Constitution - Part 5G - Financial standing orders - FR7 Accounting and Final Accounts

 

 

25.1 The Section 151 Officer will issue closure of accounts guidance, which will include the timetable and process for achieving closure of the County Council's accounts for each financial year, and each Director will ensure that any information which is required by the Section 151 Officer is supplied accurately in accordance with accounting conventions and any deadlines which are prescribed. 

25.2 The Section 151 Officer will ensure that accounting entries are processed according to the specified timetable and deadlines.

The annual statement of accounts

25.3 The Section 151 Officer is responsible for ensuring that the annual statement of accounts (including Pension Fund Accounts) is prepared in accordance with proper practices as set out in the Code of Practice on Local Authority Accounting in the United Kingdom, and regulations  The Section 151 Officer will sign and date the statement of accounts, stating that it is gives a 'true and fair' view of the financial position and transactions of the County Council, including group financial statements where the County Council has material interests in subsidiaries, associates or joint ventures.

25.4 The Audit and Assurance Committee is responsible for approving the annual statement of accounts by the statutory deadline, and to receive reports from the external auditor relating to any material issues relating to the Accounts.

Accounting Systems and Records

26.1 The Section 151 Officer is responsible for determining the accounting systems, procedures and records for the County Council, and providing guidance and advice on all accounting matters.

26.2 The Section 151 Officer will ensure that the financial data held within the County Council's corporate financial systems are maintained accurately and reliably and updated in accordance with agreed timescales and deadlines; and that Directors are provided with appropriate access to systems/information or  reports as may be agreed.

26.3 Directors will adhere to accounting systems, procedures and adopt the form of financial records and statements as determined by the Section 151 Officer.

Returns

26.4 The Section 151 Officer is responsible for certifying financial returns, grant claims and other periodic financial reports required of the County Council.