Issue - meetings

This report presents the 2019/20 Statement of Accounts and Grant Thornton’s Audit Findings Addendum following the external audit.

Following consideration, it was resolved that the Committee:

(1)      Re-approved the Statement of Accounts for the year ended 31 March 2020;

(2)      Considered the amendment to the Statement of Accounts since 22 September S&R Committee, as set-out in the Audit Findings Addendum;

(3)      Agreed the management action in response to the audit recommendations within the Audit Findings Addendum;

(4)      Agreed that the Chairman or Vice Chairman of Strategy and Resources Committee and the Chief Finance Officer sign the Letter of Representation on behalf of the Council;

(5)      Delegated any further amendments to the 2019/20 Statement of Accounts to the Chief Finance Officer in consultation with the Chairman or Vice Chairman of Strategy and Resources Committee.

The Committee received a report presenting the 2019/20 Statement of Accounts and Grant Thornton’s Audit Findings Addendum following the external audit.

The Committee received a verbal introduction to the report from Sarah Ironmonger on behalf of Grant Thornton (the External Auditor).

The following matters were considered:

a)            Reason for re-approval: Members noted that this report was recommended for re-approval from when it was previously heard and approved at the previous Committee meeting in September. It was noted that it was usual to have some outstanding items on the Annual Statement of Accounts, but rare for it to have to come back to the Committee to be re-approved based upon amendments. The Committee noted that the reason for re-approval was to exercise good practise as the addendum included some changes in wording to Note 4 and some minor changes to disclosure notes.

b)            Emerald House: Members noted the reasons why some of the aspects of the Emerald House property had been initially missed. It was noted that Emerald House will not be an income generating property until 2022, as it sits currently in a two-year rent-free period following acquisition. It had been omitted from the Council’s accounts as no rent is due until 2022, but has since been included for future years.

Following consideration, it was resolved unanimously that the Committee:

(1)      Re-approved the Statement of Accounts for the year ended 31 March 2020;

(2)      Considered the amendment to the Statement of Accounts since 22 September S&R Committee, as set-out in the Audit Findings Addendum;

(3)      Agreed the management action in response to the audit recommendations within the Audit Findings Addendum;

(4)      Agreed that the Chairman or Vice Chairman of Strategy and Resources Committee and the Chief Finance Officer sign the Letter of Representation on behalf of the Council;

(5)      Agreed to delegate any further amendments to the 2019/20 Statement of Accounts to the Chief Finance Officer in consultation with the Chairman or Vice Chairman of Strategy and Resources Committee.