Issue - meetings

To receive and consider the report of the Chief Finance Officer. 

James Thomson, Deputy Director of Finance, presented the report of the Chief Finance Officer which updates the committee on the closure of accounts for Chorley Council. 

Due to CV-19 the government published revised deadlines for the closure of accounts in April 2020, the key dates remain:

·                The public inspection period must start on or before the first working day in September, this meaning that the draft statement of accounts must be produced by 31 August.

·                The audit of the accounts will, subject to confirmation with Grant Thornton, take place between 1 September and late November 2020.

·                The audited financial statements are to be published by 30 November 2020.

The revised working arrangements in place since the second half of March have inevitably affected a range of tasks in a variety of ways, to date good progress has been made.

However, the council’s valuers have been furloughed and have now begun working on the valuation to the council’s assets.  It is hoped this will not delay the publication of the draft statement of accounts.

The Chair and Vice-Chair will be kept informed of the progress. 

Decision:

1.         To note the progress on the closure of accounts for 2019/20 including the revised deadlines for submission of the draft accounts and sign off of the final accounts.

2.         To note the issues officers are experiencing regarding the valuation of council assets.