Accounts and expenditure

Updated 29.09.21

Statement of accounts

The annual statement of accounts is a statutory summary of the Council’s financial affairs for the financial year and is prepared in accordance with the Code of Practice on Local Authority Accounting in the United Kingdom.

The purpose of our statement of accounts is to give clear information on our overall finances and to demonstrate our stewardship of public money for the year.

Draft accounts must be produced and authorised for issue by the Council’s Director of Finance by 31 May each year. However, regulations have been issued to extend the statutory audit deadlines for 2020/21 for all local authorities. The impact for the Council is as follows:

  • the publication date for final, audited, accounts will move from 31 July to 30 September 2021.
  • the requirement for the public inspection period to include the first 10 working days of June has been removed. Instead the public inspection period must commence on or before the first working day of August 2021.
  • this means that draft accounts must be approved by 31 July 2021 at the latest

The Accounts and Audit (Amendment) Regulations 2021 require that the audited accounts and opinion are published by 30 September 2021. As at 30 September, the Council’s external auditor, Grant Thornton UK LLP, has not yet concluded the audit.

The delay has arisen due to a combination of factors, comprising the following:

  • the impact of Covid-19 on both the complexity of the audit and pace at which it can be completed;
  • the increased assurance work that auditors are required to carry out nationally with respect to pensions and asset valuations.

The Council is continuing to work closely with the audit team as they complete their work. In line with the Accounts and Audit Regulations 2015, the Council has published a set of draft accounts. The Council will publish a final set of accounts as soon as the audit is concluded, and the Audit Report is issued.

This notice of delayed audit is being published in accordance with Regulation 10, paragraph (2a) of the Accounts and Audit Regulations 2015.

As a registered elector you have legal rights to inspect, ask questions about and challenge items in the Council's draft accounts. Please see Right to inspect financial accounts.

Independent auditors review the draft statement of accounts and report annually whether they present a true and fair view of the expenditure and income and year-end financial position of the Council.

The most recent statement of accounts are available below, subject to conclusion of the audit.

Annual Governance Statement

The Annual Governance Statement is a statutory document that explains the processes and procedures in place to enable the Council to carry out its functions effectively. It reports to the Council’s stakeholders on how well it has delivered on governance over the course of the previous year and is published alongside the Statement of Accounts.

The deadline for approval and publication of the Annual Governance Statement is set out in the Accounts and Audit Regulations 2015, in line with the requirements for the Statement of Accounts

Annual audit letter

The auditors also consider whether the Council has made proper arrangements for securing value for money through economy, efficiency and effectiveness in the use of its resources. Key issues arising from the audit of the accounts and the value for money conclusion are reported in the annual audit and inspection letter.