Issue - meetings

To note the key issues raised within the draft Statement of Accounts for 2012/13.

Members were asked to consider the key issues within the draft Statement of Accounts for 2012/13 which are now subject to external audit and would require final approval before the deadline of 30 September.  It was noted that this was the third year of reporting under International Financial Reporting Standards and the Statements were now more closely tailored to the Council’s reporting requirements.  This involved close working with the Council’s External Auditors Grant Thornton.

The report detailed issues raised within each of the financial statements –Income and Expenditure Account, Movement in Reserves Statement and the overall balance sheet.  Members asked for the improved final outturn position to be noted and thanked the Officers concerned for their work in this regard.

It was agreed that further information on earmarked reserves and the schools balances would be forwarded to Members.

RESOLVED

That the key issues within the draft Statement of Accounts for 2012/13 be noted.