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AUDIT, GOVERNANCE & STANDARDS COMMITTEE |
13 November 2023 |
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Statement of Accounts 2021/22 |
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Will this be a Key Decision? |
No |
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Urgency |
This needs to be considered as an urgent item as the Statement of Accounts had not been finalised on the date the agenda for this meeting was published. |
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Final Decision-Maker |
Audit, Governance & Standards Committee |
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Lead Head of Service |
Mark Green, Director of Finance, Resources & Business Improvement |
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Lead Officer and Report Author |
Paul Holland, Senior Finance Manager
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Classification |
Public |
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Wards affected |
All |
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Executive Summary
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This report presents the audited Statement of Accounts for 2021/22, along with the Audit Findings Report from Grant Thornton, the Council’s external auditors, and the Letter of Representation.
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Purpose of Report
The report enables the Committee to formally approve the Statement of Accounts, and to note the Audit Findings Report and Letter of Representation.
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This report makes the following recommendations to the Audit, Governance & Standards Committee: |
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1. That the audited Statement of Accounts for 2021/22 are approved. 2. That the external auditor’s Audit Findings Report is noted. 3. That the Letter of Representation is noted. |
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Statement of Accounts 2021/22 |
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1. CROSS-CUTTING ISSUES AND IMPLICATIONS
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Issue |
Implications |
Sign-off |
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Impact on Corporate Priorities |
We do not expect the recommendations will by themselves materially affect achievement of corporate priorities. However, they will support the Council’s overall achievement of its aims in demonstrating accountability and value for money. |
Director of Finance, Resources and Business Improvement (Section 151 Officer) |
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Cross Cutting Objectives |
There is no specific implication, however sound financial management does support the delivery of the Council’s cross cutting objectives. |
Director of Finance, Resources and Business Improvement (Section 151 Officer) |
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Risk Management |
This is addressed in Section 5 of this report. |
Director of Finance, Resources and Business Improvement (Section 151 Officer) |
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Financial |
The Statement of Accounts provides an overview of income and expenditure for the financial year to 31 March 2022, and details the council’s assets, liabilities and reserves at this date. |
Senior Finance Manager (Client) |
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Staffing |
There are no specific issues arising. |
Director of Finance, Resources and Business Improvement (Section 151 Officer) |
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Legal |
Under section 151 of the Local Government Act (LGA 1972), the Section 151 Officer has statutory duties in relation to the financial administration and stewardship of the authority, including advising on the corporate financial position and providing financial information. The Council is required to produce a statement of account in accordance with the Accounts and Audit (England) Regulations 2015.
It is a function of the Audit, Governance and Standards Committee to review and approve the annual statement of accounts and to consider if appropriate accounting policies have been followed and whether there are concerns arising from the financial statements or from the audit that need to be brought to the attention of the Policy and Resources Committee or Council.
The Statement was required to be signed off by the Director of Finance, Resources & Business Improvement by 31st July 2022 and following the external audit to be approved and published by 30th November 2022. |
Team Leader (Contentious and Corporate Governance) |
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Information Governance |
The recommendations do not impact personal information (as defined in UK GDPR and Data Protection Act 2018) the Council processes. |
Policy and Information Team |
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Equalities |
There is no impact on Equalities as a result of the recommendations in this report. An EqIA would be carried out as part of a policy or service change, should one be identified.
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Equalities and Communities Officer |
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Public Health
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The recommendations will not negatively impact on population health or that of individuals. |
Public Health Officer |
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Crime and Disorder |
There are no specific issues arising. |
Director of Finance, Resources and Business Improvement (Section 151 Officer) |
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Procurement |
There are no specific issues arising. |
Director of Finance, Resources and Business Improvement (Section 151 Officer) |
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Biodiversity and Climate Change |
The implications of this report on biodiversity and climate change have been considered and there are no direct implications on biodiversity and climate change.
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Biodiversity and Climate Change Manager |
2. INTRODUCTION AND BACKGROUND
2.1 The Council was required to have its audited Statement of Accounts approved by the Audit, Governance & Standards Committee by 30th November 2022 in accordance with the amended Accounts & Audit Regulations.
2.2 Members will be aware that the deadline was not achieved for a number of reasons that have been outlined in previous reports to the Committee. However, all the outstanding issues have now been successfully resolved and the auditors have indicated that they will be issuing an unmodified audit opinion.
2.3 This report includes the updated Statement of Accounts, the External Auditor’s Audit Findings Report and the Letter of Representation.
2.4 A representative from Grant Thornton will be in attendance at the meeting to present their Audit Findings Report and to take any questions that Members may have.
3.1 The Committee is asked to approve the Statement of Accounts 2021/22 and note the contents of the Audit Findings Report and the Letter of Representation.
4. PREFERRED OPTION AND REASONS FOR RECOMMENDATIONS
4.1 That the Statement of Accounts 2021/22 is approved so they can be signed by the Director of Finance, Resources and Business Improvement and published on the Council’s website.
5. RISK
5.1 Any further delays would impact on the audit of the 2022/23 Statement of Accounts which cannot commence until these Accounts are approved and published.
6. CONSULTATION RESULTS AND PREVIOUS COMMITTEE FEEDBACK
6.1 Members of the public have legal rights to inspect, ask questions about and
challenge items in the Council’s accounts. Details of this were published on the Council’s website and the statutory period ended on 30th August 2022. No enquiries were received in relation to this.
7. NEXT STEPS: COMMUNICATION AND IMPLEMENTATION OF THE DECISION
7.1 The audited Statement of Accounts will be published on the Council’s website.
8. REPORT APPENDICES
· Appendix 1: Statement of Accounts 2021/22
· Appendix 2: External Auditor’s Audit Findings Report
· Appendix 3: Letter of Representation
9. BACKGROUND PAPERS
None.