The committee received a report of the Head of Finance.  She thanked the committee for their patience regarding the late publication of appendices 1 and 2 which had been delayed in order to capture the most up to date information in relation to the 2019/20 audit.  The 2019/20 accounts would be finalised in the near future.  The 2020/21 statement of accounts draft would be completed by July 2022. 

The Head of Finance gave an update on the 2021/22 statement of accounts.  There had been changes to reporting measures and she pointed the committee to paragraph 4.3 of the report for further detail.  This would help the sector when reporting.  She highlighted that many local authorities had struggled and at the present time 70 local authorities had not completed their statement of accounts for 2019/20.

Councillor Bell asked if there was any concerns for the 2020/21 statement of accounts.  The Head of Finance responded that there were no concerns at present however the main audit work was yet to be undertaken.  She expanded that the team had worked well and learnt lessons from the previous years.  Also that communication with external auditors had improved which had led to greater efficiency.

RESOLVED -

1.             That the Statement of Accounts for 2019/20 subject to any final adjustments by the Section 151 Officer (Director of Finance) be approved.

2.             that the Section 151 Officer be delegated to finalise the Statement of Accounts for 2019/20 in consultation with the Chair of the Audit Committee.

3.             that the committee authorises and instructs the Chair to sign the Statement of Accounts for 2019/20 once finalised and signed by the Section 151 Officer to confirm that the Statement of Accounts presents a true and fair view of:

(a)     the financial position of the authority at the end of the financial year to which it relates; and

(b)     that authority’s income and expenditure for that financial year

4.             That the Letter of Representation for 2019/20 be approved and that the Section 151 Officer and Chair of the Audit Committee be granted delegated authority to make any necessary changes resulting from the conclusion of the audit.

5.             That the draft Accounting Policies for 2021/22 be ratified