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External Auditor's Annual Audit Letter

Meeting: 21/11/2016 - Audit, Governance and Standards Committee (Item 46)

46 External Auditor's Annual Audit Letter pdf icon PDF 59 KB

Additional documents:

Minutes:

The Committee considered the External Auditor’s Annual Audit Letter summarising the main findings from the work undertaken by the External Auditor for the year ended 31 March 2016.  It was noted that:

 

·  The External Auditor had given an unqualified opinion on the Council's accounts on 22 September 2016, in advance of the 30 September 2016 national deadline.

 

·  The External Auditor was satisfied that in all significant respects the Council had put in place proper arrangements to secure economy, efficiency and effectiveness in its use of resources for the year ending 31 March 2016.

 

In response to a question regarding the references made in the Annual Audit Letter to income generation (specifically, the additional income achieved against targets and whether it was a one-off sum or an income stream that could be base budgeted for), the Director of Finance and Business Improvement explained that the budget for 2016/17 required savings of £2,178k to be identified.  Of this £679k came from additional income generation, including items which did not form part of the commercialisation agenda.  The Council had set a target of delivering £1m of additional income from its commercialisation agenda over the medium term, and £460k had been delivered to date.  A report would be considered by the Policy and Resources Committee later in the week reviewing the progress made on commercialisation initiatives.

 

RESOLVED:  That the External Auditor’s Annual Audit Letter for the year ended 31 March 2016, attached as Appendix I to the report of the Director of Finance and Business Improvement, be noted.