Issue - meetings

To consider the attached Report.

The Assistant Chief Financial Officer presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'E' to these Minutes in the Minute Book.

The Committee was reminded that the draft financial statements for 2019/20 were approved at their meeting on 26 November 2020. Subsequently, at the meeting on 21 January 2021, the Committee noted the updated Audit Findings Report from Grant Thornton and agreed to delegate the signing of the Statement of Responsibilities and Letter of Representation to the Chair of the Committee and the S151 Officer once the audit work was complete.

It was reported that, since that date, the audit of the financial statements has been completed but, as further material adjustments have been made since their approval in November, they were being brought back for formal approval by the Committee.

The report therefore set out the findings of the Council’s external auditor following their audit of the Council’s statement of accounts for 2019/2020 and the key points to note were that Grant Thornton anticipated providing an unqualified opinion on the financial statements for the Council and anticipated issuing a qualified “except for” value for money conclusion due to the findings of the Ofsted targeted review of children’s services. The External Auditor referred to accounting process issues around valuation of land and buildings but expressed confidence in systems put in place to address these.

Reassurance was provided that, although there were some material adjustments being presented, they did not affect the overall financial position of the Council.

The Chairman of the Committee recorded his appreciation of the work of Officers in producing and completing the statements of accounts.

RESOLVED that the Audit and Governance Committee

(a)  Notes the anticipated audit opinions and audit findings of the council’s external auditor, included at Appendix A to this report to the Committee;

(b)  Approves the 2019/20 financial statements included at Appendix B;

(c)  Authorises the Chair of this Committee and the S151 Officer to sign the Letter of Representation included at Appendix C and the Statement of Responsibilities at Appendix D;

(d)  Approves the treatment of the unadjusted misstatement at Appendix E.

Voting: Unanimous