Any other business of an urgent nature
To consider any items admitted at item 2 above.
Minutes:
The Committee received the annual audit letter for the year ended 31st March 2019 from the external auditors. The audit letter summarised that the financial statements in the final Statement of Accounts 2018/19 gave a true and fair view of the financial position and its income and expenditure for the year and had been properly prepared in accordance with the CIPFA/LASAAC Code of Practice on Local Authority Accounting 2018/19.
The Committee noted that 5 valid objections had been received in response to the accounts. BDO concluded that the LOBO loans were not an unlawful type of borrowing and the Council had not acted unlawfully in taking these loans. The other four objections related to; schools PFI, the HDV, property maintenance and late payment of Council Tax penalties. All four of these objections were ongoing and the Statement of Reasons was to be completed.
The Committee had no formal recommendations to raise in relation to the annual audit letter.
RESOLVED
The Committee received and noted the annual audit letter.