Issue - meetings

To receive the 2024/25 Audited Statement of Accounts.

The Head of Service: Corporate & Capital Finance presented an update on the audit of the Councils accounts for 2024/25 and sought approval of the Statement of Accounts together with delegated authority to make final amendments following consultation with the Chair.

Members heard that in accordance with the Accounts and Audit (England) Regulations 2025 and associated Amendment regulations, the accounts had been certified by the Chief Financial Officer in May 2025. The draft statement was presented to the Audit Committee on 28 May 2025 and published for public inspection, in line with statutory requirements.

Following historic challenges in local government audits, last year, the Government introduced statutory backstop dates as part of new regulations. It was noted that the audit opinion for 2023/24 had been issued before the backstop date, and although the audit for 2024/25 remained ongoing, the Council, again, anticipated an unqualified audit opinion.

Officers outlined several key amendments made during the audit process conducted by the Council’s external auditors KPMG, including reclassification of assets, application of IFRS 16 to service concession arrangements, corrections to expenditure categorisation, and an updated valuation of the Local Government Pension Scheme liability. None of the changes affected the General Fund outturn position previously reported to Cabinet on 19 June 2025.

Members thanked officers and the external auditors for their work in completing the audit in a challenging national context and welcomed the anticipated unqualified audit opinion.

Upon being put to the vote it was:

RESOLVED – that:

a)    the 2024/25 Statement of Accounts attached at Appendix A be approved;

b)   delegated authority be granted to the Chair to sign the Letter of Representation; and

c)    delegated authority be granted to the Director: Finance, People & IDT, following consultation with the Chair, to make any final changes required to the Statement of Accounts prior to publication.