Agenda item

Report of the Corporate Director for Finance and Resources

Glen Hammons, Interim Finance Lead – Technical Finance presented a report which provided an update on the Statement of Accounts. The following information was highlighted:

a)  In regards to the 2019/20 accounts, the Council has responded to all queries and a revised set of accounts were submitted to Grant Thornton in November who are currently progressing through their quality assurance processes.

b)  Revised draft accounts have been completed for the 2020/21 accounts and this was done in December 2023.

c)  Draft accounts were completed in May 2024 for the 2021/22 accounts.

d)  Draft accounts for the 2022/23 accounts are expected to be completed in August 2024.

e)  The draft accounts need to go out for public inspection and this inspection period lasts for 30 working days. The 2020/21 and 2021/22 accounts are in a position to be put forward for the public inspection and the 2022/23 accounts will then follow.

f)  In order to move the accounts into the public inspection process it is proposed that in advance of that there will be consultation done with the Audit Committee Chair to ensure that Audit Committee have been engaged prior to the draft accounts being release for inspection.

g)  Based on current expectations, the accounts for 2020/21 and 2021/22 could meet the September backstop if it was in place. The 2022/23 accounts are unlikely to meet the September backstop date. This is all, however, subject to further risks and the potential for the backstop date to be pushed back.

h)  The preparation of the 2023/24 accounts will begin once the 2022/23 draft accounts have been completed. The report set out the indicative timelines but there are a number of risks to these, particularly with completing the audit opinion for the 2019/20 accounts, backstop dates, and staffing capacity.

The following points were raised in discussion:

i)  The Section 151 Officer is required to give a true and fair opinion on the draft accounts prior to them being released for public inspection.

Resolved:

1)  To take assurance the current position with the Statement of Accounts for the years 2019/20 through to 2023/24.

2)  To note the impact on the Council in meeting the proposed national backstop date due to external audit opinion for the draft 2019/20 Statement of Accounts scheduled to be presented to Audit Committee in September 2024.

3)  To take assurance from the indicative timeline and associated risks for publishing the Statement of Accounts for financial years 2019/20, 2020/21 and 2021/22 to meet the proposed national backstop dates as set out in Section 3.6 of the report.

4)  To note that, from the revised indicative timeline and associated risks draft Statement of Accounts for the financial year 2022/23, will not meet the proposed national backstop date as set out in Section 3.6 and a revised timeline has been identified.

5)  To take assurance from the progress, indicative timeline and associated risks for publishing the Statement of Accounts for financial year 2023/24 as set out in Section 3.7 of the report.

6)  To note that the draft Statement of Accounts for 2020/21, 2021/22 and 2022/23 will be published by officers for public consultation following consultation with the Chair.