Issue - meetings

This report presents the 2022/23 Statement of Accounts, Grant Thornton’s Audit Findings Report, and the Auditor’s Annual Report following the external audit.

The report presented the 2022/23 Statement of Accounts, Grant Thornton’s Audit Findings Report, and the Auditor’s Annual Report following the external audit.

The following matters were considered:

a)            Increased Costs. A Member of the Committee asked if the increased costs spilt between the Council and Grant Thornton have been agreed or if they are still only a proposal. The Chief Finance Officer responded to inform the Committee that the final fee has not yet been agreed yet, it will be referred to Public Sector Audit Appointments Ltd., who managed the External Audit contact, and they will adjudicate on the final fee. A Member of the Committee asked how long a delay from Council Officers caused this increased cost. The Chief Finance Officer explained that there were resourcing challenges on both sides, which contributed to the delay. The Representative from Grant Thornton informed the Committee that the delay was days, not weeks or months.

b)            Valuation of properties. A Member of the Committee asked if the valuation of properties, on page 36, which shows a new decrease of £2.4million, is roughly in line with the sector or something quite different. The Chief Finance Officer responded to explain that the Council’s properties are externally valued, and the valuations typically move in line with the overall external market.

c)            Alexandra Rec Martial Arts Centre. A Member of the Committee asked about the tender process for the Alexandra Rec Martial Arts Centre and the reasoning behind why the process has gone overbudget. The Chief Accountant agreed to provide a written response after the meeting. The Chief Finance Officer noted the comments and agreed to feed back to the Property Team.

Following consideration, the Committee unanimously resolved to:

(1)      Approve the Statement of Accounts for the year ended 31 March 2023;

(2)      Receive the Audit Findings for 2022/23;

(3)      Agree the management action in response to the audit recommendations detailed at Appendix A of the Audit Findings report;

(4)      Authorise and agree that the Chair or Vice Chair of Audit and Scrutiny Committee and the Chief Finance Officer sign the Statement of Accounts and Letter of Representation on behalf of the Council;

(5)      Nominate and authorise the Chief Finance Officer, in consultation with the Chair or Vice Chair of Audit & Scrutiny Committee, to make any further amendments to the 2022/23 Statement of Accounts;

(6)      Receive the Auditor’s Annual Report for 2022/23;

(7)      Agree the management actions in response to the recommendations in the Auditor’s Annual Report;

(8)      Note that the Auditor’s Annual Report will also be presented to the next meeting of Full Council.