Issue - meetings

Report of the Head of Finance – Alexandra Palace seeking approval of the Trustees’ Report and Consolidated Financial Statements for the year ended 31^st March 2011.

RECEIVED the report seeking approval of the Trust Financial Statements for the year ending 31^st March 2011, introduced by Helen Downie (Head of Finance, Alexandra Palace) and Sue Barratt (Deloitte Auditors).

NOTED

• The Board’s attention was drawn to the Deloitte audit summary on page 79 of the agenda pack and the key audit areas, and that there had been two recommendations for improvements to control systems. 
• A query was raised about there being “no impact” on the Trust’s accounts (paragraph 6.2 of the report) if the Council consolidated the accounts of the Trust into its group accounts.  The LB Haringey Director of Corporate Resources explained that the position of the Trust and Council accounts would be unchanged but the way it was reported would change and instead of the Trust’s accounts being appended to the Council’s accounts they would be included in the main document.
• It was agreed that the wording on page 30 of the agenda pack in the second sentence under the heading “Governance and Regeneration”, would be amended to state that “the Board agreed to be guided by the principles of the NCVO Code of Good Governance”.
• The Board thanked Ms Barratt for attending and also extended thanks to Helen Downie for all her work as Head of Finance during her time at Alexandra Palace and wished her well in her new role.

RESOLVED

i.                    That the contents of the letter of representations be approved and the Chair be nominated to sign the letter on behalf of the charity.

ii.                  That it be agreed that it was appropriate to prepare the consolidated accounts on a going concern basis.

iii.                That the Trustees Report and Consolidated Financial Statements for 2010/11 be approved and the Chair be nominated to sign them on behalf of the Trust for submission to the Charities Commission.

iv.                 That the content of the report provided by Deloitte on the audit of the consolidated financial statements for the year ended 31^st March 2011 be noted.

v.                   That Deloitte be reappointed as auditors to Alexandra Park and Palace Charitable Trust for the financial year 2011/12.