Agenda item

8.1

The Assistant Director of Finance submitted a report communicating to Members any relevant matters arising from the external audit of the 2018/19 Statement of Accounts.

8.2

Ruth Matheson, Finance Manager, reported that the Council had met the statutory deadline for submitting its draft statement of accounts. Training had been provided for Members in considering the Statement of Accounts. The accounts had been audited and the external auditor’s report highlighted three adjusted audit differences and some more minor changes as a result. It was therefore requested that the Chair of the Committee and the Executive Director of Resources (as the Section 151 Officer) sign off the accounts. If the accounts were signed off they would be published on the Council’s website by 31^st July 2019.

8.3

In response to a question regarding Investment Properties, it was explained that these were the advertising hoardings and were assets the Council held as they may go up in value.

8.4

Councillor Mohammed Mahroof raised concerns regarding the affordability of termination benefits paid to staff and it was explained that although redundancies had the potential to have an impact on the Council’s financial position, the budget was usually underspent.  Redundancies were carefully assessed against strict criteria to ensure affordability and savings.  The Council was coping with increases in demand with the same amount of staff.  It was also the case that larger amounts paid out to staff were to those with longer service and/or higher up the pay scale which also resulted in larger savings for the Council.

8.5

RESOLVED: That the Committee:-

(a)  accepts the report to those charged with Governance (ISA 260) 2018/19; and

(b)  approves the Statement of Accounts for 2018/19 and authorises the Chair of the Committee to conclude the audit by signing the Letter of Management Representations and the Statement of Accounts for 2018/19.