A 'best value notice' is a formal warning from the government that Somerset Council is not meeting these standards and urging it to take action. Somerset Council deputy leader Liz Leyshon and leader Bill Revans (Image: Somerset Council)"We have not in any way sought to keep from anybody the difficulties that our finances have been under, virtually right from day one. Somerset Council chief executive Duncan Sharkey (Image: Somerset Council)"Despite receiving financial support, we are still in a fragile financial position and the scale of the financial challenge is still very significant. Somerset Council's headquarters at County Hall on The Crescent in Taunton. A formal update on the council's progress against the best value notice will come before its audit committee by late-November.