Issue - meetings

To consider a Financial Resilience Report for the Council prepared by the Council’s external auditors, Grant Thornton.

(Report attached)

The Leader welcomed Zoe Thomas from Grant Thornton to the meeting.  She presented the external auditors’ report and highlighted that the auditors had presented an unqualified Value for Money conclusion.

The main issues highlighted by the Auditors were:

·         the relatively low level of balances held by the Council.  This was now at a critical point;

·         linking the strategic objectives to the Medium Term Financial Plan;

·         increasing the transparency of formal reporting to members.

The Committee noted the actions to be carried out by the Management Team in response to these issues.  Heads of Service were working to be clear where savings would be made between 2014 and 2017.

RESOLVED that

the review of Financial Resilience by the Council’s External Auditors and the actions agreed to be undertaken by the Council be noted.