Issue - meetings

Approval of the council's statement of accounts 2018/19

Meeting: 29/07/2019 - Audit, Risk and Governance Committee (Item 10)

10 Approval of the Council's Statement of Accounts 2018/19 pdf icon PDF 107 KB


Additional documents:


Khadija Saeed, Head of Corporate Finance, presented the Council's 2018/19 Statement of Accounts.


The following information was highlighted:


·  The accounts were published on the Council's website in May 2019. The main changes from then were detailed in the report and related predominately to the McCloud judgement and the impact of this on the accounts. In addition, as already discussed, the classification issue in relation to the investment management fees for the pension fund and the addition of the taxation figures of the LCDL group accounts.


·  In response to a question Abigail Leech, Head of Service for the Pension Fund, confirmed that the classification issue was related to new guidance from the Chartered Institute of Public Finance and Accountancy (CIPFA) on providing more transparency on annual report disclosures with regard to investment management fees.


·  Members thanked officers and the audit team for the work in producing the accounts within shorter timescales and were pleased to note the final outturn figure that showed an underspend against the budget for the year.


Resolved: That the 2018/19 Statement of Accounts be approved.