Decision details

The Director for Corporate Services submitted a report to submit the Statement of Accounts, Subject to Audit, for 2017/18, which have been prepared in accordance with the Accounts and Audit Regulations 2015 and to inform of the key issues within the accounts.

The Local Audit & Accountability Act 2014 requires that local authorities publish an audited copy of their Statement of Accounts by 31 July, from 2017/18, instead of the previous date of 30 September. The Finance team have complied with this regulation and this has been a tremendous achievement and is testament to the hard work and dedication they have put in to achieve this as well as the support they have received corporately. There were challenges in getting all the transactions included prior to starting to compile the accounts. This has meant, however, that the closedown and accounts in some areas have to be produced based on the use of more estimates rather than waiting for more accurate figures. It is important for members to recognise this as it could result in more changes post audit or in the next financial year if carry forwards/accruals are not as accurate.

The earlier closedown date requires that the final audited version be presented to the Governance Committee on 24^th July 2018 for approval. It is also a requirement for the Narrative Statement to be published with the audited accounts and this document contains information  regarding the council and its operation alongside financial performance. The Corporate Improvement Team will be doing more work on presenting performance figures for the Narrative Statements in future years.

Councillor Rhodes moved the recommendations and Councillor de Burle seconded.

All members were unanimously in favour.

RESOLVED that:

1)  the Statement of Accounts Subject to Audit for 2017-18 as attached at Appendix A be noted;

2)  the Narrative Statement as attached at Appendix B be noted