Agenda item

Agreement of Accounting Policies for Application in the 2016-17 Financial Statements

Minutes:

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 2016/17 Statement of Accounts and to seek confirmation that appropriate policies are being applied (for copy see file of Minutes).

 

The Finance Manager, Corporate Finance reported that the big change was the dry run of the early closure of the accounts, before the statutory change comes into effect next year.  He added that two accounting policies were being amended.  The first being increasing the de minimis level for accruing for manual sundry creditor or sundry debtor provisions from £1,000 to £10,000.  The second was an amendment to reflect the revised presentation of financial statements as required by the Code of Practice 2016/17.

 

Resolved:

That the recommendations contained within the report be agreed.

Supporting documents: