Statement of Accounts for 2021-22
The Charter Trustees are asked to approve the statement of accounts for 2021/22.
Minutes:
The RFO presented the Statement of Accounts for 2021-22 as set out in the AGAR which draws upon the Outturn Report previously presented.
The RFO reported on the value of the fixed assets and civic regalia and the insurance valuation of £1.2 m. He reported that it had not changed since last year as it was revalued every five years in line with the insurance policy.
If approved the statement would be signed off by the RFO and the Chairman.
Clarification was sought on the valuation of the Civic Regalia and where it would be located in Poole. The RFO reported that everything of high value was covered by the insurance policy as per the asset register. The Deputy Head of Democratic Services reported that appropriate arrangements were being made for the assets to be stored within relevant locations. She explained the current position relating to the insurance cover which included testing the market to enable the Charter Trustees to make arrangements for their own insurance cover. In response to a question the RFO reported that the rooms at the Poole Civic Centre would be covered under the building insurance for the whole Civic Centre. A Charter Trustee raised concern about the reported valuation of the Civic Regalia and suggested that re-evaluation should be undertaken. Councillor Brown commented on the arrangements for insurance cover which was currently under contingency arrangements with the BCP Council and requested a report back to the next meeting of the Charter Trustees on insurance valuations, cover and the options available. The Deputy Head of Democratic Services reported that it was expected that a report would be submitted to the Charter Trustees at the next meeting in October on this issue.
Councillor Daniel Butt sought clarification on the location for the assets highlighting that they should be located in Poole. Councillor Hadley referred to the email which had recently been circulated to all Charter Trustees providing assurance that these items would be securely stored within the BCP area and that we need to trust officers to make appropriate arrangements whilst highlighting that this was an interim situation.
RESOLVED
(a) that the Statement of Accounts for 2021-22 be approved.
(b) that a report be submitted to the next meeting of the Charter Trustees on the arrangements for insurance cover for Charter Trustee assets.
Voting – Agreed