Agenda and minutes

No declarations of interest were made.

RESOLVED

that the minutes of the meeting of the Committee held on 10 February 2020,

be received and approved as a correct record.

The Council’s Chief Accountant presented the report and requested Committee Members to consider the accounting policies that the Council were proposing to adopt for the current financial year in the preparation of their Statement of Accounts for 2019/20.

RESOLVED that

a)    the Accounting Policies, as appended to the report, be approved whilst noting no major changes to the policies, only minor changes ensuring the wording remained in line with the latest version of the Code of Practice on Local Government Accounting;

b)    it be noted that any proposed amendments or changes to the policies and associated relevant financial implications will be reported back to the Committee as appropriate.

b)

The Council’s Chief Accountant presented the report and explained the purpose of the IAS19 (International Accounting Standards) and what assumptions had been made by the Pension Fund Actuary as outlined in the briefing note as appended.

RESOLVED

that having taken account of the Actuary’s briefing note as appended to the

report and the comments made in the Committee report, the IAS 19 assumptions be agreed as the basis for the calculation of the pension figures required for the 2019/20 Statement of Accounts.