Issue - meetings

Report of the Director of Finance will be to follow.

The committee considered the report of the Director of Finance which presented the Statement of Accounts for 2020/21 for approval. The Director of Finance explained that the committee had previously considered the unaudited statement of accounts in July 2021, this had been presented to the External Auditors and was back before committee for formal approval before the deadline of 30 September 2021.

Amendments had been made to the statement of accounts since it was considered in July 2021 as part of the further review and audit concluded by Grant Thornton. These adjustments had been summarised earlier in the meeting by the External Auditors.

Members commented that it was pleasing to see the pension fund investment increase substantially from £90 million to £99 million.

In response to a query, the External Auditor provided that their opinion would be given on Value for Money at the end of December, the opinion on the statement of accounts would be issued within the next couple of weeks. The draft opinion within the Audit Findings Report 2020/21 states an unqualified opinion would be issued. If any material changes were identified after the meeting, then a further report would be brought back to the next committee meeting.

Resolved: (Unanimously)

That the committee

1.    Approve the audited Statement of Accounts for 2020/21 subject to any amendments which, in the opinion of the Chief Financial Officer (Section 151 Officer), are minor in nature. Such amendments are to be defined as non-material to the financial position of the authority. The Chief Financial Officer will exercise this delegation in consultation with the Chair of Governance Committee. In the event the Chief Financial Officer is of the opinion the amendments are material to the financial position of the authority, Governance Committee will be reconvened to approve the new Statement of Accounts.

2.    Considers and approves the letter of representation contained at Appendix B and authorise the Chief Financial Officer and the Chair of Governance Committee to sign the letter.