Issue - meetings

Report of the Director for Finance and Corporate Services

The Director – Finance and Corporate Services as the Council’s Section 151 Officer presented the Council’s Going Concern status and the assumption that the authority, its functions and services will continue in operational existence for the foreseeable future.

The Group were advised that the Council is required to compile its Statement of Accounts in accordance with the Code of Practise on Local authority Accounting for 2021/22. In accordance with the Code the statement of Accounts is prepared assuming that the Council will continue to operate and that it is able to do so within the current and anticipated resources available.

The main factors that underpin the going concern assessment are:

·       The Council’s current financial position

·       The Council’s projected financial position

·       The Council’s governance arrangements

·       The regulatory and control environment applicable to the Council as a local authority

It was noted that the Council’s draft financial statements 2021/22 can be viewed on the Council’s website.

The Director of Finance and Corporate Services advised that the financial outlook looks challenging as we await the autumn statement from Government. However, the Group noted that with regard to the Council’s Governance arrangements and current financial position the Council remains a going concern.

The Chairman commented on the Council’s Medium Term Financial Strategy (MTFS) and the knock-on effect of the next wave of austerity on the Council’s financial position, but that the immediate outcomes remain positive in the current circumstances.

It was RESOLVED that the Group note the positive outcome of the assessment made of Rushcliffe Borough Council’s status as a going concern for the purpose of the Statement of Accounts 2021/22.