Agenda item

Report of the Chamberlain.

Members received a report of the Chamberlain concerning the City’s Cash Financial Statements for 2022/23.

Members noted that the Audit and Risk Management had recommended approval of the statements at its meeting on 6 November 2023. Officers hoped that the statements would be signed off by the end of November.

Members noted that the definition of material changes was set out by the auditors, but that it generally meant anything that would affect their true and fair opinion. The Chairman confirmed that the Committee would be notified should the Chamberlain use the delegation to approve any material changes.

RESOLVED, that – Members:

a)    Note the contents of the Draft City’s Cash Initial Audit Findings Report 2022-23 issued by Crowe UK LLP as set out in Appendix 4.

b)    Approve the 2022-23 City’s Cash Financial Statements, and the financial statements of each of the 9 consolidated charities, for the year ended 31 March 2023, to be signed by the Chairman and Deputy Chairman of the Finance Committee on behalf of the Court of Common Council.

c)    Authorise the Chamberlain, in consultation with the Chairman and Deputy Chairman of the Finance Committee, to approve any material changes to the statement of accounts and annual reports and financial statements required before the signing of the audit opinion by Crowe UK LLP – which is expected by the end of November 2023 for City’s Cash consolidated financial statements, and for the consolidated charities.