Decision details

Report by Chief Financial Officer (attached)

Decision Maker: Council

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No


Council considered a report by the Chief Financial Officer (circulated previously) regarding the Statement of Accounts for 2019/20.  The Chief Financial Officer advised that the draft Statement of Accounts for year ended 31 March 2020 was signed by the Chief Financial Officer on 22 July 2020.  Normally, the final date for published, audited accounts was 31 July, however this year due to Covid-19 this was extended to 30 November 2020.  The Covid-19 pandemic only started to make a notable impact upon the public and businesses in the last two weeks of March; and thus not had a dramatic impact upon these draft financial statements for period to 31 March 2020; the real budgetary impact of Covid affects the financial position of the Council post April 2020.  The External Audit of Accounts started on 8 Sept 2020.  The Audit Findings Report was presented to the Governance Committee which gave an Unqualified Opinion on Financial Statements/Value for Money Conclusion and four recommendations following Key Findings which had been accepted by management and responses built into the Action Plan.  The Accounts were required to be formally signed off at Council.  He outlined the narrative report which set out the challenges the Council faced, how those challenges would be met and reviewed the last financial year 2019/20; the main statements; accounting policies; notes to the Accounts.  He advised of an amendment to Note 4 “Accounting Standards that have been issued but not yet been adopted” as follows: “In response to the Covid 19 pandemic, CIPFA/LASAAC deferred the implementation of IFRS 16 Leases in the public sector until 1 April 2021. This will require lessees to recognise assets subject to leases as right-of-use assets on their balance sheet, along with corresponding lease liabilities (there are exceptions for low-value and short-term leases).”  He outlined the Auditors report as detailed on page 123 following the conclusion of the audit and presentation of their audit findings report to Governance Committee on 5 October 2020.  He advised that the Medium Term Financial Plan would be presented to the next meeting of Council.


Councillor Roome presented the recommendations of the Governance Committee held on 8 September 2020 and 5 October 2020 (circulated previously).


It was moved by Councillor Roome and seconded by Councillor Biederman that the recommendation in the report be adopted.


RESOLVED that theStatement of Accounts 2019/20 be approved, and that the Chairman of the Council sign and date the Statement of Accounts as required by the Accounts and Audit Regulations.


Publication date: 09/11/2020

Date of decision: 07/10/2020

Decided at meeting: 07/10/2020 - Council

Accompanying Documents: