Issue - meetings
Annual Financial Report 2014/15
Meeting: 23/09/2015 - Audit Committee (Item 4)
4 Annual Financial Report 2013/14 PDF 102 KB
Additional documents:
Minutes:
The Chief Accountant introduced the report. He informed the Committee that as the ISA260 for the period 2013/14 report had been issued the annual financial report could therefore be presented for approval. He advised that a minor amendment had been made to the Annual Governance Statement and the document would be circulated to Members for comment back to the Chief Accountant. Once comments had been received a Chair’s action would be requested to approve the revised inspected document (following Members’ comments) by e-mail.
In considering the report the Committee noted that some of the achievements listed in the introductory paragraph lacked insufficient detail and should include statistical data to give depth to the statements.
The Committee also queried whether the level of the Council's PWLB borrowing was in the median range relative to other councils. Members were informed that the Council's loans had been placed with banking institutions and the Council was exploring options to repay these. The borrowing level was low.
RESOLVED
That, subject to approval of the revised annual governance statement by the Committee via a Chair’s action, the annual financial report for the year ending 31 March 2014, including the statement of accounts for this financial year be approved, having regard for the auditors annual governance report for this period.