Issue - meetings
Statement of Accounts 2014/15
Meeting: 05/11/2015 - Cabinet (Item 63)
63 Statement of Accounts 2014/15 PDF 102 KB
Councillor Phil Davies introduced a report of the Acting Section 151 Officer. It stated that the Council Constitution allocated responsibility for the approval of the Statement of Accounts to the Audit and Risk Management Committee. The draft Statement for 2014/15, published on 30 June 2015, was subject to audit by Grant Thornton, the Council’s External Auditors, and their findings presented to Audit and Risk Management Committee on 28 September 2015 (minute 28 refers). The Statement of Accounts 2014/15 was published on 30 September 2015, the statutory deadline for publication.
The Statement of Accounts included the Merseyside Pension Fund (MPF) accounts as Wirral Council was the Administering Authority for MPF. As the MPF received a separate Audit Findings Report this was considered by the Pensions Committee on 14 September 2015 and Audit and Risk Management Committee on 28 September 2015 as part of approving the Accounts.
Councillor Phil Davies highlighted the financial position that the Council was now in with an in year revenue underspend of £0.5 million and year-end balances of £18.8 million being above the target figure for General Fund balances of £17.4 million for 2015/16. This was in stark contrast to the financial position in 2012 when the current administration had taken over from the previous administration which had overspent by £17m.
Councillor Phil Davies thanked Members and officers for ensuring the Council was on a robust financial platform. The two areas which had shown improvement, Strategic Financial Planning and Financial Control, recognised the significant improvements made to deliver financial stability, to improve financial management and the approach adopted in developing the Council Plan. The Wirral Plan: 2020 Vision had been agreed and would be supported by the Delivery Plan and Medium Term Financial Strategy being developed for Cabinet / Council in February 2016.
Councillor Ann McLachlan, referring to Grant Thornton’s comments that the Council had in place proper arrangements for securing economy, efficiency and effectiveness in the use of resources for the year ended 31 March 2015 was in stark contrast to 2012/13 when there was an adverse conclusion that arrangements were not in place. This was a mark of how far the Council had now improved.
(1) Cabinet notes the Statement of Accounts 2014/15 and the Grant Thornton Audit Findings Report.
(2) progress on delivering the actions identified in the Audit Findings Report will be monitored by Audit and Risk Management Committee.