To consider the report of the Director Finance and Deputy Chief Finance Officer.
Minutes:
The Deputy Chief Finance Officer presented the report on the Council’s Statement of Accounts for 2020/21. It was a statutory requirement to publish the Statement of Accounts which are intended to provide a ‘true and fair view’ of the financial position and transactions of the Council, including the Group Financial Statement as at 31 March 2021. The ongoing challenges brought about by the coronavirus pandemic had continued, and the statutory deadline for publishing the audited accounts remained at 30 November 2021. She referred to the External Auditors report that the completion of the audit had been delayed, and that nevertheless it was anticipated that an unqualified audit opinion would be issued. Only a small number of audit adjustments and presentational changes had been identified during the course of the audit, all of which had been resolved. At the time of writing the report there were no key audit findings to draw to Members’ attention other than the recommendations reported as part of the Audit Findings report.
The Director Finance referred to the Annual Governance Statement (AGS) that had been approved at the Audit & Governance Statement in July and would accompany the final Statement of Accounts. He requested the following further statement be added to comply with the CIPFA guidance -
“To the best of our knowledge, the governance arrangements, as outlined in this AGS have been operating effectively during the year with the exception of those areas identified as significant issues. We propose over the coming year to take steps to address these issues in order to enhance our governance arrangements and are satisfied that these steps will address the need for improvements that were identified during the review of effectiveness. Progress against the action plan will be monitored quarterly by the Audit & Governance Committee
The following responses were given to Members:-
· Members would be made aware of any issues of concern in relation to the completion of the final statement.
· The accounts of all companies that Exeter has a material interest in are available at Companies House which can be made available to Members if requested. The full list of entities controlled or significantly influenced by the authority was included on page 85 of the report.
A Member sought further information on the narrative report into Building Great Neighbourhoods and a Government grant for £600,000 for the retrofit of 120 properties to improve their energy performance rating. She sought clarification as a £1.1m Government grant was also referenced in the narrative report to tackle fuel poverty and if this was the same grant. The Deputy Finance Officer would reply to the Member.
RESOLVED that the Audit and Governance Committee approve the audited Statement of Accounts for 2020/21, subject to the following additional recommendations that:-
(1) a revised statement be inserted, replacing the final approval comment of the Annual Governance Statement (AGS), which will now read:-
“To the best of our knowledge, the governance arrangements, as outlined in this AGS have been operating effectively during the year with the exception of those areas identified as significant issues. We propose over the coming year to take steps to address these issues in order to enhance our governance arrangements and are satisfied that these steps will address the need for improvements that were identified during the review of effectiveness. Progress against the action plan will be monitored quarterly by the Audit and Governance Committee; and
(2) any additional material changes to the accounts be delegated to the Director Finance and the Chair of the Audit & Governance Committee to be agreed and other Members of the Audit & Governance Committee subsequently informed.
Supporting documents: