Issue - meetings

The committee received and considered a report presenting the unaudited Statement of Accounts, which was approved for issue to the Auditor, KPMG, by the Director of Corporate Services (S151 Chief Finance Officer) on the 22^nd June 2026. 

It was advised that the committee was being asked to scrutinise and comment on the document. The committee would be provided with training prior to consideration of the final accounts at the November meeting. The legislative background and layout of the document was outlined. A couple of amendments to figures in the paper were highlighted and it was noted these would be amended in the final document.

The key message was that the council had good reserve levels and a robust medium-term financial strategy with no material uncertainty at this stage. The hard work of the finance team in preparing the account was acknowledged.

A member congratulated the team on meeting all the deadlines and the committee concurred.

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The issue of reserves was raised and it was highlighted that the issue of usable reserves and what expenditure these could be used for. It was noted that the difference appeared to be £10m and it was asked if this was an accurate figure. It was noted that any decisions on using reserves would go through the committee process.

A member asked about the financial position of companies associated with the council and sought further information. It was noted this would be forthcoming at a later meeting.

In relation to the external audit it was noted that last time the indicative external audit plan said and we said that materiality would be a level of £1.5m but this was now £1.3m. It was confirmed that any significant amendments would be reported further.

The committee formally expressed their thanks to the finance team for their hard work.

RESOLVED:

That the Unaudited Statement of Accounts 2025/26 be noted and any comments be referred to the Section 151 Officer and the Council’s external auditors, KPMG fo inclusion in the final report.