Issue - meetings

This report sets out the latest position for external audit of the Statement of Accounts for 2023/24. The latest version of the Statement of Accounts 2023/24 is presented to the Committee for approval alongside the Letter of Representation.

The accounts will be signed and published on the Council’s website ahead of the relevant backstop date of 28 February 2025.

Recommendations

i.                 To approve the Statement of Accounts 2023/24 at Appendix 1.

ii.                To approve the Letter of Representation 2023/24 at Appendix 2.

iii.               To agree that the Section 151 Officer, in consultation with the Chair of the Committee, can make further changes to the Statement of Accounts 2023/24 and the Letter of Representation for 2023/24 that may arise during the completion of the audit.

iv.              Agree that the Committee authorise and instruct the chair to sign the Statement of Accounts for 2023/24 once finalised and signed by the Section 151 Officer to confirm that the Statement of Accounts presents a true and fair view of:

(a)   The financial position of the authority at the end of the financial year to which it relates; and

(b) That authority’s income and expenditure for that financial year.

The Director of Finance introduced the report.

In response to concerns raised regarding the significant increase in audit fees, the Director of Finance explained that the previous fees were set too low, contributing to financial issues within the sector, and also explained that there is an ongoing dispute with the Public Sector Audit Appointments (PSAA) regarding these fees, emphasising the lack of direct negotiating power with auditors. The conversation touched on the uncertainty surrounding the resolution timeline of the dispute.

The Director of Finance also clarified that the Leader of the Council should be named in the financial statements as of the times the accounts are signed, rather than the year of the statements.

Councillor Tony Humphreys moved the recommendation, seconded by Councillor Keith Martin, that the Committee:

1. To approve the Statement of Accounts 2023/24 at Appendix 1.

2. To approve the Letter of Representation 2023/24 at Appendix 2.

3. To agree that the Section 151 Officer, in consultation with the Chair of the Committee, can make further changes to the Statement of Accounts 2023/24 and the Letter of Representation for 2023/24 that may arise during the completion of the audit.

4. Agree that the Committee authorise and instruct the chair to sign the Statement of Accounts for 2023/24 once finalised and signed by the Section 151 Officer to confirm that the Statement of Accounts presents a true and fair view of:

(a)      The financial position of the authority at the end of the financial year to which it relates; and

(b)      That authority’s income and expenditure for that financial year.

On being put to the Committee the motion was declared CARRIED by the Chair, the voting being by general assent.

RESOLVED:

1. To approve the Statement of Accounts 2023/24 at Appendix 1.

2. To approve the Letter of Representation 2023/24 at Appendix 2.

3. To agree that the Section 151 Officer, in consultation with the Chair of the Committee, can make further changes to the Statement of Accounts 2023/24 and the Letter of Representation for 2023/24 that may arise during the completion of the audit.

4. Agree that the Committee authorise and instruct the chair to sign the Statement of Accounts for 2023/24 once finalised and signed by the Section 151 Officer to confirm that the Statement of Accounts presents a true and fair view of:

(c)      The financial position of the authority at the end of the financial year to which it relates; and

(d)      That authority’s income and expenditure for that financial year.