Issue - meetings

The committee received a report introduced by the Deputy Head of Finance:

In response to Members’ questions the Deputy Head of Finance said the following:

i.       Buildings where there was significant work required to bring them up to what would be required by legislation, would have an impact regarding the valuation of those assets as those costs have not been built into the valuation.

A statement was read out by the Committee Manager from the Council’s Independent Person Rob Bennett:

This is a very clear report. The area that I would keep under closest review is that the value of investment properties given the uncertain economic climate that we are in.

Resolved (by 5 votes to 0 – unanimous of those able to vote) to:

i.               To note that there are no significant changes to accounting policies anticipated for the 2022-23 Statement of Accounts.

ii.              To note and approve the proposed critical judgements and major sources of estimation uncertainty in respect of the 2022-23 Statement of Accounts.

iii.             To note the progress made in streamlining the 2021-22 accounts and to request further feedback from Civic Affairs Committee members on the current format of the Statement of Accounts, and suggestions for improvement.