Agenda item

To receive a report completing the processes for finalising and publishing the Council’s Annual Governance Statement (AGS) and Annual Financial Report (AFR) for 2023/24.

Appendix 1 - Completion Report for Those Charged with Governance 2023/24 has been marked “TO FOLLOW”.

At 7:14pm, during discussion on this item, Councillor J A Gray took his seat at the meeting.

Ms C Mellons, Audit Partner and Mr J Camm, Senior Audit Manager, Ernst and Young LLP, were in attendance for consideration of this item.

A report by the Corporate Director (Finance and Resources) was submitted (a copy of which is appended in the Minute Book) which outlined the processes for finalising and publishing the Council’s Annual Governance Statement and Annual Financial Report for 2023/24.

In introducing the report, the Corporate Director (Finance and Resources) paid tribute to the Chief Finance Officer and her team for their hard work in finalising the accounts.

Ms C Mellons, the Council’s Audit Partner was then provided with an opportunity to present the Audit Results Report for the year ended 31 March 2024. Reference was made to the outstanding areas of audit work yet to be completed, where it was noted that the receipt of assurances from the auditor of the Cambridgeshire County Council Penson Fund was expected by the end of the week. Members were encouraged to note that no further material issues had been identified at the present time and that the audit opinion would be ready by the end of next week.  Attention was then drawn to the audit differences and the value for money findings. In terms of the latter, it was reported that whilst significant weaknesses in governance arrangements for 2023/24 had been identified, the proactive management of addressing this concern had been recognised and reported on to Committee Members during 2024.

In response to a question raised by Councillor I P Taylor, the Audit Manager confirmed that the £1.15m overstatement of income and debtors due to the incorrect coding of cash received from the Department for Work and Pensions did not have any negative impact upon the Council.

Councillor A R Jennings then queried the differences in the figures reported in the Quarter 4 Provisional Outturn Report which had previously been submitted to the Overview and Scrutiny Panel (Performance and Growth) which indicated a £1.7m underspend in comparison to the £4.5m which was now being reported. Having explained to the Committee that there was a difference between how the provisional outturn figures were presented when compared to the Statement of Accounts, the Chief Finance Officer undertook to investigate the matter and circulate a response to Members outside of the meeting.

Whereupon, the Committee

RESOLVED

(a)  to receive and discuss the Completion Report for Those Charged with Governance 2023/24 (Appendix 1);

(b)  to approve the Annual Governance Statement (Appendix 2) and authorise the Executive Leader and Chief Executive Officer to sign the Statement on behalf of the Council;

(c)  to approve the Letter of Representation (Appendix 3) and authorise the Corporate Director (Finance and Resources) as Section 151 Officer to sign it on behalf of the Council;

(d)  to give delegated powers to the Chair of the Committee and the Corporate Director (Finance and Resources), as Section 151 Officer to authorise and sign the Annual Financial Report for 2023/24 (Appendix 4) on behalf of the Council;

(e)  to give delegated powers to the Corporate Director of Finance and Resources, in conjunction with the Chair of the Committee, to ensure that any minor amendments to the statement of accounts are completed before final publication.