Issue - meetings

To consider a report of the Borough Treasurer.

The report presents for consideration the Statement of Accounts 2016/17.

The Committee are invited to consider and comment on the report.

Officer Contact: Jonathan DaviesTel: 218 1025 or email: jonathan.davies@stockport.gov.uk

The Borough Treasurer submitted a report (copies of which had been circulated) requesting the Committee to consider issues which had arisen during the audit period and to approve the final audited statement of accounts.

The following comments were made/issues raised:-

·         Councillors noted that for 2016/17, CIPFA had introduced two substantial changes to the Council’s Accounts with the aim of improving the readers understanding. As result there were new formats for the Comprehensive Income and Expenditure Statement and Movement in Reserves Statement, and the introduction of the Expenditure and Funding Analysis.

·         There had been a number of significant transactions during the year which were included within the Council’s 2016/17 Statement of Accounts. These included accounting for changes in the HRA housing valuations, Stockport Exchange Phase 2 development and the valuation of Merseyway shopping centre.

·         The valuation of the Council’s investment in Manchester Airport.

·         Councillors asked for a presentation to a future meeting on the Local Government Pension Scheme

RESOLVED – That the report be noted and the Statement of Accounts be approved including approval for the signing of the Letter of Representation by the Chair of the Audit Committee and the Borough Treasurer.