Agenda item

Audited 2014/15 Bridge House Estates and Sundry Trusts Financial Statements together with Moore Stephens Report thereon

Meeting of Audit and Risk Management Committee, Monday, 20th July, 2015 1.45 pm (Item 8.)

Report of the Chamberlain.

Minutes:

The Committee considered the 2014/15 Bridge House Estates, City’s Cash Trust Funds and Sundry Trust Funds Annual Reports and Financial Statements together with Moore Stephens’ report thereon. The Chamberlain advised that an unqualified audit opinion was expected and this position was confirmed by Moore Stephens. Moore Stephens advised that two risks, which had been highlighted in their Audit Plan when it was presented to the Committee in December, had been resolved satisfactorily. The Audit Review Panel had met and all Panel Members had approved the accounts.

Moore Stephens drew attention to the need to prepare in good time for the new Charity Accounting Regulations coming into effect for 2015/16, in particular that work on the 2014/15 comparators should start early.

RESOLVED – That, the Annual Reports and Financial Statements for Bridge House Estates, City’s Cash Trust Funds and the Sundry Trust Funds for the year ended 31 March 2015 be recommended for approval to the Finance Committee.