Issue - meetings

Report of the Assistant Director of Finance (S151 Officer)

Purpose of report

To review and approve the Accounting Policies for inclusion in the 2022/23 Statement of Accounts. The Council is required to set accounting policies which set out the specific principles, bases, conventions, rules, and practices applied by an authority in preparing and presenting financial statements. The accounting policies describe how the Council has interpreted and applied the Code of Practice on Local Authority Accounting. There have been no material changes to the Accounting Policies.

In addition, to note that the 2022/23 Draft Statement of Accounts were not published by the 31 May 2023 deadline, due to delays in the audit of the 2021/22 Statement of Accounts.

Recommendations

The meeting is recommended:

1.1           To approve the accounting policies as approved by the Chief Finance Officer (Appendix 1).

1.2           Note that the 2022/23 Draft Statement of Accounts were not published by the 31 May 2023 deadline.

Resolved

(1)          That having given due consideration, the accounting policies as approved by the Chief Finance Officer be approved

(2)          That it be noted the 2022/23 Draft  Statement of Accounts were not published by the 31 May deadline be noted.

The Assistant Director of Finance and S151 Officer submitted a report for the Committee to review and approve the Accounting Policies for inclusion in the 2022/23 Statement of Accounts. The Council was required to set accounting policies which set out the specific principles, bases, conventions, rules, and practices applied by an authority in preparing and presenting financial statements. The accounting policies describe how the Council has interpreted and applied the Code of Practice on Local Authority Accounting. There have been no material changes to the Accounting Policies.

In addition, the Committee was advised and requested to note that the 2022/23 Draft Statement of Accounts were not published by the 31 May 2023 deadline, due to delays in the audit of the 2021/22 Statement of Accounts.

Resolved

(1)           That having given due consideration, the accounting policies as approved by the Chief Finance Officer be approved

(2)           That it be noted the 2022/23 Draft  Statement of Accounts were not published by the 31 May deadline be noted.