Issue - meetings

Annual Audit Report

Meeting: 06/04/2022 - Accounts and Audit (Item 804)

804 Annual Audit Report pdf icon PDF 10 MB

Report from Grant Thornton enclosed.

Minutes:

Grant Thornton submitted for information the Annual Report on Ribble Valley Borough Council covering the period up to 31 March 2022.

 

The report summarised the Authority was operating in a continuing uncertain financial environment. Despite this uncertainty, and the challenges posed by COVID-19, the Authority had maintained a good financial position. The Authority had put forward a balanced budget for the next three years.

 

The audit had not identified any significant weaknesses in relation to financial stability, governance, and economy, efficiency, and effectiveness but a number of improvement recommendations had been made, details of which could be found in the report. Actions had been agreed and put in place to address these recommendations.

 

Committee was reminded that an unqualified audit report opinion was given on the financial statements on 29 November 2021.

 

The report also noted that the Council provided draft accounts on the 17 September 2021 with a good set of working papers to support them. The audit identified a small number of disclosure changes to the financial statements which had no impact on the Council’s Comprehensive Income and Expenditure Statement. The Council agreed with these changes to the Financial Statements, and they were correctly processed.