Issue - meetings

Report by Head of Strategic Finance

A report advising on the plans in place for financial year end 31 March 2011 and the preparation of the Council’s Financial Statements for 2010-11 was considered.  2010-2011 is the first year where the Financial Statements will be fully prepared in accordance with International Financial Reporting Standards (IFRS).  Under the transitional arrangements the Financial Statements will include restated comparative figures for 2009-10 and a third balance sheet as at 1 April 2009.

Decision

Noted that plans are in place to prepare the Council’s Financial Statements, consistent with the Accounting Code of Practice, and submit them to Council prior to 30 June 2011 in line with the Scottish Government’s requirements.

(Reference: Report by Head of Strategic Finance dated 21 February 2011, submitted)