Issue - meetings

To seek approval for the Accounting Policies used within Derbyshire Dales District Council’s Statement of Accounts 2021/22, highlighting any changes from last year.

Councillor Claire Raw left the meeting at 7:37pm.

The Director of Resources introduced a report which sought Member approval of the Accounting Policies used within Derbyshire Dales District Council’s Statement of Accounts 2021/22 and highlighted any changes from last year. Members were informed that the Council must publish its draft Statement of Accounts 2021/22 by the 31st July 2022.

The report presented the accounting policies that the Council would apply in the preparation of the Statement of Accounts for 2021/22. Members were informed that Officers had assessed the accounting policies deemed necessary to explain clearly and underpin the accounting treatment of transactions within the Council’s Statement of Accounts for 2021/22.

With specific regard to the accounting policies proposed in respect of 2021/22, these were largely unchanged from previous years. However, it was proposed to amend the rolling revaluation programme for fixed assets from every 5 years, which is the minimum requirement, to every 3 years. It was expected that this amendment would improve the accuracy of the fixed asset valuations held within the Balance Sheet, whilst also reducing the impact of that the annual impairment review.

It was also noted that as the Statement of Accounts for 2021/22 is prepared, it may be necessary to amend a policy in order to adopt a more appropriate accounting policy. If this were to occur, the change and the reason for the change would be reported back to this Committee at its next available meeting and / or would be highlighted within the report when the Statement of Accounts is presented to Members for approval.

It was moved by Councillor Garry Purdy, seconded by Councillor Jason Atkin and

RESOLVED (Unanimously)

That the 2021/22 Accounting Policies be approved for use within the Statement of Accounts.

The Chairman declared the motion CARRIED.