When you're able to look at and ask questions about our accounts
Inspection of accounts year ended 31 March 2025
Under Accounts and Audit Regulations 2015 Regulations 14 & 15 (as amended the Accounts and Audit Regulations (amendment) 2024), and the Local Audit and Accountability Act 2014 we are required to publish our pre-audited draft accounts by the 30 June 2025
The Amended regulations set out the publication dates of draft (unaudited) accounts for financial years 2024/25 to 2027/28. The period for the exercise of public rights for category 1 authorities must commence on or before the first working day of July.
Where this is not possible a notice to that effect must be published instead.
The Council are not yet able to publish its draft accounts for 2024/2025. The Statement of Responsibilities requires the Chief Finance Officer to declare that the accounts give a true and fair view at the reporting date. This declaration requires a professional judgment based on confidence in the reliability of financial systems.
The Chief Finance Officer has determined that a complete set of accounts will be published. The key areas of the accounts where diligence is still pending are in relation to the valuation of properties and pensions. The Council relies upon the services of professional agencies to provide these valuations along with data to support those assumptions.
The Council has for 2024/2025 changed its provider for property valuations. The data has now been provided and narrative around valuation assumptions concluded. This data is being processed through the fixed asset register with completion of this and the associated accounting actions expected to complete week ending the 4 July 2025.
The work necessary to reflect the conclusion of the Statement of Accounts for 2022/2023 and 2023/2024 as reported to the Council’s Audit Committee in January 2025, may impact on the Pension Actuary’s valuation for 2024/25. An updated valuation by the appointed Actuary and any impact to the balance sheet accounting is expected to complete week ending 4 July 2025.
The Annual Governance Statement, the Statement of Responsibilities and notes to the accounts will be further reviewed, to consider the impacts of the outstanding items above, week ending 11 July. This further review is to ensure that the Chief Finance Officer is satisfied that the Draft Statement of Accounts 2024/2025 provide a true and fair view at the reporting date.
Given that the draft accounts are not published on the due date of 30 June 2025, the statutory inspection period for the general public is also delayed. We will make available the accounts and supporting documentation from the first working day following the date of publication of those draft accounts. The draft accounts are expected to be published on 14 July 2025.
Further notifications will be placed on the website once the 2024/25 Draft Statement of Accounts is available for public inspection.