Issue - meetings

The report of the Director – Finance and Corporate Services is attached.

The Service Manager – Finance presented the Annual Governance Statement 2020/21 and referred to the key headlines contained in the Statement, details of which were outlined in the appendix to the report.

The Group was advised that that in accordance with the Accounts and Audit Regulations 2015, the Council was required to publish the Annual Governance Statement alongside the Council’s Statement of Accounts, and by reviewing the Statement, the Group would be scrutinising the Council’s governance arrangements.

The Chairman referred to the significant governance issues related to Covid and the challenges faced by the Council and also referred to the decommissioning of the Ratcliffe on Soar power station site and sought reassurance regarding risk management and litigation.  The Chairman referred to the considerable Business Rates paid by the power station and asked for an update on how the loss of that revenue could impact on the Council’s reserves.

The Service Manager – Finance confirmed that the forecasts remained the same and the Council was working with its partners to identify how the Development Corporation and Freeport would impact on the Business Rates to ensure that the Council’s finances were not detrimentally effected. 

The Chairman was pleased to note that the budget deficit, which had originally been forecast as £2.63m, was now forecast at £1.5m.

The Chairman referred to the self-assessment undertaken by the Council’s S151 Officer and sought clarification as to whether or not it would be subject to additional scrutiny. 

The Director – Finance and Corporate Services advised that the Council’s Internal Auditors, BDO would be reviewing the marking of the self-assessment to ensure surety.

It was RESOLVED that the Annual Governance Statement 2020/21, which incorporates actions for the forthcoming year be approved.