Agenda item

Report of the Chamberlain.

Members considered a report of the Chamberlain relative to the City’s Cash Financial Statements for 2018/19. The report was read in conjunction with the City’s Cash Annual Report and Financial Statements for the Year Ended 31 March 2019 at Agenda Item 8, and the BDO City’s Cash and the Sundry Trust Audit for the Year Ending 31 March 2019 at Agenda Item 9. Following discussion with the Chamberlain and BDO, with particular emphasis on issues of tax liability on the Barking Power Station, Members agreed that the Committee would not recommend the City’s Cash Financial Statements for the year ended 31 March 2019 to the Finance Committee.

RESOLVED, that:

1.    the Chairman be provided with the most recent Barking Power Station accounts, the last accounts prior to acquisition, a balance sheet update and explanation of any changes made to accounts. This was requested by 26 November 2019 in order for the amended accounts to be dealt with under Delegated Authority for approval by the Chairmen of Finance and Audit and Risk Management, and published by the 30 November 2019 deadline.