Agenda item

The Committee considered a report of the Corporate Director of 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 - Revenues, Pensions and Technical Accounting 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 40 of the report, Mr I Rudd noted three options: clearly a going concern; a going concern with some uncertainty; and not a going concern.  He asked which of the first two was being proposed, the Finance Manager - Revenues, Pensions and Technical Accounting noted that it was the first, clearly a going concern.

Resolved:

(i)        That the Council should be considered as a going concern.

(ii)       That the Statement of Accounts should be prepared on that basis.