Agenda item

Report number: PAS/WS/20/016

The Committee received Report number PAS/WS/20/016, which sought members approval of the 2019-2020 Statement of Accounts for the West Suffolk Council (Appendix A), in accordance with powers delegated to it under the Council’s Constitution.

It was reported that the statutory requirements for the reporting and approval of the Council’s annual financial statements were set out in the Accounts and Audit Regulations 2015.  The regulations require the Council to submit draft accounts to its external auditors by 31 May each year, with approval of the accounts required once the external audit had been concluded by 31 July each year.  Due to Covid-19 the government had issued regulations, the Accounts and Audit (Coronavirus) (Amendment) Regulations 2020 to amend the deadlines in relation to the 2019 to 2020 accounts.  The revised dates were 31 August 2020 for the draft accounts and 30 November 2020 for the final approval and publication.

The results of EY’s review of the accounts were provided in the Annual Results Reports, which were included on the Committee’s agenda (PAS/WS/20/014), along with a verbal update by EY giving their current position as of this evening (19 November 2020).

The attached Statement of Accounts (Appendix A) had been amended, as appropriate, to take on board issues raised by the audit process up to the date of distribution. 

EY had confirmed this evening (19 November 2020) that the audit of West Suffolk Council had been substantially concluded and would be issuing an unqualified opinion on the financial statements and the value for money conclusion that the Council had made the appropriate arrangements to secure economy, efficiency and effectiveness in the Council’s use of resources.  This meant the Committee was in a position to sign the 2019 to 2020 Statement of Accounts off.

The covering report summarised financial highlights in 2019-2020; revenue and expenditure; capital expenditure; usable reserves; pensions fund; annual governance statement and payments to councillors.

The Assistant Director (Resources and Performance) drew the Committee’s attention to a couple of key areas (financial highlights for 2019 to 2020) within the comprehensive income and expenditure account, the balance sheet and cash flow statement. 

Since the agenda was published on 12 November 2020, a number of adjustments had been made in line with EY comments, such as the Mildenhall Hub and the Solar Farm adjustments.  These had been worked through with EY in the new version, which would ultimately be signed off by the Chief Finance Officer, in consultation with the Cabinet Member for Resources and Performance, under delegated authority to make any changes that may be required up to the date of publication. 

The Assistant Director (Resources and Performance) wished to thank EY and the council’s finance team, as it had been a challenging time to carry out audits this year under a pandemic.

The Committee scrutinised the draft accounts in detail and asked questions on the pensions fund; the current deficit position, and the total short-term debtors to which comprehensive responses were provided.

The Chair on behalf of the Committee wished to convey its thanks and commended the Assistant Director (Resources and Performance) on the teams work involved in preparing the accounts.

Councillor Karen Richardson then moved the recommendations, these were duly seconded by Councillor Mary Evans, and with the vote being unanimous, it was:

          RESOLVED: That

1)        The Committee approves the 2019 to 2020 Statement of Accounts for West Suffolk Council (Appendix A), attached to Report number: PAS/WS/20/016, in accordance with the powers delegated to it under the Council’s Constitution.

2)        The Chair of the Performance and Audit Scrutiny Committee signs the certification for the 2019 to 2020 Statement of Accounts on behalf of the Committee.

3)        The Chief Finance Officer, in consultation with the Cabinet Member for Resources and Performance, be given delegated authority to make any changes that may be required up to the date of publication.