The Treasurer presented the Abstract of Accounts 2019/20, drawing Members attention to significant negotiations with idverde during the year relating to income and confirmation had been received that income would be received in accordance with the original agreement, therefore there had been a large adjustment for income due in 2018/19 and 2019/20. In addition there were a number of projects due to be undertaken during the year, specifically around bearer beams and the safety of memorials. There were delays to start the programme due to testing of memorials to be undertaken and an update was included in the Contractor report in the following item. The programme of works was due to go ahead when the Pandemic hit and therefore the work due to be undertaken during March had to be delayed and this also resulted in a substantial underspend.
The Treasurer advised that a number of funds and balances had been cleared down and with the additional income, the common fund was just over £1m and therefore it was proposed that approximately £600k of that be invested to generate some more income for the Board going forward. The pension fund was now in a positive position and there would be no secondary charge, so the revenue estimate had been adjusted accordingly.
The Accounts had already been signed off by the Council’s internal auditors and once approved would be sent to the external auditors for review and sign off. The Treasurer drew Members attention to the impact of Covid-19 on the income levels and internment levels.
In response to Members’ questions, the Treasurer advised:
The following question was asked, which would be forwarded to the Client Side Manager for a response:
Members asked if there was a way of expressing pandemic deaths in the risk register in a more sensitive way. It was acknowledged that there was a need to assess and report risk in a factual way, some felt that it should also be mindful of the language used in a public document. The Chair asked that the comments be reflected in the minutes as it was not possible to amend the wording of the risk register in a satisfactory way.
RESOLVED