To review the draft statement of accounts for 2010/11 and the supporting notes. An explanation of amendments made to date is set out at the beginning of the attached document.
At its meeting on 4 July 2011 the committee requested an explanation of a number of items in the draft statement of accounts. Responses to these are set out on pages 118-120.
The financial outturn 2010/11 report that Cabinet will considerat its meeting on 9 September has been circulated to committee members. This is provided to allow the committee to understand the background to the statement of accounts.
Minutes:
The committee reviewed the draft statement of accounts 2010/11 with the intention of carrying out a detailed scrutiny before approving it on 28 September.
The committee debated the following:
The committee also considered the financial outturn report to Cabinet. This allowed the committee to question whether the savings or expenditure shown in the statement of accounts were correct. The report explained the revenue underspend of £1.6 million in 2010/11, the changes in contributions to reserves, and the capital expenditure for the year. The committee thanked the officers for this report.
RESOLVED: To:
(a) update the statement of accounts by including an explanation of the £2 million expenditure on housing, either in the statement of accounts’ supporting notes or the explanatory foreword, and consulting the council’s external auditor on how best to do this;
(b) ensure that the rounded figures are consistent throughout the statement of accounts;
(c) raise a question with the District Auditor on the pension fund liability calculation and whether the supporting notes are sufficient; and
(d) request officers to provide relevant statements from the auditors to explain the retail price index and consumer price index funding adjustment in the statement of accounts (note 41).
Supporting documents: