Issue - meetings

RESOLVED: That the 2020/21 Annual Statement of Accounts, as set out in Appendix A, be approved and signed by the Chair of the Committee.

REASON FOR DECISION: To ensure that the Council abides by the Audit and Account Regulations 2015, which require the approval and publication of audited Statement of Accounts.

Audio Recording – 15:37

The Service Director – Resources presented the Statement of Accounts 2020/21 along with Appendix A and highlighted points including:

·                There had been changes to the Committee since the last iteration of this report that meant it was better to seek approval from the Committee rather than to rely on the delegation previously granted to the Service Director – Resources to sign the statement of accounts;

·                Changes to the report were also made on the basis that the previous version referred to events in the future that had now occurred;

·                Other amendments related to the matters already raised by Ernst & Young including the pensions valuation which was not considered material as it related to a value that was huge and subject to significant uncertainty and so not subject to alteration;

·                There was a similar situation with PPE valuations but as the figure reached was not material it was not felt necessary to adjust in the accounts; had it been material a re-valuation would have been necessary, or a justification for the figure given;

·                The report included a draft letter of representation that had been agreed with EY and that, with the approval of the Committee, would form the basis of the submission to EY regarding the variances already discussed;

·                Resourcing audits was difficult at present and EY were thanked for their work and assistance.

The following Members asked questions:

·                Councillor Terry Hone

In response to questions the Service Director – Resources advised that the figure mentioned at 8.4 in the report related specifically to North Herts’ potion of the pension fund and the total for the whole of Hertfordshire was much higher.

Councillor Terry Tyler proposed, Councillor Sean Nolan seconded and on the vote it was:

RESOLVED: That the 2020/21 Annual Statement of Accounts, as set out in Appendix A, be approved and signed by the Chair of the Committee.

REASON FOR DECISION: To ensure that the Council abides by the Audit and Account Regulations 2015, which require the approval and publication of audited Statement of Accounts.