Agenda and minutes

Apologies for absence were received from Councillors Dr. D. W. P. Booth JP and M. J. A. Webb.

No declarations of interest were received.

The Cabinet considered the Audit Commission Annual Governance Report 2010/2011 and the Leader welcomed Ms. E. Cave and Mr. D. Evans from the Audit Commission to the meeting.

Ms. Cave explained that this had been a difficult year for Local Authorities as it was the first year that accounts had to be prepared in compliance with The International Financial Reporting Standards which had resulted in significant additional work for Finance officers.  The Audit Commission recognised that the Council had prepared well in advance of the introduction of the new arrangements and that there were no issues to report. Accounting arrangements for the Shared Services agenda and the Worcestershire Shared Services Joint Committee had also been examined and there were no issues to report.

There were two issues which while not material were assessed to be significant and were therefore drawn to Members’ attention. These were in relation to the treatment of the ALDI capital receipt and Capital Charges. The Executive Director of Finance and Resources referred to her report responding to these issues and it was noted that a more robust system of charging and officer time allocation had been implemented for 2011/12.  

In relation to the Value for Money assessment it was noted that the Audit Commission were satisfied that the Council had put in place arrangements to secure economy, efficiency and effectiveness during 2010/11.

The Leader thanked Ms. Cave and Mr. Evans for their attendance.

RECOMMENDED:

(a)       that the Audit Commission Annual Governance Report 2010/11 be noted and that the Statement of Accounts 2010/11 be not amended to reflect the issues raised by the Audit Commission for the reasons set out in detail within the report; and

(b)       that the draft letter of representation be approved.  

Consideration was given to the report on the Statement of Accounts for 2010/11.

Following discussion it was

RECOMMENDED   that the Statement of Accounts 2010/11 be approved.