Agenda and minutes

None.

RESOLVED:

That the minutes of the above meeting, having been circulated, be approved as a correct record.

None.

Report of the Head of Internal Audit (RSM).

Amjad Ali, Audit Manager (RSM), introduced a report, which had been circulated prior to the meeting, summarising the outcome of audit activity completed between December and March.

RESOLVED:

To note the report.

Report of the Head of Internal Audit (RSM).

Amjad Ali, Audit Manager (RSM), introduced a report, which had been circulated prior to the meeting, reporting audit activities during the 2017/18 financial year.

RESOLVED:

To note the report.

Report of the Deputy Chief Executive and Director of Finance.

Andrew Bush and Thomas Tandy (KPMG) presented the External Audit Report, which was circulated to members at the meeting, which gave opinion on the 2017/18 year.

RESOLVED:

To note the KPMG External Audit Report for 2017/18.

Report of the Deputy Chief Executive and Director of Finance

The Financial Services Manager explained that there were some outstanding queries from Council’s external auditors on this year’s accounts meaning there had been a delay in finalising them. She explained that it was hoped that the queries could be discussed and resolved within the coming days without missing the 31 July sign off deadline.

The Chair therefore proposed to adjourn consideration of the item until Tuesday 31 July in order to give officers the time to finalise the statement of accounts.

RESOLVED:

To defer consideration of the item until Tuesday 31 July, at a time to be agreed outside of the meeting, to allow the statement of accounts to be finalised.

Report of the Deputy Chief Executive and Director of Finance.

The Service Manager Financial Services introduced a report, which had been circulated prior to the meeting updating members on the current level of assurance that can be provided against each corporate risk.

RESOLVED:

To note the progress of actions identified within the Corporate Risk Register.

Report of the Head of Internal Audit (RSM).

Amjad Ali, Audit Manager (RSM), introduced a report, which had been circulated prior to the meeting, summarising the outcome of audit activity completed between April and July.

RESOLVED:

To note the report and actions taken or to be taken.

None.

The meeting adjourned at 6:15 pm

The meeting resumed at 2:30 pm on Tuesday 31 July 2018 with Councillor Feeney in the Chair and Councillors Barnes and Collis present.

Following the adjournment, the Service Manager Financial Services explained that the remaining queries from the Council’s external auditors, which concerned the valuation of some of the Council’s assets, had been resolved.

Andrew Bush (KPMG) explained that the External Audit Report (considered by the Committee as agenda item 6) had been changed to reference the fact that the valuation of assets had been agreed. The auditors did, however, recommend that an independent valuation of the Civic Centre building was obtained during 2018/19 to ensure that it was robust.

The Service Manager Financial Services introduced a report, which had been circulated prior to the meeting, seeking approval of the Annual Governance Statement and Statement of Accounts 2017/18. She explained that there were two amendments to make to the report as follows:

1)    To insert a new paragraph c) into paragraph 12 of the letter of representation to read “c) It is satisfied that the assumptions and basis of the property valuations are appropriate and reflective of local market conditions.”

2)    Replace page 108 of the agenda (the statement of responsibilities for the statement of accounts) with a new version of the document which makes the responsibilities of the Chief Financial Officer clearer, as appended to the minutes.

RESOLVED to:

1)    Approve the Annual Governance Statement for 2017/18 at Appendix 1 to the report;

2)    Following approval of the Annual Governance Statement, consider the Statement of Accounts for 2017/18 at Appendix 2 to the report;

3)    Approve the Statement of Accounts for 2017/18 at Appendix 2 to the report subject to including a revised statement of responsibilities for the statement of accounts;

4)    Note the Narrative Statement on pages 3 to 13 of the Statement of Accounts (appendix 2 to the report); and

5)    Agree the Letter of Representation at Appendix 3 to the report, subject to the amendment above.