Decision details

The committee received the draft statement of accounts 2011/12.  Councillors noted that under the financial reporting rules, the chief finance officer had the responsibility to approve the draft statement of accounts for submission to the external auditor by 30 June 2012.  This he had done.  The accounts were brought to the committee for councillors to consider the process for the production of the accounts.  At its meeting in September, the committee would be required to approve the final accounts having obtained assurance that they had been prepared properly in accordance with the accounting regulations. 

The committee welcomed the opportunity to consider the draft accounts and thanked the officers for providing training on the committee’s role.  Councillors suggested the following amendments:

• On page 10 under the heading ‘fixed assets’, add a reference to the relevant note to the accounts
• On page 17 on the balance sheet, add a reference to the relevant note for short term investments
• On page 80, update the glossary to include definitions for CIES, MIRS, and CFS 

RESOLVED: To

(a)               request the officers to organise a question and answer session on the statement of accounts in early September; and

(b)               remind the relevant councillors that they need to complete and return their related party transactions form to the council.