Issue - meetings

2021/22 Statement of Accounts

Meeting: 21/09/2022 - Audit Committee (Item 5)

5 2021/22 Statement of Accounts pdf icon PDF 165 KB

To consider a report of the Deputy Chief Executive (and Section 151 Officer).

 

The report provides details of the 2021/22 Statement of Accounts

 

Audit Committee is requested to:

 

·           Consider the Council’s 2021/22 Statement of Accounts (Appendix One);

·           Note the Management Letter of Representation (Appendix Two);

·           In the event of no material changes as a result of the outstanding audit work, delegate the approval of the 2021/22 Statement Accounts to the Deputy Chief Executive (Section 151 Officer) in consultation with the Chair of the Audit Committee on receipt of advice from the External Auditor; and

·           Note that in the event of material changes as a result of outstanding audit work, the Audit Committee meeting will need to reconvene to approve the revised Statement of Accounts.

 

Officer contact Jonathan Davieson 0161 218 1025 or alternatively email jonathan.davies@stockport.gov.uk

 

Additional documents:

Minutes:

The Deputy Chief Executive (and Section 151 Officer) submitted a report (copies of which had been circulated) which provided details of the 2021/22 Statement of Accounts.

 

The following comments were made/issues raised:

 

·         Members requested a verbal update on the current situation at Manchester Airport.

·         Members asked whether there were any concerns relating to pension funds and whether recent changes in inflation and interest rates were affecting areas such as the property portfolio.  In response, Members were given assurances that the pension fund has robust governance and financial management, and that expert internal and external audit advice could always be called upon.  However, it should be noted that there remained a high degree of economic volatility both internal and external.

 

RESOLVED - (1) That the report be noted.

 

(2) That the Management Letter of Representation (Appendix One) be noted.

 

(3) That in the event of no material changes as a result of the outstanding audit work, the approval of the 2021/22 Statement of Accounts be delegated to the Deputy Chief Executive (Section 151 Officer) in consultation with the Chair of the Audit Committee on receipt of advice from the External Auditor.

 

(4) it be noted that in the event of material changes as a result of outstanding audit work, the Audit Committee meeting will need to reconvene to approve the revised Statement of Accounts.