Issue - meetings

To receive a report from the Head of Finance reporting on the ramifications of the earlier preparation and audit of the annual statutory financial statements.

The Committee had before it, and NOTED, a report * from the Head of Finance outlining the ramifications of the earlier preparation and audit of the annual statutory financial statements.

It was explained that the Government wanted to receive the financial outturn from councils before Parliament’s summer recess. It had therefore been announced that the accounts from local authorities for the year ended 31 March 2018 and for subsequent years will need to be approved by 31 May. The current deadline was 30 June therefore this was one month earlier. Even though the accounts would be prepared as accurately as possible this would mean that many more estimates would need to be made and actual figures would differ in some areas.

A brief discussion took place regarding accounts staff taking leave during this period. The Finance Manager had been working closely with Human Resources to ensure that finance staff were not unduly penalised as result of having to avoid taking flexi time and annual leave during this period.

Note: * Report previously circulated; copy attached to the signed minutes.