Decision details

Review and approval of required changes in accounting policy and presentation in respect of the 2011-12 Statement of Accounts. 

The committee received the Statement of Accounts 2011/12 from the Head of Accounting Services.  

The committee made the following comments on the Statement of Accounts.

i.        A request was made for a copy of the Statement of Accounts summary document to be circulated with the draft accounts. The Head of Accounting Services explained that the summary document was produced later in the process and would be made available to all councillors.

ii.          Clarification was requested on the inclusion of heritage assets. The committee were advised that the CIPFA Code of Practice required the inclusion of heritage assets.

iii.      In response to a question from the committee, the Head of Accounting Services outlined the key changes to accounting policies, which had been used in the development of the Statement of Accounts.

iv.      A briefing was suggested for members to further understand the Statement of Accounts.

v.          Clarification was requested regarding the process by which Ernst and Young had been appointed the Council’s external auditors. The Director of Resources explained that the district audit function of the Audit Commission was due to cease imminently, and that as an interim step prior to Councils having the ability to appoint their own auditors, regional lots had been let for district auditor elements of the Audit Commission’s work.

Resolved (Unanimously) to

i.        Note the draft statement of accounts and approve the accounting policies on which they are prepared.