Issue - meetings

To present the unaudited Financial Statements including Narrative Report and Draft Annual Governance Statement for the Committee’s review, in line with best practice (report of the Deputy Chief Executive Corporate Development enclosed).

Consideration was given to the report of the Deputy Chief Executive -  Corporate Development which presented the unaudited Financial Statements including Narrative Report and Draft Annual Governance Statement for the Committee’s review, in line with best practice.

The Financial Statements production was complete, and shown at Appendix A was the unaudited version of the 2021/22 Financial Statements (this included the Comprehensive Income and Expenditure Statement, Movement in Reserves Statement, and Balance Sheet as at 31 March 2022, along with the Annual Governance Statement).

The timescales involved with the approval, inspection and audit of the Council’s Financial Statements for 2021/22 were:

·         S151 Officer signed Statements – 30 July 2022

·         Accounts available for Public inspection from – 31 July 2022

·         Audit by Ernst and Young commences – 12 September 2022

·         Unaudited Financial Statements to Committee – 22 September 2022

·         Financial Statements approved by Committee – To be confirmed

·         Auditor’s opinion on Statements issued by – To be confirmed

The Accounts had been prepared in accordance with the Code of Practice and the Council’s accounting policies, which were brought to the Committee in March 2022.  The draft Annual Governance Statement was presented within the unaudited Financial Statements.

The major changes in the Balance Sheet at the year end, considered significant enough to warrant specific reference were detailed within section 2.6 of the report.

Members were advised of the following errors:

·         Within section 2.7 of the covering report, SHDC’s share of PSPS Ltd was stated as 24% - the figure should be 28%;

·         Within the appendix, the pie charts on page 82 of the agenda pack were incorrect – the correct versions would be included in the final version

Members considered the report and the following points were raised:

·         Members commented that a Task Group looking at the operation of the South Holland Centre had recently concluded – would any of the financial information relating to this be included within these accounts?

·         Members commented that it was encouraging that the unaudited financial statements had been completed on time, despite external pressures.

·         Members referenced the training on the unaudited financial statements that had been due to take place earlier in the month, and requested that a new date for this be arranged and that explanation of public sector accounting be included.

AGREED:

That the unaudited Financial Statements 2021/22, including the Annual Governance Statement, be noted.