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Extract of the Minutes from the Meeting of the Strategic Resources and Performance Scrutiny and Policy Development Board held on 20th September 2006
REPORT OF THE ASSISTANT CHIEF EXECUTIVE, LEGAL AND GOVERNANCE | MEETING OF THE CITY COUNCIL | |
29TH SEPTEMBER, 2006 | ||
At its meeting on 20th September, 2006, the Strategic Resources and Performance Scrutiny and Policy Development Board (meeting as the Audit Committee) considered a report of the Director of Corporate Resources containing the External Auditor's Annual Governance Report 2005/06. | ||
In accordance with the arrangements approved by the Council at its meeting on 7th June, 2006, establishing the Audit Committee, the report, together with the recommendation of the Scrutiny Board thereon, as set out below, is referred to the City Council for consideration:- | ||
EXTERNAL AUDITOR'S ANNUAL GOVERNANCE REPORT 2005/06 | ||
The Scrutiny Board, meeting as the Audit Committee, considered a report of the Director of Corporate Resources that indicated that the City Council's 2005/06 Statement of Accounts were approved by the Audit Committee on the 26th June and the Council Meeting on 5th July, 2006. At that time the accounts were still subject to external audit by the Audit Commission. That audit had been completed and the External Auditor's findings were contained in her Annual Governance Report 2005/06 at Appendix A to the report. The report contained a number of recommendations for Council officers. An action plan would be prepared and an update submitted to a future meeting of the Committee. | ||
Sue Sunderland (Relationship Manager and District Auditor), together with Dave Phillips, presented the report and highlighted the key issues relating to the financial statements and use of resources. Details were given of the adjusted misstatements in the financial statement, the qualitative aspects of accounting practices and financial reporting, material weaknesses in internal control identified during the audit and other matters of governance interest. In respect of the use of resources, Sue Sunderland indicated that the Council had been assessed as having satisfied 11 of the 12 criteria but weaknesses in internal control meant that the Council had failed to satisfy minimum standards for this criterion. She anticipated being able to issue an unqualified opinion on the financial statements and a qualified value for money conclusion on the use of resources by 29th September 2006. | ||
Sue Sunderland, Dave Phillips and Eugene Walker (Deputy Director of Resources) responded to questions from Members of the Board. | ||
RESOLVED: That this Scrutiny Board, meeting as the Audit Committee, recommends that the meeting of the City Council on 29th September, 2006, adopts the following recommendations:- | ||
RESOLVED: That (a) the External Auditor's Annual Governance Report 2005/06 as now submitted be accepted; | ||
(b) the Leader of the Council be authorised to provide signature to the Letter of Management representations attached at Annexe A (Appendix 6) to the report in order to conclude the audit; | ||
(c) approval be given to the amended Statement of Accounts 2005/06; and | ||
(d) that relevant Officers be requested to report back to a future meeting of the Audit Committee on progress made against the recommendations made in the Annual Governance Report. | ||
Liz Bashforth, Assistant Chief Executive, Legal and Governance. | ||
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