Issue - meetings

Statement of Accounts 2018/19

Meeting: 19/11/2019 - Performance, Audit and Governance Oversight Committee (Item 228)

228 Statement of Accounts 2018/19 pdf icon PDF 71 KB

“Report to follow”

Additional documents:

Minutes:

The Executive Member for Financial Sustainability submitted a report setting out the background to the 2018/19 statement of accounts for Members to consider and approve.  The accounts provided details of the overall financial position in the balance sheet and details of the revenue activities for the General Fund and the Collection Fund.

 

Members were advised that the External Auditor’s Audit Results report was also shown within the Essential Reference Papers and these would be presented to the Committee by Ernst and Young LLP (EY).  The External Auditor thanked the Financial Services Manager and the Finance Business Partner, as well as Officers, for their continued support and understanding with regards to the delay in the Audit process this year, prior to the submission of this rescheduled Audit Report.

 

Members were advised that there were no matters to report in respect of the value for money conclusion and it was anticipated that an unqualified Auditor opinion would be issued.  Members were also updated in respect of the pension liability and the McCloud judgement in the context of the value of public sector pensions.

 

The External Auditor detailed the current status of the External Audit work and Members were updated in respect of a number of outstanding matters.

 

The External Auditor confirmed to Councillor L Corpe that the value for money audit work in respect of Old River Lane was complete pending the outcome of the judicial review.  Members were advised that this project would continue to be monitored as the development progressed.

 

The External Auditor updated the Committee in respect of timescales going forward for future Audit work.  The Chairman commented on the importance of ensuring that pension contributions were fully funded going forward.   The Finance Business Partner stated the impacts of the pension liability would be reported in the Annual Budget report.  The Chairman indicated that each recommendation would be taken individually.  This was supported.

 

Councillor L Corpe moved and Councillor A Alder seconded, a motion that the Council’s Statement of Accounts for the Financial Year 2018/19 be approved and the Chairman of the Performance, Audit and Governance Oversight Committee be authorised to sign the Council’s Statement of Accounts for the Financial Year 2018/19 at the conclusion of the meeting.

 

After being put to the meeting and a vote taken, this motion was declared CARRIED.

 

Councillor L Corpe moved and Councillor A Curtis seconded, a motion that the letter of representation be approved for signing by the Chairman of the Performance, Audit and Governance Oversight Committee and the Head of Strategic Finance and Property at the conclusion of the meeting.

 

After being put to the meeting and a vote taken, this motion was declared CARRIED.

 

Councillor S Bull moved and Councillor L Corpe seconded, a motion that the External Auditor’s Audit Results Report (ISA 260 report), be approved.

 

After being put to the meeting and a vote taken, this motion was declared CARRIED.  Members supported the recommendations as detailed in the report submitted.

 

RESOLVED – that (A) the Council’s  ...  view the full minutes text for item 228