Issue - meetings

The Board considered a report of the Operational Director, Finance, which sought approval for the Council’s 2016/17 Statement of Accounts (the latest version of which was enclosed with the Agenda), and the report of the Audit Findings of the External Auditor (Grant Thornton) on the 2016/17 financial statements. The report also sought approval of the Council’s Letter of Representation.

It was reported that the Statement of Accounts set out the Council’s financial performance for the year in terms of revenue and capital spending and also presented the year-end financial position as reflected in the balance sheet. The key elements were detailed in the report.

It was noted that in overall net terms the Council reported an overspend of £0.559m on the 2016/17 revenue budget. Capital expenditure was £84.8m compared with planned expenditure of £122.0m.

The External Auditor presented the Audit Findings report which summarised the findings from 2016/17 external audit. Section 3 of the report also presented the External Auditor’s findings on the Value for Money (VFM) conclusion. It was noted that the overall conclusion was that the Council had proper arrangements in all significant respects to ensure it delivered value for money in its use of resources.

The Board wished to place on record their thanks to the Operational Director, Finance and the Finance Team for their work in the preparation of the accounts and to Grant Thornton for their work on the audit.

RESOLVED: That

1)    the draft Letter of Representation in Appendix 1 be approved and any subsequent additions or amendments by the Operational Director, Finance, in liaison with the Chair of the Business Efficiency Board;

2)    the External Auditor’s draft 2016/17 Audit Findings report in Appendix 2 be received and any subsequent additions or amendments be approved by the Operational Director, Finance, in liaison with the Chair of the Business Efficiency Board; and

3)    the Council’s draft 2016/17 Statement of Accounts in Appendix 3 be approved and any subsequent additions or amendments be approved by the Operational Director, Finance, in liaison with the Chair of the Business Efficiency Board.