Issue - meetings

REPORT OF THE SERVICE DIRECTOR – RESOURCES

For the Committee to approve the audited Statement of Accounts for 2021/22.

RESOLVED:

1.    That the Committee noted the 2020/21 Annual Statement of Accounts (addendum version), as set out in Appendix A (addendum).

2.    That the Committee noted the audit work completed to date, the findings from that work and the resultant changes made to the Statement of Accounts.

3.    That, subject to the final audit work not requiring any substantial changes to the Statement of Accounts, the Committee delegated to the Chair of the Committee the final approval of the 2021/22 Annual Statement of Accounts. This will include confirming that the Chair of the Committee can sign the Statement of Accounts to confirm that they have been approved by the Committee.

REASON FOR DECISIONS:

1.    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 – 31 minutes 55 seconds

The Service Director – Resources gave a verbal presentation and advised:

·         The accounts were not finalised yet.

·         The additional recommendation would delegate the Chair of the Committee to sign off the Accounts once the audit was complete on the basis that there were no significant changes.

·         The report detailed processes and timescales for the Statement of Accounts.

·         Paragraph 8.2 summarised the adjustments that the Council were looking to make.

·         One adjustment related to duplicate expenditure which was primarily found in the material balance for Hitchin Town Hall and District Museum.

·         When work on the building was carried out, expenditure was added to the fixed asset register to increase capital value. The asset was revalued subsequently and should have been readjusted down to the revalued total.

·         Other adjustments and impacts were detailed in the report and had no impact on the General Fund.

·         Paragraph 8.5 detailed that the Council was not aware of any events that had occurred since the year end that provided additional evidence of conditions or that affected the Statement of Accounts.

·         The Council were planning to make changes for all items. It was unsure if adjustments would be made for the minor error on the Pension Fund.

In response to questions from John Cannon, the Service Director – Resources advised in Local Authority accounting the depreciation charge was charged to the service line and then removed to unusable reserves. In relation to the Control Frameworks, the Council would keep aware of the CIFA guidance.

Councillor Sean Nolan proposed, Councillor  Clare Billing seconded and after a vote, it was:

RESOLVED:

(1)  That the Committee noted the 2020/21 Annual Statement of Accounts (addendum version), as set out in Appendix A (addendum).

(2)  That the Committee noted the audit work completed to date, the findings from that work and the resultant changes made to the Statement of Accounts.

(3)  That, subject to the final audit work not requiring any substantial changes to the Statement of Accounts, the Committee delegated to the Chair of the Committee the final approval of the 2021/22 Annual Statement of Accounts. This will include confirming that the Chair of the Committee can sign the Statement of Accounts to confirm that they have been approved by the Committee.

REASON FOR DECISIONS:

(1)  To ensure that the Council abides by the Audit and Account Regulations 2015, which require the approval and publication of audited Statement of Accounts.