Consideration was given to the unaudited Statement of Accounts and Governance Statement for the year ended 31st March 2008 (and not 31st March 2007 as denoted in the report).
The Head of Financial Services introduced the report and advised that the preparation of an Annual Governance Statement was a new statutory requirement. The purpose of the Governance Statement was to provide and demonstrate that there was continuous review of the effectiveness of the Council's internal control and risk management systems, in order to give an assurance on their effectiveness and to produce action plans to address any identified weaknesses. Statements of practice were also now included in the document, similar to those provided by international organisations, together with a (non-statutory) Value for Money section which detailed the key improvements and areas currently being addressed. The Chairman raised a number of questions on the report, which the Head of Financial Services provided responses to.
RESOLVED that the Governance Statement 2007/08 be noted; and
RECOMMENDED that the Council approve the unaudited Statement of Accounts for the year ended 31st April 2008 in accordance with the Accounts and Audit Regulations 2003 amended 2006.