Issue - meetings

that the note the year end financial performance and the unaudited statement of accounts be noted.

Councillor Pavey (Deputy Leader of the Council) introduced the report from the Chief Finance Officer which set out the year end financial position for 2013/14 and the unaudited statement of accounts. The draft statement of accounts had previously been considered by the Audit Committee on 26 June and a report on the work of KPMG the council’s auditors would be submitted to the Audit Committee in September.

Conrad Hall (Chief Finance Officer) summarised the position on outturn, the accounts, future assets and liabilities, the pension fund and Council Tax collection. On reserves, he clarified that £12M was unallocated with the remainder committed but not spent. He agreed to provide members with a detailed note on reserves and balances.

Councillor Mashari suggested that funds be ring fenced to meet the costs of future welfare reforms and pointed to other costs that may have serious financial implications in the future including adult social care, landfill charges and parking. Councillor Collier raised questions on the balance sheet and the increase by £306m over the year to £435m as at 31 March 2014. Conrad Hall summarised the key contributions to this and agreed to provide a detailed written response. Questions were also raised on the level of debt write offs to which Conrad Hall responded that recovery action had been taken early and it was considered that the debt was not recoverable. Council Tax collection was currently just on target and the pension fund performance improving which would have a positive impact on the employer contributions.

RESOLVED:

that the year end financial performance and the unaudited statement of accounts be noted.