Issue - meetings

Report of Chief Officer (Resources)

The Committee received the report of the Chief Officer (Resources) seeking Member approval for the 2014/15 audited accounts to allow the completion of financial reporting for last year.

The Accounts had been produced by 30^th June 2015 and certified by the Section 151 Officer on that date.  They had been made available for public inspection and had been externally audited.  One adjustment relating to the revaluation of an asset had been identified during the audit; this had no impact on the outturn position for the General Fund. 

The Committee considered the adjusted and audited Accounts and noted the ‘letter of representation’, which was required by the Auditor in support of completing the audit, to be signed by the Section 151 Officer.

Richard Lee, Senior Manager, KPMG LLP (UK), guided Members through the Auditor’s formal report, which was set out at Appendix A, and reported the key issues identified during the audit of financial statements.

It was reported that once the Accounts had been approved and the letter of representation forwarded, KPMG would issue their opinion on the Accounts and the VFM arrangements.  The Audit would be concluded in due course and the audited Accounts published by 30^th September.

It was proposed by Councillor Hughes and seconded by Councillor Whitaker:

“That the recommendations set out in the report be approved.”

Upon being put to the vote, Members voted unanimously in favour of the proposition, whereupon the Chairman declared the proposal to be carried.

Resolved:

(1)        That the report for 2014/15 issued by the Council’s External Auditors be noted, together with the letter of representation to be signed by the Section 151 Officer.

(2)        That the audited Statement of Accounts for the financial year ended 31^st March 2015 be approved and that the Accounts be signed and dated by the Chairman.