Decision details

The Cabinet Member for Finance, Modernisation and Performance, Councillor Weaver proposed the Statement of Accounts 2016/17 and the Annual Compliance Reports. This was seconded by Councillor Hinchey. 

The report required Full Council to approve

• the audited Statement of Accounts for the year ending 31 March 2017;
• to note the reports of the Wales Audit Office on the Statement of Accounts of Cardiff Council, Cardiff and Vale of Glamorgan Pension Fund and Cardiff Port Health Authority for the year ending 31 March 2017;
• to note the Treasury Management Annual Report for 2016/17; and
• to note that formal documents will be signed at the conclusion of the meeting prior to 30 September 2017.

The Cabinet Member advised that the accounts had been subject to thorough scrutiny by the Audit Committee and Wales Audit Office, and put on deposit in accordance with statutory requirements.

The Cabinet Member thanked the Corporate Director of Resources and officers for the work required to produce and finalise the Statement of Accounts.

The Lord Mayor invited the Finance Spokespersons from each Group to speak prior to opening the item up for debate.

The following comments were raised during the debate in relation to:

• statement on the financial health of Cardiff Bus
• adequacy of income and attempt to persuade Welsh Government to change the allocation of Business Rates;
• concerns around high level of debt and need to increase income
• value of the Pension fund for Cardiff & Vale and how it can be used

The Cabinet Member responded to the matters raised in relation to income and business rates and explained the work of the Pension Committee that oversees the Cardiff and Vale Pension Fund.  The Cabinet Member agreed to provide a written response in respect of Cardiff Bus. 

RESOLVED – That

1. the audited Statement of Accounts for the ended 31 March 2017 were approved;

2. the Audit reports of the Wales Audit Office on the Statement of Accounts of County Council of the City and County of Cardiff, Cardiff and Vale of Glamorgan Pension Fund, Cardiff Port Health Authority and Cardiff Harbour Authority for the year ending 31 March 2017 were noted;

3. the final Letters of Representation for the County Council of the City and County of Cardiff, Cardiff and the Vale Pension Fund and Cardiff Harbour Authority were noted;

4. the following documents to be formally signed at the conclusion of the meeting were noted:

·         Statement of Accounts for County Council of the City and County of Cardiff including the Cardiff and Vale of Glamorgan Pension Fund – Lord Mayor and Corporate Director Resources.

·         Statement of Accounts for Cardiff Harbour Authority – Corporate Director Resources.

·         Annual Return of Cardiff Port Health Authority – Corporate Director Resources and Lord Mayor.

·         Annual Governance Statement (within the accounts) – Leader of the Council and Chief Executive.

·          Audit Certificate for the County Council of the City and County of Cardiff, Cardiff and the Vale of Glamorgan Pension Fund and Cardiff Harbour Authority – Appointed Auditor, Wales Audit Office. To be signed at a later date.

·         Letters of Representation for the County Council of the City and County of Cardiff – Corporate Director Resources and Lord Mayor.

·         Letter of Representation for Cardiff and Vale of Glamorgan Pension Fund – Corporate Director Resources and Lord Mayor.

·         Letters of Representation for Cardiff Harbour Authority – Corporate Director Resources and Lord Mayor

5.  the Treasury Management Annual Report for 2016/17 was noted.