Decision details

The Executive Member for Finance submitted a report setting out the Draft Statement of Accounts for 2013/14. 

The Director of Finance and Support Services stressed that the accounts were a draft, (and subject to audit), fully compliant with rules and regulations and that these would be made available on the Council’s website for public inspection.  The Director of Finance and Support Services provided a summary of changes, affecting the accounts, the detail of which was set out in the Explanatory Foreword.

The Director of Finance and Support Services explained the background to the underspend of £1.5Million against service budgets for the financial year 2013/14. 

In response to a query from Councillor D Andrews concerning planning income which had been offset by a number of planning appeal costs, the Director of Finance and Support Services explained how variances were managed in terms of timeframes and that many variances could be anticipated as part of the monthly healthcheck to scrutiny committees.  She assured Members that monitoring and controls would ensure that the Council would have resources in the right place when needed.

In response to a query from Councillor R Sharma concerning responses from the public once the draft accounts were published, the Director of Finance and Support Services explained that occasionally, someone would request an opportunity to examine the accounts and were entitled to ask questions of the External Auditor.  Last year, no objections to the accounts had been received.

The Accountancy Manager provided a response to a query from Councillor J Wyllie concerning the Council’s assets held for sale.  The Director of Finance and Support Services explained that before any decisions on disposal were taken, the best use of the asset would have been considered and matters such as yields, levels of sustainable income and any liability issue would have been taken into account.  The Director of Finance and Support Services explained that the report on the Treasury Management Strategy (see Minute 104) explained the approach to direct property investment in more detail.

The Accountancy Manager provided a response to a query from Councillor M Pope regarding the note on adjustments between the Accounting basis and Funding basis in the accounts.  The Accountancy Manager also agreed to provide a written response following Councillor D Andrew’s concerns about short term creditors.

In response to a query from Councillor M Pope, the Interim Principal Accountant provided a response regarding the need to restate the pension reserve.

The Director of Finance and Support Service provided background around the level of contingency liabilities.  An update in relation to the Municipal Mutual Insurance Scheme was considered and Members were advised that this had been recognised as a contingent liability in the Accounts.

The Committee received the Draft Statement of Accounts for 2013/14.

RESOLVED – that (A) the Draft Statement of Accounts be received; and

(B)      the Director of Finance and Support Services be authorised to issue the Council’s 2013/14 draft accounts in line with statutory processes.