Agenda and minutes

*AC 13 

There were no apologies for absence forwarded to the meeting.

Meeting held on 28 July 2015

*AC 14

The Minutes of the Meeting held on 28 July 2015 were confirmed and signed by the Chairman as a correct record.

Report of the Finance COP Lead (S151 Officer)

*AC 15

The Section 151 Officer presented a report that asked Members to note that no changes were required to the Annual Governance Statement (AGS) 2014/15 from the version that had been considered and approved at the July 2015 Audit Committee meeting (Minute AC 10 refers).

Arising from discussions thereon:

1.       Two minor amendments were brought to Members attention in respect of comments relating to land charges and adherence to the Code of Practice on Local Authority Accounting in respect of the Role of the Chief Financial Officer.

It was RESOLVED that Members note that no changes were required                                                                                       to the Annual Governance Statement (AGS) 2014/15 from the version that had been initially considered and approved at the July 2015 Audit Committee (Minute AC 10 refers).

Report of the Finance Business Partner

*AC 16                                  

The Section 151 Officerintroduced the Annual Statement of Accounts 2014/15.

In her presentation, she confirmed that the accounts were free from error (as quoted from the Executive Summary in the presented agenda report).

It was then RESOLVED that approval be given to the:

1.       wording of the Letter of Representation (as outlined at Appendix A of the presented agenda report) and

2.       audited Statement of Accounts and Technical Appendix for the financial year ended 31 March 2015 (as outlined at Appendix B of the presented agenda report).

               Report from Grant Thornton

*AC 17           

The representative from Grant Thorntonintroduced the Audit Findings for West Devon Borough Council.

There were minor issues surrounding journal entries (as noted in Appendix A of the presented agenda report) but no inappropriate behaviour was found. 

A minor weakness in the Council’s payroll system had been found, however remedial action had since been taken this year.

The ‘RAG’ (Red, Amber, Green) rating was found to be ‘Green’ which was welcomed by the Committee.

Report of the Internal Audit Manager

*AC 18         

The representative from Devon Audit Partnership introduced the report on the progress of the Internal Audit Plan.

It was then RESOLVED that the audit plan is noted.

Report of the Finance Specialist Accountant

*AC 19         

The s151 Officer introduced the Annual Treasury Management Report for 2014-15. The Committee noted the executive summary for the income from investments showed a return of 0.10% return on investments over the benchmark for 14/15. 

It was then RESOLVED that:

1.        the 2014-15 prudential and treasury indicators in the report be approved; and

2.       The Annual Treasury Management Report for 2014-15 be noted.