Issue - meetings

(i)       to approve the Annual Governance Statement as included in the Council’s unaudited Annual Accounts for the financial year 2024/25;

(ii)      to consider the Council’s unaudited Annual Accounts 2024/25;

(iii)      to consider the unaudited Annual Accounts 2024/25 of the Council’s registered charities;

(iv)     to note that following the meeting the Council’s and the registered charities’ unaudited Annual Accounts would be finalised, signed by the Chief Officer - Finance and submitted to the Council’s external auditors, Audit Scotland;

(v)      to note that the Audit, Risk and Scrutiny Committee on 26 June 2025 would receive the Council’s audited Annual Accounts for consideration and approval prior to their signature by the Chief Officer - Finance, Chief Executive and Council Co-Leaders;

(vi)     to note that the Audit, Risk and Scrutiny Committee on 26 June 2025 would also receive the external auditor’s report on the annual accounts for debate and consideration and that the report would set out the auditor’s findings and conclusions, highlight any significant issues arising from the audit of the Annual Accounts and inform Elected Members of the proposed audit opinion in advance of the accounts being approved;

(vii)     to note that the Audit, Risk and Scrutiny Committee on 26 June 2025 would also receive the audited Annual Accounts for the registered charities for consideration and approval prior to their signature along with the associated external auditor’s report;

(viii)    in response to a question regarding the Common Good Fund balance sheet showing a decrease in the value of its net assets and the reasons for this, to note that the Chief Officer – Finance would circulate by email information relating to the assets;   

(ix)     in response to a question regarding the significant difference to note to debtors for public corporations and trading funds from the previous year, to note that the Chief Officer – Finance would circulate by email details relating to the debtors information; and

(x)      to otherwise note the responses provided to members questions.

The Committee had before it a report by the Executive Director of Corporate Services which (1) provided Elected Members with an overview of the Council’s 2024/25 unaudited Annual Accounts; (2) presented the Annual Governance Statement for scrutiny and approval; and (3) presented the unaudited Annual Accounts for those registered charities where the Council was the sole trustee and was subject to statutory requirements for separate accounts and audit opinions.

The report recommended:-

that the Committee -

(a)      approve the Annual Governance Statement as included in the Council’s unaudited Annual Accounts for the financial year 2024/25;

(b)      consider the Council’s unaudited Annual Accounts 2024/25;

(c)      consider the unaudited Annual Accounts 2024/25 of the Council’s registered charities;

(d)      note that following the meeting the Council’s and the registered charities’ unaudited Annual Accounts would be finalised, signed by the Chief Officer - Finance and submitted to the Council’s external auditors, Audit Scotland;

(e)      note that the Audit, Risk and Scrutiny Committee on 26 June 2025 would receive the Council’s audited Annual Accounts for consideration and approval prior to their signature by the Chief Officer - Finance, Chief Executive and Council Co-Leaders;

(f)       note that the Audit, Risk and Scrutiny Committee on 26 June 2025 would also receive the external auditor’s report on the annual accounts for debate and consideration and that the report would set out the auditor’s findings and conclusions, highlight any significant issues arising from the audit of the Annual Accounts and inform Elected Members of the proposed audit opinion in advance of the accounts being approved; and

(g)      note that the Audit, Risk and Scrutiny Committee on 26 June 2025 would also receive the audited Annual Accounts for the registered charities for consideration and approval prior to their signature along with the associated external auditor’s report.

In response to a question regarding the dates with tbc next to them within the table at section 3.16, the Chief Officer – Finance advised that these were indicative dates based on the previous year and that the dates for submission of the accounts would be announced by the Scottish Government in due course.

In response to a question regarding whether the governance arrangements for the London Stock Exchange had changed since the Council had joined, the Chief Officer – Finance advised that quarterly reports and scrutiny of the credit rating had been introduced from the start.

In response to a question regarding the increase in the level of debt, the Chief Officer - Finance advised that the debt was spread between housing and non housing investment programmes and that the figure was expected to rise based on the current Prudential Indicators. 

In response to a question regarding re-payments of short term debt and how this was rolled over and paid off, the Chief Officer – Finance advised that using short term borrowing reduced the burden of locking in higher levels of debt over a longer period of time. 

In response to a question regarding the leasing arrangements for Hydrogen Buses that were currently  ...  view the full minutes text for item 9