18 Statement of Accounts 2013/14
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Minutes:
The Senior Accountant
(Client) introduced the report of the Head of Finance and Resources
setting out the un-audited Statement of Accounts for 2013/14 which
had been produced in accordance with the CIPFA Code of Practice on
Local Authority Accounting in the United Kingdom 2013/14 and which
had been signed off by the Director of Regeneration and Communities
prior to being submitted for external audit.
The Committee asked a
number of questions of the Officers relating to:
- The funding of the
increased deficit on the Pension Scheme;
- The difference
between the annual and triennial Pension Fund valuations;
- The impact of the net
pensions liability on the viability/sustainability of the Council
and the mitigation of the impact through the fair apportionment of
shared services across the MKIP authorities;
- The actuarial
assumptions in relation to longevity;
- The results of the
impairment review of the Council’s asset portfolio;
- The provision for bad
debts; and
- The calculation of
depreciation in relation to infrastructure, community assets and
assets under construction.
RESOLVED: That
the unaudited Statement of Accounts for 2013/14 be noted prior to
the completion of the external audit process.