The statement of accounts presents the financial position of the Council at the end of the financial year and its income and expenditure to the end of that year. The Council’s financial year is 1st April to the 31st March.
The annual Statement of Accounts have to be approved by the Audit Committee before the end of June following the year end closure date of the 31st March. In addition, the Council’s external auditors, the Audit Commission, are required to audit and ‘sign off’ the accounts by the end of September.
An unaudited summarised statement of accounts is also produced, which provides a much simplified version of the financial information.