Agenda and minutes

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Items
No. Item

118.

Apologies and substitutions

Minutes:

Apologies for absence were submitted on behalf of Councillors Hodgkins, Roberts and Wright with the substitution of Councillor Bill for Councillor Hodgkins authorised in accordance with council procedure rule 10.

119.

Minutes of previous meeting pdf icon PDF 33 KB

To confirm the minutes of the previous meeting.

Minutes:

It was moved by Councillor Camamile, seconded by Councillor Lynch and

 

RESOLVED – the minutes of the meeting held on 22 June be confirmed and signed by the chairman.

120.

Declarations of interest

To receive verbally from members any disclosures which they are required to make in accordance with the Council’s code of conduct or in pursuance of Section 106 of the Local Government Finance Act 1992. This is in addition to the need for such disclosure to be also given when the relevant matter is reached on the agenda.

Minutes:

No interests were declared at this stage.

121.

Audit Results Report pdf icon PDF 4 MB

Report of external auditor. Updated report attached.

Minutes:

In presenting his report, the external auditor stated there were no significant control issues or risks. It was moved by Councillor Camamile, seconded by Councillor Lynch and

 

RESOLVED – the report be approved.

122.

Statement of accounts pdf icon PDF 93 KB

To present to the Audit Committee the Audited Financial Statements for 2016/17 and Annual Governance Statement.

Additional documents:

Minutes:

The committee received the audited financial statements for 2016/17 along with the Annual governance statement. It was reported that the largest amendment had been in respect of the HRA property valuation as a result of a discrepancy. This hadn’t changed the overall outcome.

 

An amendment to the report was highlighted and it was noted that paragraph 3 on page 110 should read:

 

“As part of the annual revaluation exercise, the valuer provides estimated residual lives for all dwellings, which is used to calculate the depreciation charge for the financial year. This method reflects the average range of expected life per dwelling of between 40 to 60 years. For 2016/17 the estimated residual life used was 46 years…”

 

Concern was expressed that the housing values tended to be low, and in response it was explained that they were calculated differently to private housing as they had to include a ‘social discount value’. Members were assured, however, that for insurance purposes they were insured on their full value.

 

It was moved by Councillor Williams, seconded by Councillor Camamile and

 

RESOLVED

 

(i)            The 2016/17 financial statements and annual governance statement be approved for publication;

 

(ii)           The content of management’s letter of representation to the external auditors be noted.