Decision details

Approval of the Council's Statement of Accounts 2016/17

Decision status: Recommendations approved

Is Key decision?: No

Decisions:

Khadija Saeed presented the Council's Statement of Accounts 2016/17 to members as the committee has delegated authority to approve the accounts prior to publication on 30th September 2017. The Statement of Accounts had been prepared in accordance with the Accounting Code of Practice issued by the Chartered Institute of Public Finance and Accountancy (CIPFA). The style and format of the accounts complied with CIFPA standards however, the content had been reviewed and refreshed to make the accounts easier to understand. The report summarised the key components of the accounts and set out a revised timetable for the following year.

 

As a consequence of External Auditor recommendations, written amendments to note 30 on cash flows from operating activities and section 14 on the pension fund accounts were presented to the committee.

 

It was further explained that the councils out turn report will be presented to cabinet on 10th August 2017 and that any subsequent amendments will need to be incorporated into the statement of accounts 2016/17.

 

Resolved: - That;

 

(i)  Any subsequent amendments as a result of the councils out turn report should be completed by the Director of Financial Resources following consultation with the Chair and Deputy Chair.

(ii)  The Lancashire County Council Statement of Accounts for 2016/17 be approved and signed by the Chair of the Committee.

 

Report author: Jeanette Moister

Date of decision: 31/07/2017

Decided at meeting: 31/07/2017 - Audit, Risk and Governance Committee

Accompanying Documents: