Agenda item - Unaudited Statement of Accounts 2011/12

Report of the Director of Finance (report attached, statements to follow)

12.1         The Committee considered a report of the Director of Finance in relation to the Statement of Accounts 2011/12. The report presented the unaudited Statement of Accounts for 2011/12 for information which had not currently been audited by the external auditor. The Annual Governance report was expected at the September meeting of the Committee on the conclusion of the audit of the 2011/12 financial statements.

12.2         Councillor Janio asked a question in relation to the valuation of heritage assets, and it was explained that the valuations related to insurance valuations and were like to be higher than - and not reflect – the market value.

12.3         RESOLVED - That the Committee note the Statement of Accounts for 2011/12 and note that these are subject to audit.