Issue - meetings

Audit Commission's Opinion Memo to FD (Finance Director?)

Meeting: 14/01/2009 - Audit and Governance Committee (Item 33)

33 Audit Commission's Opinion Memo to the Finance Director pdf icon PDF 184 KB

To consider the Audit Commission's Opinion memorandum to the Finance Director. 

Minutes:

The Committee received and considered the Audit Commission’s Opinion Memo to the Council’s Finance Director.  This summarised the findings from an interim review of the Council’s financial statements and material financial systems in 2007/08.  The external auditor, Anne Ockleston, presented her report.  She believed that the arrangements for closing the ledger and preparing the financial statements had worked well with the papers being produced in a timely manner. 

 

Some of the issues referred to in the opinion had previously been raised in the report to the Committee on 22 September 2008.  However, there were two further issues that required action.  The first was that minor discrepancies within the bank reconciliation should be investigated and written off if appropriate.  The second was that the investment property control account should be used correctly as a control account, reconciling the expected rental to the payments received.  The officers agreed to action the two issues raised by the auditor.  With regard to the investment property control account, reconciliation was carried out annually at the year end but a more regular check might be employed to assist this. 

 

The Committee thanked the external auditor for her report and noted that it was a shorter report this year due to improved working papers from the Council’s Accountancy staff. 

 

RESOLVED

 

that the Audit Commission’s Opinion Memo to the Finance Director dated December 2008 be received and that the two items listed in the action plan be implemented. 


 

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