A report was considered by the Committee which advised Members on the plans for the financial year end 31 March 2016 and the preparation of the Council’s Financial Statements for 2015-2016.
The Committee was asked to recognise the outcomes of a review of the year end timetable and processes which identified three areas which had an impact on compliance with the timetable for investigation;
· Pension Information;
· Processing allocation journals; and
· Capital Financed from Revenue.
Decision
The Audit Committee noted that plans are in place to prepare the Council’s financial statements, consistent with the Accounting Code of Practice, to be submitted to Council prior to 30 June 2016 in line with the Scottish Government’s requirements.
(Reference: Report by Head of Strategic Finance dated March 2016, submitted)