Issue - meetings

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The Assistant Director, Resources presented the draft Statement of Accounts 2019/2020 and explained that the audit of the final Statement of Accounts were awaiting completion by Ernst and Young and final accounts would be presented to the Audit Committee to sign off later in the year.

In response to questions regarding reserves, the Assistant Director, Resources explained that the CIPFA guidance was that the council should have adequate reserves and that the council’s current policy in relation to the General Fund Reserve was that 5% of the budget was the minimum level requirement of reserve set out in the Financial Plan. The Assistant Director, Resources undertook to check if there was specific requirements within the CIPFA guidance.

Following questions regarding the payment to Eastlaw for the provision of legal services and monitoring to the council, the Assistant Director, Resources explained that the Statement of Accounts provided information on Eastlaw and it had been recommended by the External Auditor to extract the fee paid for the Monitoring Officer.  Councillor Collingham stated that she wished it to be recorded that in her view the council to consider a regular post in legal services. For information, the Portfolio Holder for Finance advised that the current provision of the Monitoring Officer and legal services was under review.

Following a comment on the provision to a summary on a complex document been accessible to all, the Assistant Director, Resources explained that the council was required to produce the document by CIPFA who were looking at streamlining the accounts.  The Assistant Director, Resources commented that she would see what could be done to produce a brief summary of key information.

The Chair thanked the Assistant Director, Resources for presenting the draft Statement of Accounts 2019/2020.

RESOLVED:  That the committee noted the draft Statement of Accounts 2019/2020.