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Audited Statement of Accounts 2016/17

 

 

Meeting: 18/09/2017 - Audit, Governance and Standards Committee (Item 40)

40 Audited Statement of Accounts 2016/17 pdf icon PDF 82 KB

Additional documents:

Minutes:

The Committee considered the report of the Director of Finance and Business Improvement.

 

It was noted that:

 

·  Since the Committee saw the Draft Statement of Accounts for 2016/17 in June, there were no material changes to the figures.

 

·  The External Audit work had been completed since then and the Audit Findings Report, attached at Appendix A, detailed these findings. The Audit Findings Report made one recommendation, on page 28, which concerned record keeping for plant and equipment and this had been accepted by officers.

 

·  The Audit Findings Report included a review of Value for Money. It concluded that this Council had put in place the proper arrangements to secure Value for Money in its use of resources for the year ending 31 March 2017.

 

·  A Letter of Representation, attached at Appendix C, would be signed by the Chairman of this Committee and the Director of Finance and Business Improvement.

 

·  Changes to Local Audit Regulations, associated with the Local Audit and Accountability Act meant that from 2017/2018, the timetable for preparing and approving the accounts would be brought forward. This meant that the audit deadline would be brought forward to 31 July 2018 and because it was not practical to do so, it was recommended that the Final Statement of Accounts would be presented to this Committee in July only.

 

·  Officers agreed to circulate the Draft Statement of Accounts to this Committee for comment prior to the deadline on 31 May.

 

·  Officers also agreed to consider including a more detailed diagram in the Statement of Accounts 2017/18, showing the expenditure graphically in the same way that income was currently expressed.

 

RESOLVED:

 

  1. That the external auditor’s Audit Findings Report, attached at Appendix A, be noted.

 

  1. That the audited statement of accounts, attached at Appendix B, be approved.

 

  1. That the Letter of Representation, attached at Appendix C, be approved.

 

That the proposed approach to signing off future financial statements, as detailed at paragraph 2.11, be noted.