Our annual accounts for the preceding financial year are prepared in the period from April to July. Under the Accounts and Audit Regulations 2003 we are required to produce a summary revenue account and a balance sheet with supporting statements. We are also required to produce a Annual Governance Statement (previously the Statement on Internal Control).
During the year the Cabinet receives reports on financial performance by each department and the accounts are approved at a meeting of the Council in the summer.
The accounts are audited by an external auditor. They submit their report on the accounts (the Audit Letter) to councillors in the autumn.
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