Issue - meetings

Statement of Accounts 2018/19 and Supplementary Financial Information to Statement of Accounts 2018/19

Meeting: 11/09/2019 - Flintshire County Council (Item 38)

38 Statement of Accounts 2018/19 and Supplementary Financial Information to Statement of Accounts 2018/19 pdf icon PDF 162 KB

To receive a Part 2 report for testing.

Additional documents:

Decision:

(a)       That the final version of the Statement of Accounts 2018/19 be approved;

 

(b)       That the Letter of Representation – Flintshire County Council; be approved; and

 

(c)        That the Supplementary Financial Information to the Statement of Accounts 2018/19 be noted.

 

Minutes:

The Corporate Finance Manager introduced Richard Harries and Mike Whiteley of the Wales Audit Office, and Liz Thomas, Strategic Finance Manager, Corporate Finance. 

 

The Corporate Finance Manager advised that the final version of the Statement of Accounts 2018/19 was presented for approval following consideration by the Audit Committee prior to the meeting of County Council today.  He explained that the Statement of Accounts 2018/19, incorporating those changes agreed with Wales Audit Office (WAO) during the course of the audit for Member approval was attached as appendix 1 to the report.  The WAO presentation in connection with the audit of the Statement of Accounts 2018/19 was attached as appendix 2.  During the audit, changes agreed with the WAO were made to the draft Statement of Accounts 2018/19 and those which are reportable under ISA 260 are shown in appendix 3.  The Flintshire County Council Letter of Representation to the WAO was attached as appendix 4.  Supplementary information to the Statement of Accounts 2018/19 on full time equivalent pay, in excess of £60,000, as requested by a notice of motion approved by Council on 29 January 2013, was attached as appendix 5.

 

The Corporate Finance Manger advised that there were no amendments to report to Council following consideration of the Statement of Accounts and the WAO findings by the Audit Committee at the meeting held prior to Council today.  A note on previous questions raised by Members and the response provided had been circulated to Members and there had been opportunity throughout the summer for Members to raise any further issues or questions.  No additional questions were received.

 

The Corporate Finance Manager reported that the overall findings of the WAO were positive and built on the improvements achieved in previous years.  The WAO concluded that the financial statements were produced to a good standard and were supported by comprehensive working papers.  There were no uncorrected misstatements.  The only issue arising from the audit was regarding the process for valuation of assets and the actions planned to address this, in conjunction with the WAO, were accepted by the Audit Committee at the meeting held earlier today.

 

The Corporate Finance Manager advised that there would be an earlier statutory deadline for the accounts from 2020-21 for the submission of the draft annual financial statements.  In conjunction with the WAO the Council would undertake a ‘dry-run’ in 2019-20 for producing its draft financial statements by 31 May 2020 and   conclusion by WAO on 31 July 2020.

 

The Corporate Finance Manager reported that there was one material amendment regarding pensions arising from the Audit and was a consequence of a national issue known as the national ‘McCloud’ legal acse judgement which could impact on all public service pension schemes.  He explained that there was a potential future impact at the current time on teacher’s pay contributions and the Council had to account for the best estimate due to the value, however, there was no immediate impact on the Council’s budget and any actuarial impact would be  ...  view the full minutes text for item 38