Agenda item

The Committee considered an update from the Corporate Director of Resources on the County Council’s accounting policies to be applied in the preparation of the 2013/14 Statement of Accounts and to seek confirmation that appropriate policies are being applied (for copy see file of Minutes).

The Assistant Finance Manager, Corporate Finance highlighted the changes to be applied in preparing the 2012/13 Statement of Accounts.  He further explained the new accounting policies in relation to Business Improvement District Scheme and Voluntary Aided/Voluntary Controlled/ Foundation Schools.  The External Auditor advised that they would be working closely with officers to consistently apply the policies.  She added that CIPFA were likely to agree with the accounting policies and are in the process of producing guidance for local authorities.

Following a question from Councillor Lawson the Assistant Finance Manager, Corporate Finance explained that a judgement would be made on each school with advice from legal and assets taken on board.

Resolved:-

That the recommendations contained within the report be agreed.