Issue - meetings

Background:

This report provided details of the Council’s draft Statement of Accounts for 2012/2013, which was attached to the report. The Council was required under the Accounts and Audit Regulations 2003 (as amended) to produce an annual statement of accounts that was subject to scrutiny by the external auditors.  The auditor would subsequently give an opinion on the accounts, and additionally interested parties would have the right to inspect the accounts and make representations to the auditor.

It was reported that the final accounts showed a revenue surplus of £2.828 million. It was noted that the final position was a significant achievement and a reflection both of the successful efforts to maintain services at minimum cost and the robustness of the budgets that were originally set.

The final Housing Revenue Account (HRA) for 2012/2013 showed a surplus of £1.311 million against a budgeted surplus of £1.059 million. However, a revenue contribution to capital expenditure of  £1.8 million meant that the balance on the account fell to £4.346 million.

The final capital expenditure for 2012/2013 was £72.4 million with £6 million slipping to future years.

It was noted that the Audit Committee would consider draft Statement of Accounts on 11 July 2013.

Some amendments to the Statement of Accounts were tabled at the meeting (Comprehensive Income and Expenditure Statement; Directorate Income and Expenditure 2012/2013; and, Movement on the Housing Revenue Account Statement).

Reasons:

Good practice recommends that Members approve the Statement of Accounts as soon after 30 June as practicable.