Agenda item

Submitted:

·         Statement of Accounts post-Audit;

·         Audit Wales’ ‘ISA260’ report;

·         Letter of Representation (Appendix 1)

To consider and approve the information before authorising the Chairman to certify the letter

DECISION:

• To accept and approve the 'ISA260’ Report by Audit Wales in respect of Cyngor Gwynedd
• To accept and approve the Statement of Accounts for 2022/23 (post-audit) - the Chair of the Committee to certify the Statement of Responsibilities regarding the Statement of Accounts 
• The Chair of the Committee and the Head of Finance Department to certify the Letter of Representation electronically
• To congratulate the officers for their work of securing an unqualified statement

Yvonne Thomas (Audit Wales) was welcomed to the meeting.

Submitted – the report of the Head of Finance Department, requesting that the Committee consider and approve the Statement of Accounts 2022/23 (post-audit), Audit Wales's 'ISA260' report and the Letter of Representation (Appendix 1 to the Audit Wales report), before authorising the Chair to certify the letter electronically.

The Cabinet Member for Finance noted that the Officers had released the accounts to Audit Wales since the end of June 2023 so that Audit Wales could prepare a report for approval by the Committee. He highlighted the frustration that the accounts had not been returned until mid-December.

The Assistant Head of Finance - Accountancy and Pensions led Members through the statement, reminding them that provisional accounts had been presented to the Committee in September 2023, where the main matters and relevant notes had been highlighted. It was reported that minor amendments had been made to that report and attention was given to the following:

·         That several of the amendments were technical in terms of treatment / how something was categorised / how things were shown and that they were moved from one heading to the other, but that they did not impact the accounts' bottom line.

·         When referring to one church school, that the figure was below the 'material' figures, and that amending it would mean numerous amendments to notes and statements. Resolved to agree to implement this in the 2023/24 accounts.

Attention was given to the Council's balances and funds, and specifically to the Movement in Reserves Statement that summarised the Council's financial position. It was noted that various funds were bound (Reserves for the Capital Programme, Council Tax Premium Fund, Renewal Reserves (vehicles, equipment, information technology equipment for schools), Transformation Fund / the Council Plan and the Financial Strategy Reserve).

Audit Wales reiterated that Cyngor Gwynedd's Accountancy Service had incorporated the amendments to the final statement and it was a pleasure to note an unconditional opinion once again this year. ⁠It was noted that the accounts gave a correct and fair picture of the situation, complied with appropriate practices and that Audit Wales worked to a level of 'relevance'. It was reported that the level of relevance was appointed to try and acknowledge and correct misstatements that could otherwise mislead those who used the accounts. A relevance level of £5.387 million was determined for the audit this year.

Reference was made once again to the Property, Tools and Equipment's misstatement that included one church school's building that was not the Council's property and that the figure was below the 'material' figures. It was reiterated that Audit Wales had accepted the decision to implement this in the 2023/24 accounts. The Finance team were thanked for their support to complete the audit.

It was proposed and seconded to accept the report.

RESOLVED:

·         To accept and approve the 'ISA260’ Report by Audit Wales in respect of Cyngor Gwynedd.

·         To accept and approve the Statement of Accounts for 2022/23 (post-audit) - the Chair of the Committee to certify the Statement of Responsibilities regarding the Statement of Accounts. 

·         The Chair of the Committee and the Head of Finance Department to certify the Letter of Representation electronically.

·         To congratulate the officers for their work of securing an unqualified statement.