Issue - meetings

Review of Compliance with CIPFA Financial Management Code

 

 

Meeting: 25/05/2021 - Governance Committee (Item 9)

9 Review of Compliance with CIPFA Financial Management Code pdf icon PDF 174 KB

Report of the Director of Finance to follow.

Additional documents:

Minutes:

Louise Mattinson, Director of Finance presented a report to present the review of the Council’s compliance with CIPFA’s Financial Management Code.

 

Arising from questions by members, the Director of Finance indicated that the internal self assessment was not statutory, however we are expected to comply with the CIPFA Code.

 

As regards long term sustainability, therefore the 10 year financial plan was speculative; the Council receives a government settlement annually  and there are other variables such as the review of Business Rates.

RESOLVED :-

 

That the Committee notes:

1.     The publication of the Financial Management Code and the requirement for its application from 1 April 2020.

2.     That 2020/21 was a shadow year during which all local authorities have been working towards full implementation for the first full year of compliance in 2021/22.

3.     That an initial assessment has been carried out at APPENDIX A of the Council’s assessed level of compliance compared to the Standards contained in the Financial Management Code.

4.     The actions outlined in Appendix A of the report.