Agenda item

Report of the Chamberlain.

The Committee received a report of the Chamberlain concerning an update on the publication and audit of the 2023/24 Statement of Accounts for the City Fund and Pension Fund.

The following points were noted:

• The Committee expressed appreciation for the efforts made by officers in getting the accounts to a stage where they could be discussed in the summer of 2024.
• It was noted that the audit for the City Fund was starting, and there was a clarification that the backdrop has been dropped, but it did not affect the City Fund audit work.
• There were questions about the backdrop and its implications, with an update provided that the general election had caused a pause in the backstop arrangements but was expected to be picked up by the new government.
• The audit is underway and on track, with expectations to finish within the calendar year.