Agenda item

Report of the Managing Director

The Managing Director submitted a report (previously circulated) updating Members on the Final Accounts Closedown Timetable for 2020/21.

It was reported that the timetable detailed target dates for key actions in order to complete the Statement of Accounts in line with statutory deadlines and highlighted that the timetable served as a tool for monitoring progress against the target dates to ensure compliance with the statutory deadlines.

It was also reported that the Audit Committee were responsible for approving the audited set of accounts on or before 31 July 2021; and due to a potential change in the regulations brought about by recommendations in the ‘Redmond Review’ (also appended to the submitted report); it was likely that the statutory deadlines would change to 31 July 2021 for the unaudited Statement of Accounts and 30 September 2021 for the full approval.

The Finance Manager closely monitors the achievement of the dates in the timetable throughout the final accounts period, following up delays and missed deadlines to ensure the overall timetable is achieved.

RESOLVED – That the key dates in the Final Accounts Timetable for 2020/21, as appended to the submitted report, be noted.