Members reviewed the Statement of Accounts 2016/17 which would be referred to full Council for approval on the 25 September 2017 together with the Annual Governance Statement. The Committee also noted the requirement for the Chairman of Council to sign the accounts and letter of representation.
In response to a questions, Members were advised as follows:-
(a) that the detail required in the statement of accounts was prescribed, details of the pension liability was included with other long term liabilities;
(b) the draft balance sheet has moved from a positive position to a deficit, it was noted the pension liability created this position, which covers all future liabilities at the balance sheet date;
(c) Property valuations were valued at current value based on existing use;
(d) ‘Property, plant and equipment’ – confirmation that the increased related to the property element only which had increased in value.
Resolved
That the Audit Scrutiny Committee recommend the statement of accounts 2016/17 for approval to Council.