Purpose:       To submit the Council’s Statement of Accounts and Letter of Representation for approval and authorisation.

Recommendation(s):        That the Audit & Governance Committee:

a)            Approve the audited 2015/16 Statement of Accounts as certified by the Head of Financial Services and authorise the Chair of the Committee to sign the Accounts

b)            Approve the Letter of Representation to enable the opinion to be issued (paragraph 12)

c)                  Recommends to Council that the Council opt in to the national procurement of external auditors (paragraph 13)

The Committee considered the report of the Head of Financial Services setting out the Council’s final audited Statement of Accounts for the year ending 31 March 2016 and the Council’s letter of representation to the external auditors.

The Head of Financial Services presented the report.  He highlighted the main changes affecting the Statement of Accounts (as detailed in the report) and commented on the favourable variance on the General Fund and the Housing Revenue Account.  He thanked the finance and accounts team for their work in preparing the statement of accounts.

He briefed the Committee on the options available for the appointment of external auditors for the 2018/19 Accounts, explaining the reasons for his recommendation that the Council should opt in to the contractual process being led by the PSAA (Public Sector Audit Appointments Ltd).

Cllr Price left the meeting at this point.

The Committee resolved to:

1.    approve the audited 2015/16 Statement of Accounts as certified by the Head of Financial Services and authorise the Chair of the Committee to sign the Statement of Accounts; and

2.    approve the Letter of Representation to enable the opinion to be issued.

The Chair signed the Statement of Accounts and Letter of Representation.

The Committee then agreed to:

3.    recommend to Council that the Council opt in to the national procurement contract for the appointment of external auditors commencing with the 2018-19 accounts.

Report of the Head of Financial Services.

Purpose: to present the Council’s Statement of Accounts for the year ending 31 March 2016 to the Audit and Governance Committee (attached as a supplement to this agenda).

Recommendation: that the Committee note the contents of the Statement of Accounts certified by the Head of Financial Services (Section 151 Officer) prior to their submission to the external auditors.

The Committee considered the report of the Head of Financial Services setting out the Council’s Statement of Accounts for the year ending 31 March 2016.

The Head of Financial Services explained the implications that the Accounts and Audit Regulations 2015 would have on the timetable for the preparation of financial statements for 2017/18 and later years.  He highlighted the major changes affecting the Statement of Accounts (as detailed in the report) and commented on the favourable variance on the General Fund and the surplus on the Housing Revenue Account. He thanked the accounts team for their work in preparing the statement of accounts.

The Committee agreed to note the contents of the Statement of Accounts certified by the Head of Financial Services (Section 151 Officer) prior to their submission to the external auditors.

The Committee agreed to consider a report on the audited Council’s Statement of Accounts for the year ending 31 March 2016 at the September meeting.