurbishment of the roof.
He said: "What we did agree at the Finance and General Purposes Committee meeting was that we would honour the expenditure on the new roof because contracts had been agreed by the previous administration and the town council incur financial penalties if we broke the binding agreement.
"There was some debate from council members about validating the expenditure, but we found that it would be just too costly to withdraw from the deal at this stage.
"But while we are agreeing to support the previous administration's budget for the short term, the full council budget is now on the table and open for inspection before we make any further agreements.
"The people of Maghull pay enough as it is, we don't want to see any of that money squandered.
"And I can assure residents now, that - despite scaremongering from the losing parties - we have no intention of increasing the precept.
"We are committed to ensuring that we all get value for money out of Maghull Town Council."