Agenda item

The Committee considered a report of the Corporate Director, Resources regarding whether the Council should be considered as a ‘going concern’ organisation and whether the Council’s Annual Accounts should be prepared on that basis (for copy see file of Minutes).

The Finance Manager - Strategic Finance referred to the net assets of the Council for the last five years and assured members that the external auditor had provided a value for money conclusion at the year end about the use of resources.

With reference to paragraph 16 of the report, Councillor Carr pointed out that he had never see the value of plant increase.  The Finance Manager explained that for accounting purposes plant was grouped together with property and equipment and detail of the breakdown would be provided for information.

Councillor Kellett requested further details on depreciation.

Resolved:

That the Council should be considered as a going concern and that the Statement of Accounts should be prepared on that basis.