CHILTERNS CREMATORIUM JOINT COMMITTEE

 

MEETING 16th June 2009

 

 

 

7

REPORT OF THE TREASURER – 2008/09 STATEMENT OF ACCOUNTS

 

     (Contact Officer: Alison Howes  01494 732260)

 

 

 

1

The Chilterns Crematorium Joint Committee Statement of Accounts for the financial year 2008/09 has now been finalised, subject to external audit by the Audit Commission and is attached at Appendix 7.1. The accounts are still draft at this stage and there may be some minor amendments arising from the audit. They are being presented for approval by the Joint Committee, the final version, following the audit will be available for publication after completion of the audit.

 

 

 

2

The main point to note arising from the accounts is that a net surplus for the year of £608,333 is reported which has been allocated to constituent authorities in accordance with agreed accounting policy. This is after a revenue contribution to finance capital expenditure incurred during the year of £90,202.

 

 

 

3

The overall cumulative position on constituent authorities’ shares is a surplus of £1,751,433 and as previously agreed this is being held to fund future capital projects e.g. filtration system.

 

 

 

4

The accounts continued to be prepared in accordance with Financial Reporting Standard 17 Accounting for Retirement Benefits. Although these accounting entries do not impact on the overall financial performance of the Crematorium they do recognise the pension fund liability in the balance sheet and thus reduce the reported net worth of the Crematorium.

 

 

 

5

The Crematorium Accounts are subject to a full audit and are required to be compliant with Statements of Recommended Accounting Practice (SORPs).

 

 

 

6

Under section 3 of the Audit Commission Act 1998 external auditors are appointed by the Audit Commission for certain local government bodies, including joint committees of two or more local authorities. For 2008/09 through to 2012/13 the Audit Commission’s own Southern Region has been appointed as external auditors to the Joint Committee, these auditors have also been appointed over the same period for Chiltern District Council.

 

 

 

7

The Accounts for 2007/08 are still awaiting sign off from Grant Thornton; this is despite numerous requests by officers for completion. Grant Thornton’s report is expected on 19th June 2009. Any issues arising will be reported orally at the meeting.

 

 

 

Recommendations

 

 

 

1.

Delegated authority be given to the Treasurer to make any further minor amendments that may be required as a result of the Grant Thornton report.

 

2.

The Statement of Accounts for 2008/09 be adopted and signed by the Chairman, any minor amendments required as a result of the audit be delegated to the Treasurer and if required reported to the next meeting of the Joint Committee.