Issue - meetings

(Copy herewith)

The Strategic Finance Business Partner submitted a report and which sought Audit Committees approval of the Council’s Accounting Policies. It was noted that the Policies had been discussed with the External Auditors who did not observe any material changes. It was explained that although there had been no technical changes in the Council’s accounting policies, there had been minor changes to the wording in order to enhance understanding.

The Strategic Finance Business Partner also highlighted that Accounting Policies specifically in relation to asset valuation had been discussed with the External Auditors and External Valuers in light of the current work on the 2016/17 Statement of Accounts. 

In response to questions asked, the Strategic Finance Business Partner explained with regards to the Business improvement Districts (BID), business rates and an additional BID Levy were collected and this additional levy collected from both the BIDs is paid back to the BIDs on a monthly basis.

RESOLVED:

That the Audit Committee approved the Accounting Policies that would be applied in completing thee 2017/18 Statement of Accounts.