Issue - meetings

This report presents an unaudited set of Accounts for 2020/21 in the format specified by the Code of Practice on Local Authority Accounting in the United Kingdom.

Due to its size Annex 1 – The Statement of Accounts – will be available as a supplement.

The report of the Director of Finance and Transformation presented an unaudited set of Accounts for 2020/21 in the form specified by the Code of Practice on Local Authority Accounting in the United Kingdom.   The Annual Governance Statement (referred to in Minute AU 21/34) accompanied the Statement of Accounts.

The total comprehensive income and expenditure for the year was £5.8m compared to -£7.2m in 2019/20. The net worth had decreased primarily due to a decrease in asset values which were foreseen to be short term and an increase in the Council’s pension liability.  Particular attention was made to the financial impact arising from the Covid-19 pandemic as detailed in the financial statement.

RESOLVED:  That

(1)        the unaudited set of Accounts for 2020/21 be noted and endorsed;

(2)        the Statement provided by the Director of Finance and Transformation in support of assertions made in the Statement of Responsibilities for the Statement of Accounts, as set out at Annex 3 to the report, be noted; and

(3)        the progress update on the audit of Accounts for 2020/21 be noted.