Issue - meetings

Report of the Director – Finance and Corporate Services.

The Service Manager - Finance delivered a summary to support the approval of the Statement of Accounts 2020/21, including the Annual Governance Statement, advising the Group that there had been some delay in submitting the Statement of Accounts for approval due to the outcome of the Pension Fund audit considered by the Council’s external auditors.

The Service Manager - Finance explained that the closure of accounts process was complex for a second year due to the impact on resources as a result of Covid 19. The audit for this year was undertaken remotely and whilst this provided challenges on the Council’s finances, the audit process had gone smoothly. It was noted that the deadline for the certification of the accounts has been extended again for the next two years due to the pandemic.

Members noted that there had been some additional testing requirements as a result of a change to the Code of Audit Practice, which is reflected in the proposed fee variation of approximately £19k.

Members were asked to consider a summary of salient points taken from the Statement of Accounts 2020/21.

Members questioned the clarity of the comparators in the previous year’s statement of accounts and these were noted by officers.

Members asked specific questions relating to Section106 funding, highlighting the positive outcomes at Bingham and Cotgrave. The Senior Property Surveyor added that the recent 10 lease by Heron Foods at Cotgrave is above what was expected and emphasised that the Council’s commercial portfolio was doing well.

It was RESOLVED that the Statement of Accounts for 2020/21, including the Annual Governance Statement be approved by the Governance Scrutiny Group.