Issue - meetings

To consider the report of the Strategic Director for Corporate Resources.

The Strategic Director for Corporate Resources presented the Statement of Accounts 2022/23 making the following points:

• that the only change was to add the critical judgement note;
• reassurance was offered that the issue of classification of the Guildhall Shopping Centre did not affect the us of surplus funds in line with government guidance; and
• whether investment or operational the impact on the tax payer was zero.

The Strategic Director for Corporate Resources and Head of Service – Finance answered Members’ questions making the following points:

• the amount shown under salaries under Member Allowances was NI contributions;
• Grant Thornton had full access to Exeter City Living accounts and the associated audit;
• Clifton Hill had been purchased back;
• There had been no impact on single entity accounts but ECL was reflected in group accounts;
• Capital was separate therefore does not show in revenue account;
• Property assets did not have usual market value but value of reinstatement therefore appeared lower than expectation;
• That Red book valuations had been used which is standard RICS methodology; and
• HRA value stock every year which explained variation but no impact on rent.

The Audit and Governance Committee approved the Statement of Accounts 2022/23.