Issue - meetings

RESOLVED: That the Committee

A.   Considered the Final Statement of Accounts and note the Annual Report of the Pension Fund for the 2020/21 financial year.

B.   Viewed the findings of external audit documented in the ISA260.

C.   Delegated authority to the Executive Director of Finance and Chair of the Audit & Governance Committee to approve and sign the letter of representation on behalf of the Council;

D.   Delegated authority to the Executive Director of Finance and the Chair of Audit & Governance Committee to approve and sign the final Statement of Accounts for the pension fund upon satisfactory conclusion of the audit.

At the Chairman’s invitation, Debbie Hanson from E&Y presented the report, copies of which were previously circulated. The committee was also then given an update on the 19/20 audit, and informed that an unqualified opinion was expected. It was advised that an update of the previous audit report would be circulated to officers and members.

With regards to the 2020/21 Audit E&Y made the following comments.

·         Substantial work had been done so far.

·         The executive summary had listed areas of work that were still in progress.

·         This was a good audit and the committee would be given another update when ready to sign off. 

Members made the following comments.

·         It was noted that a discussion had taken place regarding taking £2 million out of the pension fund in order to balance the budget, had this occurred.

·         It was asked if the committee could look at Climate Impact and ethics more closely in the future.

Debbie Hanson advised that moving money from the pension fund had not happened.

The Executive Director of Finance advised that there was already an ethical policy in place which could be circulated, Councillor Longley agreed and stated that this was very important issue.