Issue - meetings

Decision:

·        That the Letter of representation, included in Appendix 1 of the circulated report, be approved.

·        That the final 2022/23 Statement of Accounts, included in Appendix 2 of the circulated report, be approved.

·        That the Annual Governance Statement, included in Appendix 3 of the circulated report, be approved.

·        That the Chair of Governance and Audit Committee be authorised to provide their electronic signature for both the Letter of Representation and the Statement of Accounts.

Officers went on to provide a summary of the audited Statement of accounts. Chair raised point to the use of acronyms being used within the report.

Members were informed the audited statement of account was one that was provided following completion of the annual audit. The accounts are prepared in line with legislation and were provided to Audit Wales on the 26^th May 2023 for commencement, with the draft commended to Committee in June 2023.

It was further mentioned, that it was pleasing to receive an unqualified audit opinion.

The annual governance statement was also presented to the Committee.

The Chair raised queries surrounding 6 assets lists within the report and asked for clarity. Officers stated 1.8 million pound formed the former burrows yard site, Bryndulais Avenue depot, Seven Sisters, Canolfan Sheltered Housing, land at North Rhondda South Pit Glyncorrwg, part of the Goytre Cycleway and  land at Heol Y Croes Cwmavon,

Officers confirmed that any assets held for sale are valued each year.   

Members went on to raise a query surrounding unusable reserves and the sharp increase noted. Officers stated, it was particularly due to pension schemes, part of which were used within the reserves and the other was liability. Members were told, a valuable had been undertaken in 2020, and further carried out every three years. Factored which attributed to the increase, included inflation and mortality.

Decision:

·       That the Letter of representation, included in Appendix 1 of the circulated report, be approved.

·       That the final 2022/23 Statement of Accounts, included in Appendix 2 of the circulated report, be approved.

·       That the Annual Governance Statement, included in Appendix 3 of the circulated report, be approved.

·       That the Chair of Governance and Audit Committee be authorised to provide their electronic signature for both the Letter of Representation and the Statement of Accounts.