Agenda item

The Finance Manager and Jennifer Norman, Audit Manager at Forviz Mazars, presented the report which is to seek approval for audited Statement of Accounts for 2024/25 and for Members to consider the External Auditors’ Audit Completion Report 2024/25 and External Audit Annual Report for 2024/25.

At the publication of the report the pension update had not been received, this update has now been received and no changes are necessary to the figures. It was noted that this is the earliest that this audit completion report has been brought to the Authority the deadline being February 2026.  No significant control regulations have been raised.

The following points from Members were discussed:

·       Congratulations to the Finance Team and the external Auditors for the early completion of the reports.

·       Page 127 of the report shows the net position in the pension fund as at 31/03/2025 which is invested on behalf of the Authority by Derbyshire County Council and details a significant increase in the value on the previous year.

·       There was concern that recommendation 3 was rather passive and should there be a follow-up report from officers to show that work has been completed? – this process is already in place as part of the External Audit.

·       There is a requirement of officers to implement the requirements of the external report – the responsibility lies with the Auditors and the controls they have in place over the 12 months. 

·       The Finance Manager will provide a mid-year report back to Authority.

The recommendations as set out in the report with an additional recommendation (number 6) were proposed, seconded, put to the vote and carried.

RESOLVED:

1. To approve the audited Statement of Accounts for 2024/25 at Appendix 1.

2. To delegate authority to the Chief Financial Officer in consultation with the Chair and Vice-Chair of the Authority to update the Statement of Accounts with the pension valuation figures when received, prior to publication of the audited Statement of Accounts for 2024/25.

3. To consider and note the External Auditor’s Audit Completion Report (ACR) 2024/25 at Appendix 2.

4. To consider and note the External Audit Annual report (AAR) 2024/25 at Appendix 3.

5. To note that the Statement of Accounts & associated Letter of Representation, will be signed by the Chair of the Authority and by the Chief Financial Officer, once the external audit has been completed, provided that the overall opinion in the audit report remains unqualified.

6. That the Chief Financial Officer will bring back a mid-year report to Full Authority to report on progress with the actions required in the Audit Completion Report (ACR).

11:31am The meeting adjourned for a 10 minute break and reconvened at 11:41am