Issue - meetings

The Head of Audit and Assurance explained the regulations and statutory framework around the Annual Governance Statement (AGS). He also outlined the various sources of assurance that were relied upon when drafting the Statement. He explained that several key governance issues had been identified going forward as a result of the annual review. These were:

·  Finance

·  Valuation of Fixed Assets

·  Impact of the Covid 19 pandemic on Service

It was noted that the financial position had improved somewhat before lockdown, due to an improved financial settlement that had been received from central government, notwithstanding the Council’s £16.9m budget deficit. It was also the case that a Transformation Plan was in place. However, the Council’s financial position would have been adversely affected by the economic fallout from Covid 19, and the full effect of this would be difficult to evaluate at the moment. The Council had experienced loss of income streams along with increased expenditure. Some monies had been provided by central government, but there were still some areas where the financial burden was falling upon the Council.

It was noted that revised revaluation work relating to fixed assets had been completed and revised accounts had been submitted to the external auditors. It was anticipated that any outstanding work required to be completed by E&Y with regard to fixed assets would now have been completed, and E&Y would be reporting on this to the GP&L Committee on 30^th July.

Mr Balmer confirmed their presentation to GP&L and that the revised valuation work had been accepted. It was hoped to sign off this aspect of the accounts shortly after the GP&L meeting.

A Member asked if it was possible to assess the effect of the pandemic on the Transformation Programme. The Head of Audit and Assurance responded that he was not in a position to answer this question at this early stage, but the situation was being monitored by the Transformation Board.

RESOLVED that the Annual Governance Statement is agreed and adopted.