126 Statement of Accounts 2022/23 PDF 183 KB
To receive a report of the Deputy Chief Executive and Director of Corporate Operations, seeking approval for the Statement of Accounts for Hampshire County Council and the Hampshire Pension Fund for the period ending 31 March 2023.
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Minutes:
The Committee received a report of the Deputy Chief Executive and Director of Corporate Operations, seeking approval for the Statement of Accounts for Hampshire County Council and the Hampshire Pension Fund for the period ending 31 March 2023.
The Chairman thanked officers for providing a briefing to the Committee on the detail of the Statement of Accounts ahead of the meeting. The Chairman noted it would be helpful, if the proposed recommendations were agreed, for the Committee to see a note of any changes made under the delegated authority.
Members heard that it was anticipated that the audit process for 2022/23 would be completed in a more timely manner than the previous year’s audit as a temporary resolution was in place for the issues relating to the valuation of infrastructure assets and the tri-annual valuation of the pension fund would not impact upon the 2022/23 audit.
It was further advised that proposals were being considered by the DLUHC to implement a back stop date for completion of 2022/23 local authority audits, to bring timeframes back in line with those in place before the impact of the national infrastructure valuation issues. It was anticipated that any audits not completed by the backstop date, would receive a qualified opinion, as a result of the auditors being unable to complete the audit. Whilst the position relating to the backstop date was being considered nationally, Ernst and Young had paused the 2022/23 audit planning for local authority audits, aside from Pension Fund audit plans. Officers were clear that, should this be the case for the audit of Hampshire County Council, the narrative would reflect that a qualified opinion would not have derived from any fault on behalf of the local authority, and therefore the County Council proposed to proceed with publishing the Statement of Accounts within the usual timeframes.
RESOLVED:
· That the Statement of Accounts for 2022/23 for Hampshire County Council and the Hampshire Pension Fund be approved (Appendix 3)
· That delegated authority be given to the Deputy Chief Executive and Director of Corporate Operations to approve minor changes to the accounts agreed between the County Council and Ernst and Young (EY) prior to the issue of the final audit opinion and publication of the audited Statement of Accounts. Should any non-minor changes be required as a result of the audit of the accounts, the Statement of Accounts for 2022/23 would be brought back to the Audit Committee for review and re-approval.
· That it is noted that the 2022/23 accounts have not yet been audited due to issues outside of the County Council’s control that have resulted in a backlog of local audit opinions across the country.
· That it is noted that the County Council will publish the unaudited accounts on its website together with a notice in accordance with regulation 10(2)(a) of the Accounts and Audit Regulations 2015 stating that it has not been able to publish the audited statement of accounts and the reasons for this.
· That it is noted that the ... view the full minutes text for item 126