Annual governance report - Borough of Copeland · Annual governance report % PFI asset. the PFI...
38
Annual governance report
Transcript of Annual governance report - Borough of Copeland · Annual governance report % PFI asset. the PFI...
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�A
ud
it o
pin
ion
an
d f
ina
ncia
l sta
tem
en
ts..
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...3
Va
lue
fo
r m
on
ey
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.3
Op
inio
n o
n t
he
fin
an
cia
l sta
tem
en
ts..
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.....5
Err
ors
in
th
e f
ina
ncia
l sta
tem
en
ts..
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.5
Op
inio
n o
n t
he
Au
tho
rity
acco
un
tin
g s
tate
me
nts
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..1
8
Co
nclu
sio
n o
n A
uth
ori
ty’s
arr
an
ge
me
nts
fo
r se
cu
rin
g e
co
no
my,
eff
icie
ncy a
nd
eff
ective
ne
ss in
th
e u
se
of
reso
urc
es..
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19
Re
d
Am
be
r
Gre
en
� � �� �� ��
Un
qu
alif
ied
au
dit o
pin
ion
Pro
pe
r a
rra
ng
em
en
ts t
o s
ecu
re v
alu
e f
or
mo
ne
y
My d
raft
un
qu
alif
ied
au
dit r
ep
ort
co
ve
rin
g t
he
op
inio
n a
nd
va
lue
fo
r
mo
ne
y c
on
clu
sio
n is a
t ap
pe
nd
ix 1
. T
he
fin
an
cia
l sta
tem
en
ts w
ere
pre
pa
red
an
d s
ub
mitte
d f
or
au
dit o
n tim
e.
Th
e C
ou
ncil
ha
s h
ad
to
pre
pa
re a
cco
un
ts t
o c
om
ply
with
th
e
Inte
rna
tio
na
l F
ina
ncia
l R
ep
ort
ing
Sta
nd
ard
s (
IFR
S)
co
de
fo
r th
e f
irst
tim
e t
his
ye
ar.
Th
is w
as a
ch
alle
ngin
g t
ask a
nd
a n
um
be
r o
f
am
en
dm
en
ts h
ave
be
en
ma
de
to
th
e a
cco
un
ts a
nd
re
late
d d
isclo
su
re
no
tes t
o e
nsu
re t
he
fin
ancia
l sta
tem
en
ts g
ive
a t
rue
an
d f
air
vie
w a
nd
to
co
mp
ly w
ith
fir
st
ye
ar
ad
op
tio
n o
f IF
RS
. T
he
Co
un
cil
ha
s a
lso
ha
d t
o
de
al w
ith
som
e c
om
ple
x a
cco
un
tin
g issu
es r
ela
tin
g t
o its
PF
I sch
em
e.
Th
e k
ey issu
es f
rom
my w
ork
on
th
e C
ou
ncil’
s 2
01
0/1
1 a
ccou
nts
are
:
o
ne
ma
teri
al e
rro
r in
th
e a
cco
un
ts r
ela
tin
g t
o u
sin
g t
he
in
co
rrect
va
lua
tio
n b
asis
fo
r so
me
Co
mm
un
ity a
sse
ts;
a
cco
un
tin
g fo
r a
nd
re
-va
luin
g t
he
PF
I a
sse
t h
as a
ga
in r
ep
rese
nte
d
a s
ign
ific
an
t ch
alle
ng
e f
or
the
Co
un
cil.
Th
e P
FI
asse
t w
as r
eva
lue
d
on
th
e w
ron
g b
asis
altho
ug
h t
his
did
no
t le
ad
to a
ma
teri
al e
rro
r;
th
e C
ou
ncil
ha
s in
terp
rete
d a
nd
ap
plie
d t
he
ne
w C
od
e in
co
rre
ctly in
se
ve
ral a
rea
s a
nd
th
ese
le
d t
o a
me
nd
me
nts
in
th
e p
rim
ary
sta
tem
en
ts a
nd
no
tes.
I h
ave
re
ce
ive
d a
n o
bje
ctio
n t
o t
he
20
10
/11
acco
un
ts a
nd
am
th
ere
fore
un
ab
le t
o c
lose
th
e 2
010
/11
au
dit b
y 3
0 S
ep
tem
be
r 2
01
1.
I in
ten
d t
o issu
e a
n u
nq
ua
lifie
d c
onclu
sio
n s
tating
th
at
the
Co
un
cil
ha
d
pro
pe
r a
rra
ng
em
en
ts t
o s
ecu
re e
co
no
my,
eff
icie
ncy a
nd
eff
ective
ne
ss
in its
use
of re
so
urc
es f
or
20
10
/11
. I h
ave
co
nclu
de
d t
he
pre
vio
us y
ea
r’s
qu
alif
ica
tio
ns in
re
sp
ect o
f str
ate
gic
asse
t m
an
ag
em
en
t a
nd
wo
rkfo
rce
pla
nn
ing
can
be
re
mo
ve
d a
s t
he
se
are
as n
ow
me
t th
e c
rite
ria
fo
r p
rop
er
arr
an
ge
me
nts
. T
his
re
pre
se
nts
sig
nific
an
t p
rog
ress f
or
the
Co
un
cil.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
� � ���� �� ����
My r
ep
ort
in
clu
de
s o
nly
ma
tte
rs o
f g
ove
rna
nce
in
tere
st
tha
t h
ave
co
me
to
my a
tte
ntio
n in
pe
rfo
rmin
g m
y a
ud
it.
My a
ud
it is n
ot
de
sig
ned
to
id
en
tify
all
ma
tte
rs th
at
mig
ht
be
re
leva
nt
to y
ou
.
� � ���� ���
I ca
n c
on
firm
th
at
I h
ave
co
mp
lied
with
th
e A
ud
itin
g P
ractice
s B
oa
rd's
eth
ica
l sta
nda
rds f
or
au
dito
rs,
inclu
din
g
ES
1 (
revis
ed
) -
Inte
gri
ty,
Ob
jectivity a
nd
In
de
pe
nd
en
ce
. I
ca
n a
lso
co
nfirm
th
ere
we
re n
o r
ela
tio
nsh
ips
resu
ltin
g in a
th
rea
t to
ind
ep
en
de
nce,
ob
jectivity a
nd
in
teg
rity
.
Th
e A
ud
it C
om
mis
sio
n's
Au
dit P
ractice
ha
s n
ot
un
de
rta
ke
n a
ny n
on
-au
dit w
ork
fo
r th
e C
ou
ncil
du
rin
g 2
01
0/1
1.
� ��� ���� ����� �� ���� ����� �� ����� ������ ��� ��
ta
ke
no
te o
f th
e a
dju
stm
en
ts t
o t
he
fin
an
cia
l sta
tem
en
ts w
hic
h a
re s
et
ou
t in
th
is r
ep
ort
(A
pp
en
dix
2);
co
nsid
er
the u
na
dju
ste
d e
rro
rs in
th
e s
tate
me
nts
wh
ich
are
se
t o
ut
in t
his
re
po
rt (
Ap
pe
nd
ix 3
);
a
pp
rove
th
e le
tte
r o
f re
pre
se
nta
tio
n, p
rovid
ed
alo
ng
sid
e t
his
re
po
rt,
on
beh
alf o
f th
e C
ou
ncil
be
fore
I issu
e
my o
pin
ion
an
d c
on
clu
sio
n;
a
gre
e y
ou
r re
sp
on
se
to
th
e p
rop
ose
d a
ctio
n p
lan
(A
pp
en
dix
5).
a
gre
e t
he
ad
ditio
na
l a
ud
it f
ee
of
£8
,26
0 t
o c
ove
r th
e a
dd
itio
na
l w
ork
on
th
e n
ew
PF
I M
od
el, t
he
re
va
lua
tio
n
of
the
PF
I a
sse
t (i
nclu
din
g o
bta
inin
g p
rofe
ssio
nal va
lua
tio
n a
dvic
e),
IF
RS
re
-sta
tem
en
t a
nd
ob
tain
ing
su
ffic
ient
evid
en
ce
to
be
ab
le t
o r
em
ove
th
e p
revio
us y
ea
r’s V
FM
Co
nclu
sio
n q
ua
lific
atio
ns
n
ote
an
ob
jectio
n t
o t
he
acco
un
ts h
as b
ee
n r
ece
ive
d.
My c
osts
in
de
alin
g w
ith
th
is o
bje
ctio
n m
ust b
e m
et
by
the
Co
un
cil.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�
Su
bje
ct
to s
atisfa
cto
ry c
lea
ran
ce
of
so
me
ou
tsta
nd
ing
ma
tte
rs,
I p
lan
to
issu
e a
n a
ud
it r
ep
ort
in
clu
din
g a
n u
nqu
alif
ied
op
inio
n o
n t
he
fin
an
cia
l
sta
tem
en
ts.
Ap
pe
nd
ix 1
co
nta
ins a
co
py o
f m
y d
raft
re
po
rt.
I h
ave
re
ce
ive
d a
n o
bje
ctio
n t
o t
he
201
0/1
1 a
cco
un
ts a
nd
as th
is w
ill n
ot
be
de
term
ine
d b
y
the
30
Se
pte
mb
er
20
11
. T
his
me
an
s t
ha
t a
lth
oug
h I
issu
e m
y a
ud
it o
pin
ion
, I
will
no
t b
e a
ble
to
issu
e t
he
au
dit c
losu
re c
ert
ific
ate
.
Ap
pe
nd
ix 2
su
mm
ari
se
s a
ll o
f th
e m
ate
ria
l a
nd
no
n t
rivia
l e
rro
rs w
hic
h h
ave
be
en
am
en
de
d in
th
e r
evis
ed
se
t o
f a
cco
unts
. I
als
o id
en
tifie
d a
num
be
r o
f
err
ors
an
d o
mis
sio
ns in
th
e r
eq
uir
ed
dis
clo
su
res w
hic
h h
ave
als
o b
ee
n a
me
nd
ed
an
d t
he
se
are
als
o in
clu
ded
at
Ap
pe
nd
ix 2
fo
r co
mp
lete
ne
ss.
Ap
pe
nd
ix 3
su
mm
ari
se
s t
he
un
ad
juste
d e
rro
rs w
hic
h m
an
ag
em
en
t h
as d
ecid
ed
no
t to
am
en
d.
Yo
u w
ill n
ee
d to
co
nfirm
yo
ur
acce
pta
nce
of
an
d th
e
rea
so
ns f
or
this
de
cis
ion
in
th
e le
tte
r o
f re
pre
se
nta
tio
n.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�
In p
lan
nin
g m
y a
ud
it I
id
en
tifie
d s
pecific
ris
ks a
nd
are
as o
f ju
dg
em
en
t th
at
I h
ave
co
nsid
ere
d a
s p
art
of
my a
ud
it.
� ������� � ��
�� �� �
��� ���� ���� ���� ����� !
Pre
pa
ratio
n o
f a
cco
un
ts w
hic
h c
om
ply
with
Co
de
of
Pra
ctice
for
Lo
ca
l A
uth
ori
tie
s b
ase
d o
n I
nte
rna
tio
na
l F
inan
cia
l
Re
po
rtin
g S
tan
da
rds –
ris
k o
f n
on
com
plia
nce
with
ne
w
sta
nd
ard
s.
Th
is h
as b
ee
n a
ch
alle
ng
e f
or
the
Co
un
cil.
I h
ave
re
vie
we
d t
he
re
-sta
ted
1 A
pri
l 2
00
9 p
ositio
n a
nd
th
e r
esta
ted
20
09
/10
acco
unts
.
Info
rma
tio
n w
as p
rod
uce
d o
n a
pie
ce
me
al b
asis
ove
r 2
-3 m
on
ths,
pa
rtly
be
ca
use
of
the
co
mp
lexitie
s o
f P
FI
acco
un
tin
g.
Th
is m
ad
e it a
mo
re d
ifficu
lt p
roce
ss th
an
exp
ecte
d.
I h
ave
re
vie
we
d t
he
20
10
/11
fin
an
cia
l sta
tem
en
ts f
or
co
mp
lian
ce
with
the
IF
RS
ba
se
d
Co
de
an
d I
fo
un
d a
nu
mb
er
of
am
en
dm
en
ts w
ere
re
qu
ire
d a
s o
utlin
ed
in t
he
fo
llow
ing
se
ctio
ns a
nd
Ap
pe
nd
ix 2
an
d 3
.
� �"�� ������� ���� �# �� �$�# ���� ���"�� �����
Pri
va
te F
ina
nce
In
itia
tive
(P
FI)
acco
un
tin
g a
rra
nge
me
nts
an
d t
he
'M
od
el'
use
d t
o g
en
era
te t
he
acco
un
ting
en
trie
s
ne
ed
ed
to
be
re
vie
we
d f
ollo
win
g t
he
20
09
/10
au
dit.
Th
e P
FI
asse
t w
as a
lso
re
-va
lue
d in
20
10
/11
- r
isk o
f p
ote
ntia
lly
sig
nific
an
t ch
an
ge
s t
o t
he
'M
od
el'
use
d t
he
pre
vio
us y
ea
r
an
d a
ris
k t
ha
t a
n in
co
rrect
me
tho
d is u
se
d t
o r
eva
lue
th
e
Th
e C
ou
ncil
en
ga
ge
d e
xte
rna
l co
nsulta
nts
to
re
vie
w its
PF
I m
od
el a
nd
decid
ed
to
use
a n
ew
PF
I M
od
el in
20
10
/11
. T
his
use
d t
he
con
str
uctio
n c
ost
fro
m t
he
op
era
tor’
s
fin
an
cia
l m
od
el ra
the
r th
an
pre
se
nt
va
lue
(P
V)
of
the
min
imu
m le
ase
pa
ym
en
ts (
ML
P)
to a
rriv
e a
t a
n in
itia
l va
lue
fo
r th
e P
FI
asse
t a
nd
lia
bili
ty.
I h
ave
un
de
rta
ken
ad
ditio
na
l
wo
rk t
o r
evie
w t
he
ne
w P
FI
Mo
de
l in
de
tail
an
d I a
m s
atisfied
th
at
the
acco
un
tin
g
tre
atm
en
t is
co
nsis
ten
t w
ith
th
e C
od
e.
I h
ave
als
o c
on
firm
ed
th
e d
iffe
ren
ce
be
twe
en
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
%
� ������� � ��
�� �� �
PF
I a
sse
t.
the
PF
I a
sse
t a
nd
lia
bili
ty a
t th
e b
ala
nce
sh
ee
t da
te o
f th
e t
wo
me
tho
ds is n
ot
ma
teri
al.
Life
cycle
rep
lace
me
nt
co
sts
use
d in t
he
PF
I M
od
el a
re b
ased
on
th
e o
pera
tor’
s
estim
ate
. H
ow
eve
r, t
he
Co
un
cil
will
ne
ed
to
pu
t in
pla
ce
a s
yste
m t
o m
on
ito
r a
ctu
al
life
cycle
costs
fo
r th
e P
FI
asse
t a
nd
on
ly c
ap
ita
lise
th
ose
th
at
me
et
the
de
fin
itio
n o
f
ca
pita
l e
xp
en
ditu
re.
I h
ave
re
vie
we
d t
he
acco
un
tin
g e
ntr
ies g
en
era
ted
by t
he
ne
w P
FI
Mo
de
l a
nd
I a
m
sa
tisfie
d t
hat
the
y,
an
d t
he
pri
or
pe
rio
d a
dju
stm
en
t, a
re c
orr
ect.
Th
e P
FI
asse
t w
as r
e-v
alu
ed
as a
t 31
Ma
rch
20
11
by t
he
Co
un
cil’
s in
-hou
se
va
lue
r
an
d g
ive
n a
va
lue
of
£3
,90
0,0
00
. I
rais
ed
an
aud
it q
ue
ry a
bo
ut
the
ba
sis
of
this
va
lua
tio
n a
nd
th
e v
alu
er
ide
ntifie
d a
sim
ple
err
or
in t
he
ca
lcu
latio
n.
Th
is le
d t
o a
ch
an
ge
in
va
lue
of
the
PF
I a
sse
t, u
sin
g t
he
sam
e v
alu
atio
n m
eth
od
olo
gy,
to
£8
,90
0,0
00
.
I re
ma
ine
d c
on
ce
rne
d a
bo
ut
the
va
lua
tio
n b
asis
an
d r
ais
ed
fu
rth
er
qu
eri
es w
ith
th
e
Co
un
cil’
s V
alu
er
an
d o
bta
ine
d m
y o
wn
ad
vic
e f
rom
a p
rofe
ssio
na
l va
luer
on
th
e
va
lua
tio
n b
asis
an
d a
ssum
ptio
ns.
We
ha
ve
ag
ree
d t
he
co
rre
ct va
lua
tio
n b
asis
an
d t
he
PF
I a
sse
t ha
s b
ee
n r
eva
lue
d t
o £
4,3
20
,00
0 a
t 31
Ma
rch
20
11
.
� �� ������ �&���� �� ��� ���� ��� � ���
Th
e C
ou
ncil
is r
ely
ing
on
tw
o e
xp
eri
en
ce
d in
teri
m
ap
po
intm
en
ts t
o f
ill k
ey s
en
ior
po
sitio
ns w
ith
in t
he f
ina
nce
tea
m u
ntil th
e e
nd
of
Ma
rch
20
11
. T
he
fin
an
ce
fu
nctio
n w
ill
be
re
-str
uctu
red
as p
art
of
the
Co
un
cil'
s s
erv
ice
re
vie
w
pro
gra
mm
e -
ris
k o
f n
o e
xp
eri
en
ce
d s
taff
be
ing
in
pla
ce
to
pro
du
ce
th
e 2
01
0/1
1 a
cco
un
ts.
In S
ep
tem
be
r 2
01
0 t
he
Co
un
cil
trie
d b
ut
wa
s u
nsu
cce
ssfu
l in
its
att
em
pts
re
cru
it s
taff
to a
dd
ress th
e c
ap
acity issu
e w
ith
in th
e F
ina
nce
de
pa
rtm
en
t. A
s a
re
su
lt o
f th
is t
he
Co
un
cil
ma
de
tw
o in
teri
m a
pp
oin
tme
nts
an
d t
hese
ha
ve
re
ma
ine
d in
pla
ce
du
rin
g t
he
pro
du
ctio
n o
f th
e 2
01
0/1
1 a
cco
un
ts a
nd
th
e a
ud
it o
f th
em
. A
dd
itio
na
l sup
po
rt h
as a
lso
be
en
pro
vid
ed
by e
xte
rna
l co
nsu
lta
nts
on
are
as s
uch
as t
he
IF
RS
re
-sta
tem
en
t
(le
ase
s)
an
d t
he
PF
I M
od
el. A
s a
re
su
lt,
the
Co
un
cil
wa
s a
ble
to
pre
pa
re its
acco
un
ts
by t
he
30
Ju
ne
de
ad
line
.
Th
e C
ou
ncil
Fin
an
ce
dep
art
me
nt
is c
urr
en
tly b
ein
g r
e-s
tru
ctu
red
. A
ne
w H
ea
d o
f
Co
rpo
rate
Re
so
urc
es is n
ow
in
pla
ce a
nd
th
e C
ou
ncil
is in
the
pro
ce
ss o
f tr
yin
g t
o f
ill
the
Fin
an
cia
l S
erv
ice
s M
an
ag
er’
s p
ost.
Th
is s
hou
ld h
elp
re
du
ce
th
e C
ou
ncil’
s r
elia
nce
on
in
teri
m /
exte
rna
l co
nsu
lta
ncy s
upp
ort
.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
'
� ������� � ��
�� �� �
Ho
we
ve
r, I
co
nsid
er
tha
t ca
pa
city a
nd
kn
ow
led
ge
with
in F
ina
nce
ca
n a
lso
be
bu
ilt
thro
ug
h F
ina
nce
sta
ff u
sin
g lo
cal, r
eg
ion
al a
nd
na
tio
na
l co
nta
cts
to
assis
t w
ith
so
me
of
the
mo
re c
om
ple
x a
cco
un
tin
g issu
es.
Th
is m
ay h
ave
he
lpe
d m
inim
ise
err
ors
in
th
e
20
10
/11
acco
un
ts s
uch
as t
he
va
lua
tio
n b
asis
of h
eri
tag
e a
sse
ts,
co
rrect id
en
tifica
tion
of
reva
lua
tio
n lo
sse
s a
nd
de
pre
cia
tio
n o
f co
mp
on
en
tise
d a
sse
ts.
������� ��� �� E
sta
blis
h s
yste
ms t
o m
on
ito
r a
ctu
al lif
ecycle
exp
en
ditu
re o
n th
e P
FI
asset
an
d t
he
tim
ing
of
sp
en
d t
o e
na
ble
accu
rate
fin
an
cia
l re
po
rtin
g.
If w
ork
s d
o
no
t m
ee
t th
e d
efin
itio
n o
f ca
pita
l e
xpe
nd
itu
re,
they s
ho
uld
no
t b
e c
ap
ita
lise
d.
� Fin
an
ce
sta
ff s
ho
uld
use lo
ca
l, r
eg
ion
al a
nd
na
tio
na
l co
nta
cts
as a
so
und
ing
bo
ard
on
so
me
of
the
mo
re c
om
ple
x a
cco
untin
g issue
s. T
his
will
help
bu
ild c
ap
acity a
nd
kn
ow
led
ge
with
in F
ina
nce
an
d m
ay h
ave
he
lpe
d m
inim
ise
err
ors
in
th
e a
cco
un
ts.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
(
Th
e w
ea
kn
ess is o
nly
th
ose
I id
en
tifie
d d
uri
ng
the
co
urs
e o
f th
e a
ud
it t
ha
t a
re r
ele
va
nt
to p
rep
ari
ng
th
e f
ina
ncia
l sta
tem
en
ts. I
am
no
t e
xp
ressin
g a
n
op
inio
n o
n th
e o
ve
rall
eff
ective
ne
ss o
f in
tern
al co
ntr
ol.
) ��� � ��� ��� &��� ���" �� ��� �# ��� ���
* ������� ���� �
�� ����� �����+# ����� ��
Inte
rna
l A
ud
it’s
an
nu
al re
vie
w o
f th
e a
cco
un
ts
pa
ya
ble
syste
m in
mid
Octo
be
r 2
01
0 id
en
tifie
d a
pro
ble
m w
ith
th
e c
on
tro
l o
ve
r th
e r
e-
au
tho
risa
tion
of
invo
ice
s.
Th
e r
eg
iste
red
in
vo
ice
au
to-c
lea
rin
g p
roce
ss,
wh
ere
by in
vo
ice
s w
hic
h d
iffe
r to
th
eir p
urc
ha
se
ord
er
va
lue
be
yo
nd
a s
pe
cific
tole
ran
ce
le
ve
l
mu
st
be
re
-au
tho
rise
d b
y t
he
bu
dg
et
ho
lde
r,
wa
s b
ein
g b
yp
asse
d b
y a
n A
cco
un
tin
g C
leri
ca
l
Off
ice
r w
ho
wa
s m
an
ua
lly c
lea
rin
g s
uch
invo
ice
s f
or
pa
ym
en
t.
Invo
ice
s w
ith
a v
alu
e s
ign
ific
an
tly h
igh
er
tha
n t
ha
t o
f
the
go
od
s /
se
rvic
es o
rde
red
, co
uld
be
pa
id f
or
with
ou
t b
ein
g c
he
cke
d fo
r re
aso
na
ble
ne
ss.
Th
e c
on
tro
l w
as r
ein
sta
ted
by t
he
en
d o
f
Octo
be
r 2
01
0 s
o t
ha
t p
rescri
be
d in
vo
ice
au
tho
risa
tion
pro
ce
ss w
as f
ollo
we
d.
In D
ece
mb
er
20
10
a s
yste
m r
ep
ort
wa
s
de
ve
lop
ed
to
id
en
tify
pa
ym
en
ts w
hic
h h
ave
a v
ari
an
ce
be
twe
en
th
e P
urc
ha
se
Ord
er
va
lue
an
d t
he
pa
id in
vo
ice
va
lue
. T
his
is
no
w p
rod
uce
d o
n a
mo
nth
ly b
asis
. A
ll
pa
ym
en
ts in
th
e r
ep
ort
are
re
vie
we
d f
or
rea
so
na
ble
ne
ss a
nd
whe
re a
pp
rop
ria
te
ch
ecks a
re m
ad
e w
ith
ord
eri
ng
de
pa
rtm
en
t
tha
t p
aym
en
ts a
re c
orr
ect.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
, I
co
nsid
er
asp
ects
of
you
r a
cco
un
ting
pra
ctices, a
cco
un
tin
g p
olic
ies,
acco
un
tin
g e
stim
ate
s a
nd
fin
an
cia
l sta
tem
en
ts d
isclo
su
res.
Th
ese
are
th
e issu
es I
wa
nt
to r
ais
e w
ith
yo
u.
� ����
�� �� ���� ��� �����
�- .�# ��� � �� � �&� �
I fo
un
d t
ha
t th
e E
xp
lan
ato
ry F
ore
wo
rd t
o t
he
acco
un
ts:
D
id n
ot
inclu
de
an
exp
lan
atio
n o
f th
e im
pa
ct
of
the
cu
rre
nt
eco
no
mic
clim
ate
on
th
e a
uth
ori
ty a
nd
th
e
se
rvic
es it
pro
vid
es o
r co
mm
en
t o
n t
he
pri
or
pe
rio
d
ad
justm
en
t fo
r th
e P
FI
sch
em
e;
S
tate
s t
he
ne
t p
en
sio
n lia
bili
ty h
as r
ed
uce
d f
rom
£2
1,2
00
,00
0 t
o £
15
,90
0,0
00
du
rin
g 2
01
0/1
1 a
s a
resu
lt o
f th
e c
ha
ng
e f
rom
RP
I to
CP
I.
Th
e E
xp
lan
ato
ry F
ore
wo
rd h
as b
een
up
da
ted
to e
nsu
re f
ull
co
mp
lian
ce
with
th
e C
od
e.
Th
is h
as in
clu
de
d c
om
me
nta
ry o
f th
e im
pa
ct
of
the
cu
rre
nt
eco
no
mic
clim
ate
on
th
e a
uth
ori
ty
an
d t
he
se
rvic
es it
pro
vid
es a
nd
on
th
e P
PA
for
the
PF
I sch
em
e.
It h
as a
lso
be
en
up
da
ted
to
sh
ow
th
at
of
the
£5
,30
0,0
00
ne
t p
ensio
n lia
bili
ty r
ed
uctio
n o
nly
£3
,77
0,0
00
is a
s a
resu
lt o
f
the
ch
an
ge
fro
m R
PI
to C
PI.
Th
is is c
on
sis
ten
t w
ith
th
e e
xce
ptio
na
l ite
m d
isclo
se
d in
th
e
CIE
S.
� �� ���#� ���&����� �� �� ��� ��# ��� ��A
nu
mb
er
of
dis
clo
su
re issu
es w
ere
id
en
tifie
d
inclu
din
g:
Th
e C
ou
ncil
ha
s a
dd
ed
th
e m
issin
g in
form
atio
n a
nd
up
da
ted
no
tes a
s r
equ
ire
d in
clu
din
g r
e-
wri
tin
g t
he
se
gm
en
tal a
na
lysis
no
te.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
� ����
�� �� ���� ��� �����
n
o c
om
pa
rative
s in
th
e n
ote
s t
o s
up
po
rt t
he
1 A
pri
l
20
09
ba
lan
ce
sh
ee
t;
n
o n
arr
ative
to
de
scri
be
th
e r
ea
so
n f
or
ho
ldin
g
ea
rma
rke
d r
ese
rve
s;
fu
rth
er
info
rma
tio
n r
eq
uir
ed
in
re
sp
ect
of
asse
ts
he
ld f
or
sa
le;
se
gm
en
tal a
na
lysis
no
t on
th
e c
orr
ect b
asis
;
le
ase
s n
ote
s n
ee
d t
o s
ho
w m
inim
um
le
ase
pa
ym
en
ts;
R
efe
ren
ce
s to
ou
t o
f d
ate
te
rmin
olo
gy,
sta
nd
ard
s o
r
gu
ida
nce
e.g
. fixe
d a
sse
ts r
ath
er
tha
n P
PE
, F
RS
17
rath
er
tha
n I
AS
19
.
� �� �� ��� ���#� ���� ����� �� �� � �/�� ���� �
Th
ere
we
re s
eve
ral a
rea
s w
he
re t
he
Co
un
cil’
s
inte
rpre
tation
an
d a
pp
lica
tio
n o
f th
e C
od
e w
as
inco
rre
ct.
The
se
in
clu
ded
:
va
luin
g h
eri
tag
e a
sse
ts (
pa
rt o
f th
e c
om
mu
nity
asse
ts)
at in
su
ran
ce
va
lue
ra
the
r th
an
his
tori
c c
ost;
co
mp
on
en
tisa
tio
n o
f P
rop
ert
y P
lan
t a
nd
Eq
uip
me
nt
(PP
E)
asse
ts;
in
co
rre
ctly c
lassifyin
g r
eva
lua
tio
n losse
s a
s
imp
air
me
nt
losse
s.
My w
ork
id
en
tifie
d t
ha
t in
th
e a
rea
of
no
n c
urr
ent
asse
ts t
ha
t th
ere
we
re a
nu
mb
er
of
are
as
wh
ere
th
e C
ou
ncil’
s in
terp
reta
tio
n a
nd
ap
plic
ation
of
the
Co
de
wa
s in
co
rre
ct.
I h
ave
ou
tlin
ed
the
issu
es b
elo
w.
He
rita
ge
asse
ts,
with
in C
om
mu
nity a
sse
ts,
we
re r
eva
lue
d a
nd
in
clu
de
d in
th
e 2
01
0/1
1
acco
un
ts a
t th
eir
in
su
rance
va
lue
. U
nfo
rtu
na
tely
, th
is t
rea
tme
nt
is n
ot
allo
we
d u
nd
er
the
Co
de
un
til 20
11
/12
. T
his
le
d t
o C
om
mu
nity a
sse
ts b
ein
g o
ve
rsta
ted
by £
1,3
15
,00
0,
a
ma
teri
al e
rro
r.
Th
ere
we
re s
eve
ral is
su
es w
ith
th
e c
om
po
ne
ntisa
tio
n o
f P
PE
asse
ts:
T
he
ap
pro
ach
to
co
mp
on
en
tisin
g a
sse
ts w
as b
ase
d o
n a
ssessin
g c
om
po
ne
nt
live
s u
sin
g
a s
tan
da
rd o
f a
ne
w b
uild
ing
with
a life
of
50
ye
ars
. W
he
re t
he
va
lue
r a
sse
sse
d a
bu
ildin
g life
to
be
le
ss t
ha
n 5
0 y
ea
rs,
fin
an
ce
sta
ff p
ro-r
ata
th
e e
xp
ecte
d life
of
a
co
mp
on
en
t a
cco
rdin
gly
. H
ow
eve
r, t
his
me
an
s th
e v
alu
er
is n
ot
pro
vid
ing
, fo
r a
n
ind
ivid
ua
l a
sse
t, a
n e
stim
ate
of
the
use
ful re
ma
inin
g life
of in
div
idu
al com
po
ne
nts
. A
s a
resu
lt t
he
ann
ua
l d
ep
recia
tio
n c
ha
rge f
or
co
mp
on
en
tise
d a
sse
ts is lik
ely
to
be
wro
ng
.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�
� ����
�� �� ���� ��� �����
T
he
th
ree
tri
gg
ers
fo
r com
po
ne
ntisa
tio
n a
re a
re
va
lua
tio
n,
enh
an
ce
me
nt
or
acq
uis
itio
n o
f
an
asse
t d
urin
g t
he
ye
ar.
Th
e f
ou
r a
sse
ts c
om
pon
en
tise
d w
ere
re
va
lue
d a
t 3
1 M
arc
h
20
11
(tr
igg
er
po
int)
bu
t th
e C
ou
ncil
wro
ng
ly a
pp
lied
co
mp
on
en
tisa
tio
n f
rom
1 A
pri
l 2
01
0
an
d t
hu
s o
ve
rsta
ted
de
pre
ca
tio
n f
or
the
ye
ar.
Ho
we
ve
r, I
als
o id
en
tifie
d e
xp
en
ditu
re o
n
Ph
oe
nix
Co
urt
in
20
10
/11
wh
ich
me
an
t it s
ho
uld
ha
ve
be
en
co
mp
on
en
tise
d in
20
10
/11
.
Ba
se
d o
n t
his
, co
mp
on
en
tise
d d
ep
recia
tio
n o
f £
67
7,0
00
ha
s b
ee
n r
em
ove
d f
rom
th
e
20
10
/11
acco
un
ts.
All
do
wn
wa
rd r
eva
lua
tio
ns w
ere
cla
ssifie
d b
y t
he C
ou
ncil
as im
pa
irm
en
t lo
sse
s.
Th
e C
od
e
req
uir
es t
ha
t b
efo
re c
on
sid
eri
ng
an
im
pa
irm
en
t lo
ss t
he
asse
ts c
arr
yin
g v
alu
e h
ad
to
be
bro
ug
ht
up
to
da
te.
Th
is v
alu
e s
ho
uld
be
co
mp
are
d a
ga
inst
the
re
co
ve
rab
le a
mo
un
t a
nd
on
ly
if t
he
ca
rryin
g v
alu
e is a
bo
ve
th
e r
eco
ve
rab
le a
mo
un
t is
th
ere
an
im
pa
irm
en
t lo
ss.
As a
re
su
lt
of
this
im
pa
irm
en
t lo
sse
s r
ed
uce
d t
o £
85
8,0
00
. T
his
ha
s n
o im
pa
ct
on
th
e p
rim
ary
sta
tem
en
ts b
ut
aff
ects
a n
um
be
r o
f d
isclo
su
re n
ote
s.
� � �# �� ��" � � ��� ��# ��� ��
Th
e C
ou
ncil’
s id
en
tifie
s o
ffic
er
an
d m
em
be
r re
late
d
pa
rty t
ran
sa
ctio
ns t
hro
ug
h c
om
ple
tio
n o
f a
ye
ar
en
d
retu
rn.
Th
e C
ou
ncil’
s a
cco
un
tin
g p
olic
y s
ets
a d
e
min
imis
le
ve
l o
f £
50
,00
0 o
n d
isclo
su
re o
f re
late
d p
art
y
tra
nsa
ctio
ns.
Alth
ou
gh
th
e a
cco
un
ting
po
licy s
pecifie
s o
nly
dis
clo
su
res o
ve
r £
50
,00
0 a
re in
clu
de
d in
th
e
acco
un
ts,
my r
evie
w o
f th
e r
ela
ted
pa
rty d
isclo
sure
s id
en
tified
a n
um
be
r th
at
we
re b
elo
w
this
. T
he
se
ad
ditio
na
l dis
clo
su
res w
ere
ma
de
be
ca
use
it
was c
on
sid
ere
d t
ha
t th
ere
wa
s lo
ca
l
inte
rest
e.g
. M
ari
tim
e F
estiva
l fo
r £
25
,09
0.
Ho
we
ve
r, it
do
es m
ea
n t
ha
t th
e C
ou
ncil
ha
s f
aile
d
to c
om
ply
with
its
ow
n a
cco
un
tin
g p
olic
y.
In f
act,
th
e C
od
e r
eq
uir
es r
ela
ted
pa
rty t
ran
sa
ctio
ns t
o b
e d
isclo
se
d w
here
th
ey a
re
co
nsid
ere
d to
be
ma
teri
al to
eith
er
the
Co
un
cil
or
the
re
late
d p
art
y.
Wh
ilst a
de
min
imis
le
ve
l
of
£5
0,0
00
ma
y b
e a
pp
rop
ria
te f
or
the
Co
un
cil
itse
lf it
like
ly to
be
to
o h
igh
wh
ere
th
e r
ela
ted
pa
rty is a
n in
div
idu
al. T
he
Co
un
cil
ha
s r
eco
nsid
ere
d its
dis
clo
su
res f
or
20
10
/11
an
d a
pa
ym
en
t o
f £
4,1
89
to
a c
ou
ncill
or
for
ren
tal o
f a
pro
pe
rty f
or
the
ho
me
less h
as n
ow
be
en
dis
clo
se
d.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�
� ����
�� �� ���� ��� �����
� �� ���� �+� ��# ��� �
With
in t
he
ag
ed
de
bt
listin
g f
or
be
ne
fits
de
bto
rs,
the
re
are
ap
pro
xim
ate
ly 2
50
in
vo
ice
s g
rea
ter
tha
n 3
ye
ars
old
with
a v
alu
e o
f £
15
1,0
00
.
Th
e £
15
1,0
00
of
be
ne
fits
de
bto
rs g
rea
ter
tha
n 3
ye
ars
old
are
all
fully
pro
vid
ed
fo
r in
th
e b
ad
de
bt
pro
vis
ion
. H
ow
eve
r, a
re
vie
w s
ho
uld
be
und
ert
ake
n o
n th
eir
cu
rre
nt sta
tus a
nd
if
a
rep
aym
en
t p
lan
is n
ot in
pla
ce
, o
r th
e d
eb
t is
no
t b
ein
g a
ctive
ly p
urs
ue
d,
co
nsid
era
tio
n
sh
ou
ld b
e g
ive
n t
o t
he
ir w
rite
off
.
� ��� .�� ����� ��� �� �
Th
e C
ou
ncil
is s
till
usin
g a
sp
rea
dshe
et
ba
se
d a
sse
t
reg
iste
r to
co
mp
ile t
he
acco
un
ts.
This
will
be
com
e
incre
asin
gly
difficu
lt to
ma
inta
in a
s t
he
in
form
atio
n
req
uir
em
en
ts o
f IF
RS
ba
se
d a
cco
un
ts in
cre
ase.
Th
e C
ou
ncil
reco
gn
ise
d th
e n
ee
d t
o p
urc
ha
se
a fix
ed
asse
t re
gis
ter
syste
m t
o r
ep
lace
its
sp
rea
dsh
ee
t a
nd
bo
ug
ht o
ne
du
rin
g 2
00
9/1
0.
Ho
we
ve
r, p
rob
lem
s in
bo
th 2
00
9/1
0 a
nd
20
10
/11
me
an
t th
e im
ple
me
nta
tio
n o
f th
e n
ew
syste
m w
as d
ela
ye
d.
������� ��� �� � R
evie
w t
he
ap
pro
ach
use
d t
o c
om
po
ne
ntisa
tio
n a
nd
en
su
re th
at
the
va
lue
r p
rovid
es a
n a
sse
ssm
en
t o
f th
e u
se
ful e
co
no
mic
life
of th
e in
div
idu
al
co
mp
on
en
ts f
or
ea
ch
asse
t th
at
ha
s to
be
co
mp
on
en
tise
d.
� Imp
rove
th
e u
nd
ers
tan
din
g o
f a
nd
app
lica
tio
n o
f th
e C
od
e r
eq
uir
em
en
ts w
ith
in t
he
Cou
ncil’
s F
ina
nce
de
pa
rtm
en
t.
� Re
vie
w t
he
de
min
imis
le
ve
l se
t fo
r d
isclo
sin
g r
ela
ted
pa
rty d
isclo
su
res a
nd
se
t it a
t a le
ve
l th
at
wo
uld
be
co
nsid
ere
d m
ate
ria
l fr
om
th
e v
iew
po
int
of
bo
th t
he
Co
un
cil
an
d a
re
late
d p
art
y,
wh
ich
ma
y w
ell
be
an
ind
ivid
ua
l. T
he
Co
un
cil
sho
uld
als
o r
evie
w its
in
form
atio
n s
ou
rce
s u
se
d t
o id
en
tify
rela
ted
pa
rty t
ran
sa
ctio
ns.
� Re
vie
w t
he
cu
rre
nt
sta
tus o
f b
en
efits
de
bto
rs g
rea
ter
tha
n 3
ye
ars
old
. W
he
re a
re
pa
ym
en
t p
lan
is n
ot
in p
lace
, o
r th
e d
eb
t is
no
t b
ein
g a
ctive
ly
pu
rsu
ed
, con
sid
era
tio
n s
ho
uld
be
giv
en
to
th
eir
wri
te o
ff.
% En
su
re t
ha
t th
e im
ple
me
nta
tio
n o
f a
ne
w a
sse
t re
gis
ter
is p
rog
resse
d.
En
su
re t
ha
t In
tern
al A
ud
it v
eri
fy t
ha
t th
e a
ud
ite
d c
losin
g b
ala
nce
s o
n t
he
old
asse
t re
gis
ter
ha
ve
be
en
accu
rate
ly t
ran
sfe
rre
d to
th
e n
ew
asse
t re
gis
ter.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�
0 �&"��* �� �# ��"�� ����� $�# ���� �
Th
e C
ou
ncil
de
cid
ed
to
ad
op
t a
ne
w P
FI
acco
untin
g m
od
el fo
r 2
01
0/1
1 a
nd
on
wa
rds.
I d
iscu
ssed
th
e m
od
el w
ith
th
e C
orp
ora
te D
ire
cto
r –
Re
so
urc
es
an
d T
ran
sfo
rma
tio
n a
nd
am
sa
tisfie
d t
ha
t it c
om
plie
s w
ith
th
e r
eq
uir
em
en
ts o
f th
e C
od
e.
I h
ave
dis
cu
sse
d t
he
PF
I a
sse
t va
lua
tio
n w
ith
th
e C
ou
ncil’
s in
-
ho
use
va
lue
r a
nd
with
fin
an
ce
sta
ff. I
ha
ve
als
o t
ake
n m
y o
wn
ad
vic
e fro
m a
pro
fessio
na
l va
lue
r a
s t
o w
he
the
r th
e v
alu
atio
n m
eth
od
olo
gy a
nd
assu
mp
tio
ns u
se
d a
re r
ea
so
na
ble
.
1 ���#� ����� �� ��� &����� ������ �
I h
ave
re
ce
ive
d le
tte
rs f
rom
lo
ca
l e
lecto
rs d
uri
ng
th
e y
ea
r ra
isin
g v
ari
ou
s q
ue
stio
ns a
bo
ut
fin
an
cia
l tr
an
sa
ction
s m
ad
e b
y t
he
Co
un
cil
in 2
01
0/1
1.
I h
ave
dis
cu
sse
d t
he
se
with
th
e C
hie
f E
xe
cu
tive
an
d t
he
Co
rpo
rate
Dir
ecto
r –
Re
so
urc
es a
nd
Tra
nsfo
rma
tio
n.
I h
ave
no
w r
ece
ive
d a
fo
rma
l o
bje
ctio
n t
o th
e
20
10
/11
acco
un
ts.
I w
ill th
ere
fore
ne
ed
to
co
nsid
er
this
ob
jectio
n b
ut
giv
en
th
e t
ime
sca
les in
vo
lve
d I
will
be
una
ble
to
issue
th
e a
ud
it c
losu
re c
ert
ific
ate
by 3
0 S
ep
tem
be
r 2
01
1.
Be
fore
I issue
my o
pin
ion
, a
ud
itin
g s
tan
da
rds r
eq
uir
e m
e t
o a
sk y
ou
an
d m
an
ag
em
en
t fo
r w
ritt
en
re
pre
se
nta
tio
ns a
bo
ut
yo
ur
fin
an
cia
l sta
tem
en
ts a
nd
go
ve
rna
nce
arr
an
ge
me
nts
.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�
I a
sse
ss y
ou
r a
rra
ng
em
en
ts t
o s
ecu
re e
co
no
my,
eff
icie
ncy a
nd
eff
ective
ne
ss in
yo
ur
use
of
reso
urc
es a
ga
inst tw
o c
rite
ria
sp
ecifie
d b
y t
he
Au
dit
Co
mm
issio
n.
My c
on
clu
sio
n o
n e
ach
of
the
tw
o a
rea
s is s
et
ou
t b
elo
w.
I in
ten
d t
o issu
e a
n u
nq
ua
lifie
d c
onclu
sio
n s
tating
th
at
the
Co
un
cil
ha
d p
rop
er
arr
an
ge
me
nts
to
se
cu
re e
co
nom
y,
eff
icie
ncy a
nd
eff
ective
ne
ss in
its
use
of
reso
urc
es.
I h
ave
un
de
rta
ke
n a
dd
itio
na
l w
ork
th
is y
ea
r to
co
nsid
er
tho
se
are
as o
f m
y c
on
clu
sio
n w
hic
h h
ave
be
en
qu
alif
ied
in
pre
vio
us y
ea
rs.
I a
m
sa
tisfie
d t
hat
the
Co
un
cil
no
w h
as p
rop
er
arr
an
ge
me
nts
in
pla
ce
in
re
sp
ect
of
str
ate
gic
asse
t m
ana
ge
me
nt
an
d w
ork
forc
e p
lan
nin
g.
� �� � � �
�� �� ��
��� ��� �# ���#� ���2� �� ��� ���� �� ��� ��� �
������ ��
�# ���� ����� ��� ��� �# ���#� ��� �
Fo
cu
s f
or
201
0/1
1:
Th
e o
rga
nis
atio
n h
as r
ob
ust
syste
ms a
nd
pro
cesse
s
to m
an
ag
e e
ffe
ctive
ly f
ina
ncia
l risks a
nd
op
po
rtu
nitie
s,
an
d t
o s
ecu
re a
sta
ble
fin
an
cia
l p
ositio
n t
ha
t e
nab
les it
to c
on
tin
ue
to
op
era
te f
or
the
fo
resee
ab
le f
utu
re.
Th
e C
ou
ncil
ha
s a
de
qu
ate
syste
ms a
nd
pro
ce
sse
s in
pla
ce
to
ma
na
ge
fin
an
cia
l ri
sks
eff
ective
ly,
an
d t
o s
ecu
re a
sta
ble
fin
an
cia
l p
ositio
n t
ha
t e
na
ble
s it
to c
on
tin
ue
to
op
era
te f
or
the
fo
rese
eab
le f
utu
re.
Th
e C
ou
ncil
pro
du
ce
d a
n u
pd
ate
d M
ed
ium
Te
rm F
ina
ncia
l S
tra
teg
y in
De
ce
mb
er
20
10
. T
his
hig
hlig
hte
d fu
nd
ing
ga
ps a
s a
re
su
lt o
f th
e G
ove
rnm
en
t’s C
om
pre
he
nsiv
e S
pe
nd
ing
Re
vie
w
an
d h
ow
th
ese
we
re t
o b
e a
dd
resse
d.
Th
e C
ou
ncil
ha
s p
lanne
d t
o m
ake
sig
nific
an
t sa
vin
gs
in 2
01
1/1
2.
It is a
lso p
lann
ing
to
use
£2
.85
m f
rom
re
se
rve
s t
o s
up
po
rt t
he
20
11
/12
bu
dg
et,
the
la
rge
st
be
ing
£1
.5m
fro
m t
he
‘C
ho
osin
g t
o C
ha
ng
e’ re
se
rve
wh
ich
will
be
use
d t
o fu
nd
red
un
da
ncie
s a
s p
art
of
the
sa
vin
gs p
rog
ram
me
.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�
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In 2
01
0/1
1 th
e C
ou
ncil
ha
s c
on
tin
ued
to
op
era
te w
ith
in b
ud
ge
t u
nd
ers
pen
din
g b
y £
0.5
4
mill
ion
as a
re
su
lt o
f va
ca
ncy m
an
ag
em
en
t, s
avin
gs in
th
e r
eve
nu
es a
nd
be
ne
fits
sh
are
d
se
rvic
e a
nd
an
ove
rall
red
uctio
n in
recyclin
g c
osts
. G
en
era
l F
un
d a
nd
ea
rma
rke
d r
ese
rve
s a
t
31
Ma
rch
20
11
we
re £
9.4
6 m
illio
n (
65
% o
f b
ud
ge
ted
ne
t e
xp
en
ditu
re f
or
20
11
/12
).
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ocu
s f
or
201
0/1
1:
Th
e o
rga
nis
atio
n is p
rio
ritisin
g its
re
so
urc
es w
ith
in
tig
hte
r b
ud
ge
ts,
for
exa
mp
le b
y a
ch
ievin
g c
ost
red
uctio
ns a
nd
by im
pro
vin
g e
ffic
iency a
nd
pro
du
ctivity.
Th
e C
ou
ncil’
s t
ran
sfo
rma
tio
n p
rog
ram
me
‘C
ho
osin
g t
o C
han
ge
’ is
desig
ne
d t
o im
pro
ve
go
ve
rna
nce
with
in t
he
Co
un
cil
an
d to
mo
de
rnis
e h
ow
it
do
es b
usin
ess.
Th
e C
ou
ncil
ha
s
ma
de
go
od
pro
gre
ss in
im
ple
me
ntin
g t
he
va
rio
us p
roje
cts
with
in t
his
pro
gra
mm
e d
uri
ng
20
10
/11
. T
he
Co
un
cil
ha
s u
nd
ert
ake
n a
se
rie
s o
f se
rvic
e r
evie
ws t
o c
ha
llen
ge
ho
w a
nd
wh
ere
it
is s
pe
nd
ing
its
mo
ne
y a
nd
wh
eth
er
this
ca
n b
e d
one
mo
re e
ffic
ien
tly.
Alth
ou
gh
the
se
re
vie
ws h
ave
be
en
ca
rrie
d o
ut
inte
rna
lly, e
xte
rna
l ch
alle
ng
e t
o t
he
pro
ce
ss h
as b
ee
n
pro
vid
ed
by a
no
the
r d
istr
ict
co
uncil
to e
nsu
re it
is r
igo
rou
s.
Sha
red
se
rvic
es h
ave
be
en
intr
od
uce
d in
20
10
/11
. D
esp
ite
ea
rly c
on
ce
rns a
bo
ut
pe
rfo
rma
nce
th
e r
eve
nu
es a
nd
be
ne
fits
sh
are
d s
erv
ice
is d
eliv
eri
ng
an
nu
al fin
an
cia
l sa
vin
gs.
Th
e in
tern
al a
ud
it s
ha
red
se
rvic
e is n
ot
exp
ecte
d t
o d
eliv
er
sa
vin
gs b
ut
sh
ou
ld p
rovid
e a
mo
re r
esili
en
t se
rvic
e g
oin
g f
orw
ard
.
� �" �$� ���&��� ������ � ��� � ������ �
Fo
cu
s f
or
201
0/1
1:
I is
su
ed
an
‘e
xce
pt
for’
VF
M C
on
clu
sio
n in
20
09
/10
wh
ich
hig
hlig
hte
d w
ea
kn
esse
s in
the
Co
un
cil’
s
arr
an
ge
me
nts
fo
r:
m
an
ag
ing
its
asse
ts e
ffe
ctive
ly t
o h
elp
de
live
r
str
ate
gic
pri
ori
tie
s a
nd
se
rvic
e n
ee
ds;
an
d
p
lan
nin
g,
org
an
isin
g a
nd
de
ve
lop
ing
its
wo
rkfo
rce
eff
ective
ly t
o s
up
po
rt t
he
ach
ieve
me
nt
of
its
str
ate
gic
pri
ori
tie
s.
In 2
00
9/1
0 I
re
po
rte
d m
y c
on
ce
rns a
bo
ut
the
Co
un
cil’
s a
pp
roa
ch
to
str
ate
gic
asse
t
ma
na
ge
me
nt.
Th
ere
wa
s n
o A
sse
t M
an
ag
em
en
t P
lan
(A
MP
) in
pla
ce
fo
r th
e f
ull
ye
ar
an
d
little
mo
nito
rin
g o
f h
ow
asse
ts w
ere
pe
rfo
rmin
g.
Ho
we
ve
r, a
n u
pd
ate
d A
MP
, a
pp
rove
d in
Ma
rch
20
11
, n
ow
de
mo
nstr
ate
s a
mo
re c
orp
ora
te a
pp
roa
ch
to a
sse
t m
an
ag
em
en
t w
ith
cle
ar
linka
ge
s b
etw
ee
n c
orp
ora
te t
he
me
s a
nd
asse
t de
ve
lop
me
nt
an
d m
ain
ten
an
ce
an
d t
he
de
ve
lop
me
nt
of
a p
erf
orm
an
ce
ma
na
ge
me
nt
fra
me
wo
rk.
Th
e a
nn
ua
l re
po
rt s
ho
win
g
pe
rfo
rma
nce
in
20
10
/11 a
ga
inst
the
ne
w p
erf
orm
an
ce
mo
nito
rin
g f
ram
ew
ork
co
nsid
ers
ho
w
asse
ts a
re p
erf
orm
ing
.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
%
� �� � � �
�� �� ��
I a
lso
re
po
rte
d m
y c
on
ce
rns a
bo
ut w
ork
forc
e p
lan
nin
g b
ecau
se
of
the
lack o
f a
cle
ar
pla
n t
o
ide
ntify
an
d a
dd
ress f
utu
re s
kill
s g
aps,
an
d t
o a
dd
ress h
igh
an
d in
cre
asin
g s
ickn
ess le
ve
ls.
Th
e u
pd
ate
d W
ork
forc
e S
tra
teg
y a
pp
rove
d in
Ma
rch
20
11
is c
lea
rer
on
cu
rre
nt
skill
s, skill
s
de
ve
lop
me
nt,
re
cru
itm
en
t n
ee
ds a
nd
ho
w t
he
se
are
go
ing
to
be
me
t e
.g.
inte
rim
ap
po
intm
en
ts,
ap
pre
ntice
sh
ips.
Sic
kn
ess a
bse
nce
fo
r 2
01
0/1
1 w
as 1
0.8
6 d
ays,
a r
ed
uctio
n
of
4.1
9 d
ays (
28
%)
on
th
e p
revio
us y
ea
r a
nd
is low
er
tha
n 2
00
8/0
9 le
ve
l. A
lth
ou
gh
th
is le
ve
l
is s
till
hig
he
r th
an
th
e C
ou
ncil
wa
nts
, it s
ho
ws s
ign
ific
an
t p
rogre
ss h
as b
ee
n m
ad
e d
uri
ng
20
10
/11
. T
his
ha
s la
rgely
be
en
th
rou
gh
ad
dre
ssin
g c
ase
s o
f lo
ng
te
rm s
ickn
ess a
bsen
ce
.
Th
e C
ou
ncil
ha
s w
ork
ed w
ith
an
oth
er
loca
l a
uth
ori
ty t
o r
evis
e its
sic
kn
ess a
bse
nce
polic
ies
an
d p
roce
dure
s a
nd
to
en
su
re t
he
y a
re c
on
sis
tently a
pp
lied
to
sta
ff.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
'
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I h
ave
au
dite
d t
he
accou
ntin
g s
tate
me
nts
of
Co
pe
lan
d B
oro
ug
h C
ou
ncil
for
the
ye
ar
en
de
d 3
1 M
arc
h 2
01
1 u
nd
er
the
Au
dit C
om
mis
sio
n A
ct
19
98.
Th
e
acco
un
tin
g s
tate
me
nts
co
mp
rise
th
e M
ove
me
nt
in R
ese
rve
s S
tate
me
nt,
th
e C
om
pre
he
nsiv
e I
nco
me
an
d E
xp
en
ditu
re S
tate
me
nt,
th
e B
ala
nce
Sh
ee
t,
the
Ca
sh
Flo
w S
tate
me
nt
an
d C
olle
ctio
n F
un
d a
nd
th
e r
ela
ted
no
tes.
Th
ese
acco
un
tin
g s
tate
me
nts
ha
ve
be
en
pre
pa
red
un
de
r th
e a
cco
un
tin
g p
olic
ies
se
t o
ut
in t
he
Sta
tem
en
t o
f A
cco
un
tin
g P
olic
ies.
Th
is r
ep
ort
is m
ad
e s
ole
ly t
o t
he
me
mb
ers
of
Co
pe
lan
d B
oro
ug
h C
ou
ncil
in a
cco
rda
nce
with
Pa
rt I
I o
f th
e A
ud
it C
om
mis
sio
n A
ct
199
8 a
nd
fo
r n
o o
the
r p
urp
ose
, a
s s
et
ou
t in
para
gra
ph
48
of
the
Sta
tem
en
t o
f R
esp
on
sib
ilitie
s o
f A
ud
ito
rs a
nd
Au
dite
d B
od
ies p
ub
lish
ed
by t
he
Au
dit C
om
mis
sio
n in
M
arc
h 2
01
0.
������� $� ������+�#��� ������ � ������+# ��� ��� �#���� �� �� ����� � A
s e
xp
lain
ed
mo
re f
ully
in
th
e S
tate
me
nt
of
the
Re
sp
on
sib
le F
ina
ncia
l O
ffic
er’
s R
espo
nsib
ilitie
s,
the
Re
sp
on
sib
le F
ina
ncia
l O
ffic
er
is r
esp
on
sib
le fo
r th
e
pre
pa
ratio
n o
f th
e A
uth
ori
ty’s
Sta
tem
en
t o
f A
cco
un
ts in
acco
rda
nce
with
pro
pe
r p
ractice
s a
s s
et
ou
t in
th
e C
IPF
A/L
AS
AA
C C
od
e o
f P
ractice
on
Loca
l A
uth
ori
ty A
cco
un
tin
g in
th
e U
nite
d K
ing
do
m.
My r
esp
on
sib
ility
is t
o a
ud
it th
e a
cco
un
tin
g s
tate
me
nts
in
acco
rda
nce
with
ap
plic
ab
le law
an
d I
nte
rna
tio
na
l S
tan
da
rds o
n A
ud
itin
g (
UK
an
d I
rela
nd
). T
ho
se
sta
nd
ard
s r
eq
uir
e m
e t
o c
om
ply
with
th
e A
ud
itin
g P
ractice
’s B
oa
rd’s
Eth
ica
l S
tan
da
rds f
or
Au
dito
rs.
! �������� ������ ���� ��� ��� �# �� �� ���� � A
n a
ud
it in
vo
lve
s o
bta
inin
g e
vid
en
ce
ab
ou
t th
e a
mo
un
ts a
nd
dis
clo
su
res in
th
e a
cco
un
tin
g s
tate
me
nts
su
ffic
ien
t to
giv
e r
ea
so
na
ble
assu
ran
ce
th
at th
e
acco
un
tin
g s
tate
me
nts
are
fre
e f
rom
ma
teri
al m
issta
tem
en
t, w
he
the
r ca
use
d b
y f
rau
d o
r e
rro
r. T
his
in
clu
de
s a
n a
ssessm
en
t o
f: w
he
the
r th
e a
cco
un
tin
g
po
licie
s a
re a
pp
rop
ria
te to
th
e A
uth
ori
ty’s
cir
cu
msta
nce
s a
nd h
ave
be
en
co
nsis
ten
tly a
pp
lied
an
d a
de
qu
ate
ly d
isclo
se
d;
the
re
aso
na
ble
ne
ss o
f sig
nific
an
t acco
un
tin
g e
stim
ate
s m
ad
e b
y t
he
Au
tho
rity
; a
nd
th
e o
ve
rall
pre
se
nta
tio
n o
f th
e a
ccou
ntin
g s
tate
me
nts
. I
rea
d a
ll th
e in
form
atio
n in
th
e
exp
lan
ato
ry f
ore
wo
rd t
o id
en
tify
ma
teri
al in
co
nsis
ten
cie
s w
ith
th
e a
ud
ite
d a
cco
un
tin
g s
tate
me
nts
. If
I b
eco
me
aw
are
of
an
y a
pp
are
nt
ma
teri
al
mis
sta
tem
en
ts o
r in
co
nsis
ten
cie
s I
co
nsid
er
the im
plic
atio
ns f
or
my r
ep
ort
.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
(
� �� � ��������� ��� �� ���� �
In m
y o
pin
ion
th
e a
cco
un
tin
g s
tate
me
nts
:
g
ive
a t
rue
an
d f
air
vie
w o
f th
e s
tate
of
Co
pe
lan
d B
oro
ug
h C
ou
ncil’
s a
ffa
irs a
s a
t 3
1 M
arc
h 2
01
1 a
nd
of
its inco
me
an
d e
xp
en
ditu
re f
or
the
ye
ar
the
n
en
de
d;
an
d
h
ave
be
en
pro
pe
rly p
rep
are
d in
acco
rda
nce
with
th
e C
IPF
A/L
AS
AA
C C
od
e o
f P
ractice
on
Lo
ca
l A
uth
ori
ty A
cco
un
tin
g in
th
e U
nite
d K
ing
do
m.
� �� � ����� � ���� � �
In m
y o
pin
ion
, th
e in
form
atio
n g
ive
n in
th
e e
xp
lan
ato
ry f
ore
wo
rd f
or
the
fin
an
cia
l ye
ar
for
wh
ich
th
e a
cco
un
tin
g s
tate
me
nts
are
pre
pa
red
is c
onsis
ten
t w
ith
th
e a
cco
un
tin
g s
tate
me
nts
.
* ��� � ��&�� ��� ��� �+ ��.����� �
I h
ave
no
thin
g t
o r
ep
ort
in
re
sp
ect
of th
e g
ove
rna
nce
sta
tem
en
t o
n w
hic
h I r
ep
ort
to
yo
u if,
in
my o
pin
ion
th
e g
ove
rna
nce
sta
tem
en
t d
oe
s n
ot
reflect
co
mp
lian
ce
with
‘D
eliv
eri
ng
Go
od
Go
ve
rna
nce
in
Lo
ca
l G
ove
rnm
en
t: a
Fra
me
wo
rk’ p
ub
lish
ed
by C
IPF
A/S
OL
AC
E in
Ju
ne
20
07
.
� ��� � �� �5 � ������+�#��� ��
Th
e A
uth
ori
ty is r
esp
on
sib
le f
or
pu
ttin
g in
pla
ce
pro
pe
r a
rra
ng
em
en
ts t
o s
ecu
re e
co
nom
y,
eff
icie
ncy a
nd
eff
ective
ne
ss in
its
use
of
resou
rce
s,
to e
nsu
re
pro
pe
r ste
wa
rdsh
ip a
nd
go
ve
rna
nce
, a
nd
to
re
vie
w r
eg
ula
rly t
he
ad
eq
ua
cy a
nd
eff
ective
ne
ss o
f th
ese
arr
an
gem
en
ts.
� ���� � 5 � ������+�#��� ��
I a
m r
eq
uir
ed
un
de
r S
ectio
n 5
of
the
Au
dit C
om
mis
sio
n A
ct 19
98
to
sa
tisfy
myse
lf t
ha
t th
e A
uth
ori
ty h
as m
ad
e p
rop
er
arr
an
ge
me
nts
fo
r se
cu
rin
g
eco
no
my,
eff
icie
ncy a
nd
eff
ective
ne
ss in
its
use
of
reso
urc
es. T
he
Co
de
of
Au
dit P
ractice
issu
ed
by t
he
Au
dit C
om
mis
sio
n r
eq
uir
es m
e t
o r
ep
ort
to
yo
u
my c
on
clu
sio
n r
ela
tin
g to
pro
pe
r a
rra
ng
em
en
ts,
ha
vin
g r
eg
ard
to
re
leva
nt
cri
teri
a s
pecifie
d b
y t
he A
ud
it C
om
mis
sio
n.
I re
po
rt if
sig
nific
an
t m
atte
rs h
ave
co
me
to
my a
tte
ntio
n w
hic
h p
reve
nt
me
fro
m c
on
clu
din
g t
ha
t th
e A
uth
ori
ty h
as p
ut
in p
lace
pro
pe
r a
rra
ng
em
en
ts f
or
se
cu
rin
g e
co
no
my,
eff
icie
ncy a
nd
eff
ective
ne
ss in
its
use
of re
so
urc
es.
I a
m n
ot
req
uir
ed
to
co
nsid
er,
no
r h
ave
I c
on
sid
ere
d,
wh
eth
er
all
asp
ects
of
the
A
uth
ori
ty’s
arr
an
ge
me
nts
fo
r se
cu
ring
eco
no
my,
eff
icie
ncy a
nd
eff
ective
ne
ss in
its
use
of
reso
urc
es a
re o
pe
ratin
g e
ffe
ctive
ly.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
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7 ��� ��� ���# ��� �
I h
ave
un
de
rta
ke
n m
y a
ud
it in
acco
rda
nce
with
the
Co
de
of
Au
dit P
ractice,
ha
vin
g r
eg
ard
to
th
e g
uid
an
ce
on
th
e s
pe
cifie
d c
rite
ria
, p
ublis
he
d b
y t
he
A
ud
it C
om
mis
sio
n in
Octo
be
r 2
01
0,
as t
o w
he
the
r th
e A
uth
ori
ty h
as p
rop
er
arr
an
ge
me
nts
fo
r:
se
cu
rin
g f
ina
ncia
l re
sili
en
ce
; a
nd
ch
alle
ng
ing h
ow
it
se
cu
res e
co
no
my,
eff
icie
ncy a
nd
eff
ective
ne
ss.
Th
e A
ud
it C
om
mis
sio
n h
as d
ete
rmin
ed
th
ese
tw
o c
rite
ria
as t
ho
se
ne
ce
ssa
ry f
or
me
to
co
nsid
er
un
de
r th
e C
od
e o
f A
ud
it P
ractice
in s
atisfy
ing
myse
lf
wh
eth
er
the
Au
tho
rity
pu
t in
pla
ce
pro
pe
r a
rra
ng
em
en
ts f
or
se
cu
rin
g e
con
om
y,
eff
icie
ncy a
nd
eff
ective
ne
ss in
its
use
of re
so
urc
es f
or
the
ye
ar
en
de
d
31
Ma
rch
20
11
. I
pla
nn
ed
my w
ork
in
acco
rda
nce
with
th
e C
od
e o
f A
ud
it P
ractice.
Ba
se
d o
n m
y r
isk a
sse
ssm
en
t, I
un
de
rto
ok s
uch
wo
rk a
s I
co
nsid
ere
d n
ece
ssary
to
fo
rm a
vie
w o
n w
he
the
r, in
all
sig
nific
an
t re
sp
ects
, th
e A
uth
ori
ty h
ad
pu
t in
pla
ce
pro
per
arr
an
ge
me
nts
to
se
cu
re e
co
no
my,
eff
icie
ncy a
nd
eff
ective
ne
ss
in its
use
of re
so
urc
es.
� ��# ��� �
On
th
e b
asis
of
my w
ork
, h
avin
g r
eg
ard
to
th
e g
uid
an
ce
on t
he
sp
ecifie
d c
rite
ria
pub
lish
ed
by th
e A
ud
it C
om
mis
sio
n in
Octo
be
r 2
01
0,
I a
m s
atisfie
d t
ha
t,
in a
ll sig
nific
an
t re
sp
ects
, C
op
ela
nd
Bo
rou
gh
Co
un
cil
pu
t in
pla
ce
pro
pe
r a
rra
ng
em
en
ts t
o s
ecu
re e
co
no
my,
eff
icie
ncy a
nd
eff
ective
ne
ss in
its
use
of
reso
urc
es f
or
the
ye
ar
en
din
g 3
1 M
arc
h 2
01
1.
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Th
e a
ud
it c
an
no
t b
e f
orm
ally
co
nclu
de
d a
nd
an
au
dit c
ert
ific
ate
issu
ed
un
til I
ha
ve
co
mp
lete
d m
y c
on
sid
era
tio
n o
f m
att
ers
bro
ug
ht
to m
y a
tte
ntio
n b
y a
lo
ca
l a
uth
ori
ty e
lecto
r. I
am
sa
tisfie
d t
ha
t th
ese
ma
tte
rs d
o n
ot
ha
ve
a m
ate
ria
l e
ffe
ct o
n t
he
fin
ancia
l sta
tem
en
ts o
r a
sig
nific
an
t im
pa
ct
on
my v
alu
e f
or
mo
ne
y c
on
clu
sio
n.
Ka
ren
Mu
rra
y
Se
pte
mb
er
20
11
O
ffic
er
of
the
Au
dit C
om
mis
sio
n
Au
dit C
om
mis
sio
n
2n
d F
loo
r A
sp
ina
ll H
ou
se
A
sp
ina
ll C
lose
M
idd
leb
roo
k
Bo
lto
n
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Ba
lan
ce
sh
ee
t – C
om
mu
nity
asse
ts
Ba
lan
ce
Sh
ee
t –
Re
va
lua
tio
n
rese
rve
He
rita
ge
asse
ts w
ith
in C
om
mu
nity a
sse
ts
we
re in
clu
de
d w
ith
th
e b
ala
nce
sh
ee
t a
t
insu
ran
ce
va
lue
. T
he
Co
de
re
qu
ire
s
Co
mm
un
ity a
sse
ts t
o b
e v
alu
e a
t h
isto
ric
co
st.
1
,31
5,0
00
1,3
15
,00
0
0 �� � $� �# � � �
CIE
S –
va
rio
us s
erv
ice
lin
es
Ba
lan
ce
sh
ee
t –
La
nd
and
bu
ildin
gs
Th
is r
ela
tes to
th
e r
em
ova
l o
f
co
mp
on
en
tise
d d
ep
recia
tio
n w
hic
h w
as n
ot
req
uir
ed
fo
r 2
01
0/1
1 a
s th
e t
rig
ge
r fo
r
co
mp
on
en
tisa
tio
n w
as r
eva
lua
tio
ns a
t 3
1
Ma
rch
20
11
.
6
77
,00
0
67
7,0
00
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l g
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port
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va
rio
us s
erv
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lin
es
Ba
lan
ce
sh
ee
t –
La
nd
and
bu
ildin
gs
Th
is a
me
nd
me
nt
is t
he
re
su
lt o
f th
e c
ha
ng
e
to t
he
re
va
lua
tio
n o
f th
e P
FI
asse
t.
42
0,0
00
4
20
,00
0
CIE
S –
Ce
ntr
al se
rvic
es
CIE
S –
Cu
ltu
ral, P
lan
nin
g a
nd
En
viro
nm
en
t
CIE
S –
No
n d
istr
ibu
ted
co
sts
Imp
air
me
nt
of
su
rplu
s a
sse
ts a
nd
asse
ts
he
ld f
or
sa
le s
ho
uld
be
ch
arg
ed
ag
ain
st
no
n
dis
trib
ute
d c
osts
.
79
0,0
00
29
0,0
00
50
0,0
00
Ba
lan
ce
sh
ee
t –
su
rplu
s a
sse
t
ad
ditio
ns
Ba
lan
ce
sh
ee
t –
la
nd
and
bu
ildin
gs a
dd
itio
ns
A p
rop
ert
y (
Lo
nsd
ale
Ho
use
) w
as s
ho
wn
as
an
op
era
tio
na
l la
nd
an
d b
uild
ing
s a
dd
itio
n
bu
t it w
ou
ld n
ot
be
use
d to
de
live
r serv
ice
s.
Th
ere
fore
, sh
ou
ld h
ave
be
en
dis
clo
se
d a
s a
su
rplu
s a
sse
t a
dd
itio
n.
29
0,0
00
2
90
,00
0
CIE
S –
Cu
ltu
ral, P
lan
nin
g a
nd
En
viro
nm
en
t
CIE
S –
(S
urp
lus)/
De
ficit o
n
reva
lua
tio
n o
f n
on
cu
rren
t
asse
ts
Ba
lan
ce
Sh
ee
t –
Re
va
lua
tio
n
Re
se
rve
Ba
lan
ce
Sh
ee
t –
CA
A
Th
e C
rem
ato
riu
m w
as r
e-v
alu
ed
up
wa
rds b
y
£3
30
,00
0 o
n 3
1 M
arc
h 2
01
1.
Ho
we
ve
r,
exp
en
ditu
re o
n it
of
£1
82,0
00
du
rin
g
20
10
/11
wa
s s
imp
ly c
ha
rge
d a
s a
n
imp
air
me
nt
loss r
ath
er
tha
n b
ein
g a
dd
ed
to
the
ca
rryin
g v
alu
e.
18
2,0
00
18
2,0
00
18
2,0
00
18
2,0
00
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re
port
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S –
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ltu
ral,
En
vir
on
me
nta
l P
lan
nin
g a
nd
Re
gu
lato
ry in
co
me
CIE
S –
Cu
ltu
ral,
En
vir
on
me
nta
l, P
lan
nin
g a
nd
Re
gu
lato
ry e
xp
en
ditu
re
Ba
lan
ce
Sh
ee
t -
Cre
dito
rs –
oth
er
en
tities
Ba
lan
ce
Sh
ee
t –
ca
sh
an
d
ca
sh
eq
uiv
ale
nts
.
Th
e a
cco
un
ts in
clu
de in
co
me
an
d
exp
en
ditu
re r
ela
tin
g t
o t
he
Co
pe
lan
d
Co
mm
un
ity F
un
d w
hic
h is a
se
pa
rate
en
tity
.
Th
ere
is a
lso
a c
red
ito
r in
th
e a
cco
un
ts.
Th
ese
tra
nsa
ctio
ns d
o n
ot
rela
te t
o th
e
Co
un
cil
an
d s
ho
uld
be
rem
ove
d f
rom
th
e
acco
un
ts.
98
,00
0
98
,00
0
49
,00
0
49
,00
0
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Ba
lan
ce
sh
ee
t –
PP
E –
1 A
pri
l 2
00
9
Ba
lan
ce
sh
ee
t –
Re
va
lua
tio
n
rese
rve
at
1 A
pri
l 2
00
9
Ba
lan
ce
sh
ee
t –
CA
A a
t 1
Ap
ril
20
09
CIE
S –
Cu
ltu
ral, E
nvir
on
me
nta
l a
nd
pla
nn
ing
se
rvic
es 2
00
9/1
0
Ba
lan
ce
sh
ee
t –
PP
E –
31
Ma
rch
20
10
Ba
lan
ce
sh
ee
t –
Re
va
lua
tio
n
rese
rve
at
31
Ma
rch
20
10
Tw
o a
sse
ts w
ere
re
cla
ssifie
d f
rom
Inve
stm
en
t P
rop
ert
ies to
PP
E a
t 1
Ap
ril
20
09
du
e t
o th
e I
FR
S r
esta
tem
en
t.
Th
ese
asse
ts w
ere
re
-va
lue
d t
o e
nsure
the
co
rre
ct
va
lua
tio
n b
asis
with
on
e
asse
t in
cre
asin
g b
y £
26
,00
0 a
nd
th
e
oth
er
asse
t d
ecre
asin
g b
y £
11
7,0
00
.
Th
e C
ou
ncil
ha
s in
co
rrectly t
he
se
ch
an
ge
s a
s o
ccu
rrin
g in
20
09
/10
an
d
no
t a
t 1
Ap
ril 2
00
9.
1
17
,00
0
26
,00
0
11
7,0
00
11
7,0
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,00
0
26
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0
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cin
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me
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d e
xp
en
ditu
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Gro
ss
exp
en
ditu
re
CIE
S -
Fin
an
cin
g a
nd
inve
stm
en
t
inco
me
an
d e
xp
en
ditu
re -
Gro
ss
inco
me
Gro
ss I
ncom
e a
nd
exp
en
ditu
re r
ela
tin
g
to t
rad
ing
ope
ratio
ns h
ad n
ot
be
en
inclu
de
d w
ith
in t
he
20
09/1
0
co
mp
ara
tors
.
50
6,0
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5
06
,00
0
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Ad
justm
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ts t
o n
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su
rplu
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r d
eficit o
n t
he
pro
vis
ion
of se
rvic
es f
or
no
n c
ash
move
ments
Ad
justm
en
ts f
or
NN
DR
de
bto
rs (
£1
22
,00
0)
an
d C
ou
ncil
Ta
x
de
bto
rs (
£23
5,0
00
) re
mo
ve
d a
s s
ho
uld
be
sh
ow
n in
fin
an
cin
g
activitie
s.
The
ca
rryin
g v
alu
e o
f n
on
cu
rre
nt
assets
of
£1
40
,00
0
rela
tin
g t
o t
he
bo
aty
ard
re
mo
ve
d a
s s
ho
uld
be
sh
ow
n in
th
e n
ext
line
.
Ad
justm
en
ts f
or
ite
ms inclu
de
d in
the
ne
t
su
rplu
s o
r de
ficit o
n t
he
pro
vis
ion
of
se
rvic
es t
hat
are
in
ve
stin
g a
nd
fin
ancin
g
activitie
s
Th
is a
dju
stm
en
t in
clu
de
s t
he
£1
40
,00
0 in
re
sp
ect
of
the
bo
aty
ard
loa
n a
nd
a fu
rth
er
£2
3,0
00
re
latin
g to
fix
ed
asset
sa
les.
16
3,0
00
(69
3,0
00
) In
ve
stin
g a
ctivitie
s
Th
is s
ho
uld
ha
ve
in
clu
de
d £
41
9,0
00 o
f ca
pita
l g
ran
ts a
nd
£2
57
,00
0 o
f V
AT
sh
ari
ng
re
ce
ipts
ori
gin
ally
sh
ow
n in
fin
an
cin
g
activitie
s.
A fu
rth
er
£1
6,0
00
of
sh
ort
te
rm d
eb
tors
als
o n
ee
de
d
inclu
de
d.
31
2,0
00
F
ina
ncin
g A
ctivitie
s
Th
e £
41
9,0
00
of
ca
pita
l g
ran
ts a
nd
£2
57
,00
0 o
f V
AT
sh
ari
ng
rece
ipts
ha
ve
be
en
re
mo
ve
d.
Th
e £
35
7,0
00
re
latin
g t
o N
ND
R a
nd
Co
un
cil
Ta
x d
eb
tors
ha
s b
ee
n a
dd
ed
in
plu
s £
13
,00
0 r
ela
tin
g to
the P
FI
liab
ility
mo
ve
me
nt.
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me
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ate
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en
ditu
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n d
om
estic r
ate
s -
pa
ym
en
ts t
o t
he
na
tio
na
l p
oo
l
Th
e lik
elih
oo
d o
f a
co
llectin
g a
de
bt o
f £
33
3,0
00
ha
s
red
uce
d.
Ho
we
ve
r, t
his
ha
d n
ot
be
en
ap
pro
pri
ate
ly r
efle
cte
d
with
in t
he
ba
d d
eb
t p
rovis
ion
.
19
9,0
00
1
99
,00
0
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�%
0 �� ��� ��� ������� ��� ��� � �� ��# ��� �� �����
� ����
�� �� ���� ��� �����
� ��� �� ��� $�� ������- .����� � �;��-!<
�# �� �� �� ��
No
te 1
5 o
n g
ran
t in
co
me
cre
dite
d t
o s
erv
ice
s (
oth
er
gra
nts
) w
ron
gly
exclu
de
d d
isa
ble
d f
acili
tie
s g
ran
ts a
nd
inclu
de
d s
ing
le p
ot
gra
nt in
err
or.
No
te 1
5 u
pd
ate
d t
o in
clu
de
dis
ab
led
fa
cili
tie
s g
ran
ts (
£3
32
,000
) a
nd
exclu
de
sin
gle
pot
gra
nt
(£5
54
,00
0)
fro
m o
the
r g
ran
ts c
red
ited
to
se
rvic
es.
Fig
ure
s a
lso
up
da
ted
fo
r 2
00
9/1
0
co
mp
ara
tors
(£
82
5,0
00
).
! ����� �# ��# ��� �
Th
e s
eg
me
nta
l a
na
lysis
(n
ote
17
) w
as n
ot
in
acco
rda
nce
with
th
e r
eq
uir
em
en
ts o
f th
e C
od
e.
Th
e o
rig
ina
l n
ote
17
wa
s r
eco
ncile
d b
ack d
ire
ctly t
o t
he
co
st o
f se
rvic
e lin
e in
th
e C
IES
as a
sta
rtin
g p
oin
t. H
ow
eve
r, t
he
re
co
ncili
atio
n it
me
an
t to
sta
rt w
ith
wh
at
wa
s r
ep
ort
ed
to
ma
na
ge
me
nt
/ m
em
be
rs d
uri
ng
th
e y
ea
r a
nd
th
en
sh
ow
ho
w t
his
re
co
ncile
s b
ack t
o th
e
CIE
S.
A r
evis
ed
se
gm
en
tal a
na
lysis
no
te h
as b
ee
n p
rod
uce
d.
7 �# ����� ��� �# �� �� �� ��
No
te 2
1 o
n P
rop
ert
y,
Pla
nt
an
d E
qu
ipm
en
t (P
PE
)
co
nta
ine
d a
nu
mb
er
of
err
ors
. T
he
se a
rose
du
e to
mis
-in
terp
reta
tio
n o
f th
e C
od
e.
Th
ese
in
clu
de
d
inco
rre
ctly c
lassifyin
g t
he m
ajo
rity
of
reva
lua
tio
ns
losse
s a
s im
pa
irm
en
t lo
sse
s a
nd
re
va
luin
g h
eri
tag
e
asse
ts w
ith
in C
om
mu
nity a
sse
ts a
t in
su
ran
ce
cost
rath
er
tha
n s
ho
win
g t
hem
at
his
tori
c v
alu
e.
No
te 2
1 o
n P
PE
up
da
ted
to
ad
dre
ss t
he
va
rio
us e
rro
rs id
en
tifie
d:
R
eva
lua
tio
n o
f £
1,3
15
,000
re
mo
ve
d f
rom
Co
mm
un
ity a
sse
ts;
Im
pa
irm
en
t lo
sse
s f
or
lan
d a
nd
bu
ildin
gs o
f £
4,7
83
,00
0 c
ha
rge
d a
ga
inst th
e C
IES
no
w
sh
ow
n a
s r
eva
lua
tio
n d
ecre
ase
s c
harg
ed
ag
ain
st th
e C
IES
;
Im
pa
irm
en
t lo
sse
s f
or
lan
d a
nd
bu
ildin
gs o
f £
55
,00
0 c
ha
rge
d a
ga
inst
the
re
va
lua
tio
n
rese
rve
no
w s
ho
wn
as r
eva
lua
tio
n d
ecre
ase
s r
eco
gn
ise
d in
th
e r
eva
lua
tio
n r
ese
rve
;
Im
pa
irm
en
t lo
ss o
f £
18
2,0
00
in
re
sp
ect
of
the
cre
ma
tori
um
re
mo
ve
d a
s t
his
re
late
d t
o
en
ha
nce
me
nts
in
ye
ar
no
t re
fle
cte
d in
up
da
ted
ca
rryin
g v
alu
e b
efo
re r
eva
lua
tio
n;
C
om
po
ne
ntise
d d
ep
recia
tio
n c
ha
rge f
or
20
10
/11 o
f £
67
7,0
00 f
or
lan
d a
nd b
uild
ing
s
rem
ove
d a
s c
on
ce
rns o
ve
r co
mp
on
en
tisa
tio
n m
eth
od
olo
gy u
se
d a
nd
ma
in r
ea
so
n f
or
co
mp
on
en
tisa
tio
n w
as r
eva
lua
tio
ns b
ut
the
se
only
occu
rre
d a
t 3
1 M
arc
h 2
01
1;
A
me
nd
ed
re
va
lua
tio
n o
f th
e P
FI
asse
t re
su
lte
d in
an
in
cre
ase
it
its v
alu
e b
y £
42
0,0
00
an
d
a r
ed
uctio
n in
th
e r
eva
lua
tio
n lo
ss c
ha
rge
d t
o t
he C
IES
;
P
urc
ha
se
of L
on
sd
ale
Ho
use
fo
r £
290
,00
0 s
ho
wn
in
co
rre
ctly a
s a
n a
dd
itio
n t
o o
pe
ratio
na
l
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�'
� ����
�� �� ���� ��� �����
Th
e c
lassific
atio
n o
f d
eb
tors
in
No
te 2
6 w
as in
corr
ect.
Th
e c
lassific
atio
n o
f C
red
ito
rs in
No
te 3
0 w
as
inco
rre
ct.
lan
d a
nd
bu
ildin
gs b
ut
wo
uld
no
t b
e u
se
d in
th
e d
eliv
ery
of
se
rvic
es.
Up
da
ted
to
sh
ow
as
a s
urp
lus a
sse
t a
dd
itio
n;
D
ep
recia
tion
ch
arg
ed
in y
ea
r in
cre
ase
d b
y £
13
,00
0 a
nd
am
ou
nt
wri
tte
n o
ut
incre
ased
by
the
sa
me
am
ou
nt
as t
he
se
did
no
t a
gre
e t
o t
he C
ou
ncil’
s a
sse
t re
gis
ter.
No
te 2
6 u
pd
ate
d t
o c
orr
ect
err
ors
in
th
e c
lassific
atio
n o
f C
ou
ncil
tax d
eb
tor
of
£1
10
,00
0.
No
te 3
0 u
pd
ate
d t
o c
orr
ect
err
ors
in
th
e c
lassific
atio
n o
f re
ceip
ts in
ad
van
ce
of
£4
81
,00
0 a
nd
Co
un
cil
tax c
red
ito
r o
f 78
,00
0.
� ���� ���# �����
No
te 2
4 o
n im
pa
irm
en
ts r
efe
rre
d t
o £
6,3
00
,00
0 o
f
imp
air
me
nt
losse
s b
ut
mu
ch
of
this
wa
s s
ho
wn
to b
e
reva
lua
tio
n lo
sse
s.
No
te 2
4 a
me
nd
ed
to
sho
w t
ha
t im
pa
irm
en
t lo
sse
s in
20
10
/11
we
re o
nly
£8
58
,00
0.
� ���� �#�� ��� � �/�� ����;�� <
No
te 2
5 -
Th
e o
pe
nin
g a
nd
clo
sin
g C
FR
do
no
t
reco
ncile
back t
o t
he
Cou
ncil’
s b
ala
nce
sh
ee
t.
Th
e C
ou
ncil
ha
s m
ad
e a
nu
mb
er
of
ad
justm
en
ts t
o its
op
en
ing
an
d c
losin
g C
FR
wh
ich
ha
s
resu
lte
d in
it n
o lo
ng
er
reco
ncili
ng
to t
he
Co
un
cil’
s o
pe
nin
g a
nd
clo
sin
g b
ala
nce
sh
eets
fo
r
20
10
/11
. T
he
Co
un
cil’
s o
pe
nin
g C
FR
sh
ou
ld b
e £
9,2
37
,00
0 a
nd
clo
sin
g C
FR
sh
ou
ld b
e
£8
,81
2,0
00
.
1 �����
No
te 3
5 o
n le
ase
s d
id n
ot
dis
clo
se
co
ntin
ge
nt
ren
ts
se
pa
rate
ly f
rom
fu
ture
min
imu
m le
ase
pa
ym
en
ts.
No
te 3
5 u
pd
ate
d t
o s
how
min
imu
m le
ase
pa
ym
en
ts a
nd
co
ntin
ge
nt
ren
ts.
�� ��� �#� �� ���� �
No
te 3
6 r
eco
ncile
s th
e b
ala
nce
sh
ee
t C
red
ito
rs to
th
e
am
ou
nts
dis
clo
se
d in t
he
fin
an
cia
l in
str
um
en
ts n
ote
.
Ho
we
ve
r, f
urt
he
r d
isclo
su
re r
eq
uir
ed
to
sh
ow
all
the
rele
va
nt
fig
ure
s in
th
e r
eco
ncili
atio
n.
Th
e r
eco
ncili
atio
n in
No
te 3
6 u
pd
ate
d t
o s
ho
w C
red
ito
rs o
f £2
,28
4,0
00
in t
he
fin
an
cia
l
instr
um
en
t n
ote
be
ing
ma
de
up
of:
C
red
ito
rs -
fin
an
cia
l lia
bili
tie
s a
t a
mo
rtis
ed
cost
be
ing
£1
,89
5,0
00
;
P
FI
an
d F
ina
nce
le
ase
lia
bili
ties b
ein
g £
38
9,0
00
.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�(
� ����
�� �� ���� ��� �����
Estim
ate
d im
pa
ct
of
ch
an
ge
s in
in
tere
st
rate
wro
ng
ly
ca
lcu
late
d.
No
te 3
7 u
pd
ate
d t
o s
how
th
at
if in
tere
st
rate
s f
ell
by 1
% t
he
n in
ve
stm
en
t in
co
me
wo
uld
incre
ase
by £
22
5,0
00
not
£1
80
,00
0. A
lso
if
inte
rest
rate
s incre
ase
d b
y 1
% t
he
n in
ve
stm
en
t
inco
me
wo
uld
in
cre
ase
by £
27
4,0
00
no
t th
e £
50
4,0
00
pre
vio
usly
dis
clo
sed
.
� ����# �&�� �� ����
No
te 4
0 o
n in
ve
stin
g a
ctivitie
s a
nd
no
te 4
1 o
n
fin
an
cin
g a
ctivitie
s r
eq
uir
ed
am
en
dm
en
t a
s c
ash
flo
w
sta
tem
en
t a
me
nd
ed
.
No
te 4
2 r
eco
ncile
s n
et d
eficit t
o n
et ca
sh
flo
ws f
rom
op
era
tin
g a
ctivitie
s.
No
tes 4
0 a
nd
41
am
en
de
d t
o r
efle
ct th
e c
ha
ng
es m
ad
e t
o t
he
ma
in c
ash
flo
w s
tate
me
nt
for
issu
es s
uch
as c
ap
ita
l g
ran
ts,
VA
T s
ha
rin
g r
ece
ipts
an
d N
ND
R a
nd
Co
un
cil
Ta
x d
eb
tors
.
A n
um
be
r o
f a
me
nd
me
nts
we
re r
eq
uir
ed
:
D
ep
recia
tion
wro
ng
ly in
clu
de
d im
pa
irm
en
t a
nd
do
wn
wa
rd r
eva
lua
tio
ns;
Im
pa
irm
en
ts a
nd
do
wn
wa
rd r
eva
lua
tio
ns d
id n
ot
inclu
de
all
rele
va
nt
am
ou
nts
;
M
ove
me
nt
in o
the
r p
rovis
ion
s s
ho
uld
ha
ve
be
en
dis
clo
se
d s
ep
ara
tely
fro
m t
he
mo
ve
me
nt
in t
he
ba
d d
eb
t p
rovis
ion
;
M
ove
me
nt
in d
eb
tors
an
d c
red
ito
rs a
me
nd
ed
to
re
fle
ct
ch
an
ge
s t
o N
ND
R a
nd
Co
un
cil
Ta
x;
C
arr
yin
g a
mo
un
ts o
f n
on c
urr
en
t a
sse
ts s
old
to
be
in
clu
de
d;
P
roce
ed
s f
rom
sa
les o
f P
PE
, in
ve
stm
en
t p
rop
ert
y a
nd
in
tan
gib
le a
sse
ts s
old
.
��� �
Min
or
am
en
dm
en
ts a
nd
in
co
nsis
ten
cie
s w
ith
in t
he
acco
un
ts
A n
um
be
r o
f m
ino
r a
me
nd
me
nts
we
re m
ad
e t
o t
he
acco
un
ts to
co
rre
ct
inco
nsis
tencie
s
be
twe
en
no
tes a
nd
th
e p
rim
ary
sta
tem
en
ts,
err
ors
in
te
rmin
olo
gy,
pa
ge
re
fere
ncin
g a
nd
Co
de
dis
clo
su
re r
eq
uir
em
en
ts.
� ���� ��� $�� � � ���� �7 �# ����� ��� �# �� �� �� ��
No
te 2
1 o
n P
rop
ert
y,
Pla
nt
an
d E
qu
ipm
en
t (P
PE
)
co
nta
ine
d e
rro
rs.
Th
is w
as a
re
su
lt o
f in
co
rre
ctly
cla
ssifyin
g t
he
ma
jori
ty o
f re
va
lua
tio
ns lo
sses a
s
imp
air
me
nt
losse
s a
nd
ma
kin
g a
n e
ntr
y o
n t
he
wro
ng
line
.
No
te 2
1 o
n P
PE
up
da
ted
to
ad
dre
ss t
he
va
rio
us e
rro
rs id
en
tifie
d:
Im
pa
irm
en
t lo
sse
s f
or
lan
d a
nd
bu
ildin
gs o
f £
63
1,0
00
ch
arg
ed
ag
ain
st
the
re
va
lua
tio
n
rese
rve
no
w s
ho
wn
as r
eva
lua
tio
n d
ecre
ase
s r
eco
gn
ise
d in
th
e r
eva
lua
tio
n r
ese
rve
;
Im
pa
irm
en
t lo
sse
s f
or
surp
lus a
ssets
of
£2
37
,00
0 c
ha
rge
d a
ga
inst
the
re
va
lua
tio
n r
ese
rve
no
w s
ho
wn
as r
eva
lua
tio
n d
ecre
ases r
eco
gn
ised
in
th
e r
eva
lua
tio
n r
ese
rve
;
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�,
� ����
�� �� ���� ��� �����
Imp
air
me
nt
losse
s f
or
lan
d a
nd
bu
ildin
gs o
f £
1,1
37
,00
0 r
ecog
nis
ed
in
the
su
rplu
s /
de
ficit
on
th
e p
rovis
ion
of
se
rvic
es n
ow
sh
ow
n a
s d
ep
recia
tio
n w
ritt
en
ou
t to
th
e s
urp
lus /
de
ficit
on
th
e p
rovis
ion
of
se
rvic
es.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
�
Co
mp
reh
en
siv
e in
co
me
an
d
exp
en
ditu
re s
tate
me
nt
Ba
lan
ce
sh
ee
t
4 ��9 ��� �� �� ��� �� ����0�� � ��� �/�� �� ��9 ��� ���) : �
� : �) : �� : �
Inve
stm
en
t p
rop
ert
ies
Th
ree
pro
pe
rty le
ase
s,
wh
ere
th
e
Co
un
cil
acts
as le
sso
r, s
ho
uld
be
acco
un
ted
fo
r a
s a
fin
ance
le
ases.
Th
is w
ou
ld r
em
ove
th
e a
sse
ts f
rom
the
Co
un
cil’
s b
ala
nce
sh
ee
t.
1
96
,50
0
Pro
pe
rty,
Pla
nt
an
d E
qu
ipm
en
t V
eh
icle
s le
ase
s t
rea
ted
as o
pe
ratin
g
lea
se
s b
ut sh
ou
ld b
e f
ina
nce
le
ases
an
d b
rou
gh
t o
nto
th
e b
ala
nce
sh
ee
t.
11
5,0
00
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
��A
sta
tem
en
t o
f in
tern
al co
ntr
ol p
rep
are
d b
y a
n a
ud
ite
d b
od
y a
nd
pu
blis
hed
with
th
e f
ina
ncia
l sta
tem
en
ts.
A c
ert
ific
ate
th
at
I h
ave
co
mp
lete
d t
he
au
dit f
ollo
win
g s
tatu
tory
re
qu
ire
me
nts
. T
his
ma
rks t
he
po
int
wh
en
I h
ave
co
mp
lete
d m
y r
esp
on
sib
ilitie
s f
or
the
au
dit o
f th
e p
eri
od
co
ve
red
by t
he
fin
an
cia
l sta
tem
en
ts.
On
co
mp
letio
n o
f th
e a
ud
it o
f th
e f
ina
ncia
l sta
tem
en
ts,
I m
ust
giv
e m
y o
pin
ion
on
the
fin
an
cia
l sta
tem
en
ts,
inclu
din
g:
w
he
the
r th
ey g
ive
a t
rue
an
d f
air
vie
w o
f th
e f
ina
ncia
l p
ositio
n o
f th
e a
ud
ite
d b
od
y a
nd
its
sp
en
din
g a
nd
in
com
e f
or
the
ye
ar
in q
ue
stio
n;
an
d
w
he
the
r th
ey h
ave
be
en
pre
pa
red
pro
pe
rly,
follo
win
g t
he
re
leva
nt
acco
un
tin
g r
ule
s.
If I
ag
ree
tha
t th
e f
ina
ncia
l sta
tem
ents
giv
e a
tru
e a
nd
fa
ir v
iew
, I
issu
e a
n u
nq
ua
lifie
d o
pin
ion
. I
issu
e a
qu
alif
ied
op
inio
n if:
I
fin
d t
he
sta
tem
en
ts d
o n
ot
giv
e a
tru
e a
nd
fa
ir v
iew
; o
r
I
ca
nn
ot
co
nfirm
th
at
the
sta
tem
en
ts g
ive
a t
rue
an
d f
air
vie
w.
Th
e A
ud
itin
g P
ractice
s B
oa
rd (
AP
B)
de
fin
es t
his
co
nce
pt
as ‘a
n e
xp
ressio
n o
f th
e r
ela
tive
sig
nific
an
ce
or
imp
ort
an
ce
of a
pa
rtic
ula
r m
att
er
for
the
fin
an
cia
l sta
tem
en
ts a
s a
wh
ole
. A
ma
tte
r is
ma
teri
al if its
om
issio
n w
ou
ld r
ea
so
na
bly
in
flu
en
ce
use
rs o
f th
e f
ina
ncia
l sta
tem
en
ts,
su
ch a
s t
he
ad
dre
sse
es o
f th
e a
ud
itor’
s r
ep
ort
; a
lso
a m
issta
tem
en
t is
ma
teri
al if it w
ou
ld h
ave
a s
imila
r in
flu
en
ce
. M
ate
ria
lity m
ay a
lso
be
co
nsid
ere
d f
or
an
y
ind
ivid
ua
l p
rim
ary
sta
tem
en
t w
ith
in t
he
fin
an
cia
l sta
tem
en
ts o
r o
f in
div
idu
al ite
ms in
clu
de
d in
th
em
. W
e c
an
no
t d
efin
e m
ate
ria
lity m
ath
em
atica
lly,
as it
ha
s b
oth
num
eri
ca
l a
nd
no
n-n
um
eri
ca
l a
sp
ects
’.
Th
e t
erm
‘m
ate
ria
lity’ a
pp
lies o
nly
to
th
e f
ina
ncia
l sta
tem
en
ts.
Au
dito
rs a
pp
oin
ted
by t
he
Co
mm
issio
n h
ave
re
sp
on
sib
ilitie
s a
nd
du
tie
s u
nd
er
sta
tute
, a
s
we
ll a
s t
he
ir r
esp
on
sib
ility
to
giv
e a
n o
pin
ion
on
th
e f
ina
ncia
l sta
tem
en
ts,
wh
ich
do
not
ne
ce
ssa
rily
aff
ect
the
ir o
pin
ion
on
th
e f
ina
ncia
l sta
tem
en
ts.
‘Sig
nific
ance
’ a
pp
lies to t
he
se
wid
er
resp
on
sib
ilitie
s a
nd
au
dito
rs a
do
pt
a le
ve
l o
f sig
nific
an
ce
th
at m
ay d
iffe
r fr
om
th
e m
ate
ria
lity le
ve
l a
pp
lied
to
th
eir
au
dit in
re
latio
n t
o t
he
fin
an
cia
l sta
tem
en
ts.
Sig
nific
an
ce
has b
oth
qu
alit
ative
an
d q
ua
ntita
tive
aspe
cts
.
A w
ea
kn
ess in
in
tern
al co
ntr
ol e
xis
ts w
he
n:
a
co
ntr
ol is
de
sig
ne
d,
se
t u
p o
r u
sed
in
su
ch
a w
ay t
ha
t it is u
na
ble
to
pre
ve
nt,
or
de
tect
an
d c
orr
ect,
mis
sta
tem
en
ts in
th
e f
ina
ncia
l sta
tem
en
ts
qu
ickly
; o
r
a
co
ntr
ol n
ece
ssa
ry t
o p
reve
nt,
or
de
tect
an
d c
orr
ect,
mis
sta
tem
en
ts in
th
e f
ina
ncia
l sta
tem
en
ts q
uic
kly
is m
issin
g.
An
im
po
rta
nt
we
akn
ess in
in
tern
al con
tro
l is
a w
ea
kn
ess,
or
a c
om
bin
ation
of
we
akn
esse
s t
ha
t, in m
y p
rofe
ssio
na
l ju
dg
em
en
t, a
re im
po
rta
nt
en
ou
gh
tha
t I
sh
ou
ld r
ep
ort
th
em
to
yo
u.
Th
e a
ud
ito
r’s c
on
clu
sio
n o
n w
he
the
r th
e a
ud
ite
d b
od
y h
as p
ut
in p
lace
pro
pe
r a
rra
ng
em
en
ts f
or
se
cu
rin
g e
con
om
y,
eff
icie
ncy a
nd
eff
ective
ne
ss in
its
use
of
reso
urc
es b
ase
d o
n c
rite
ria
sp
ecifie
d b
y th
e A
ud
it C
om
mis
sio
n.
Th
e C
od
e o
f A
ud
it P
ractice
de
fin
es p
rop
er
arr
an
ge
me
nts
as c
orp
ora
te p
erf
orm
an
ce
ma
na
ge
me
nt
an
d f
ina
ncia
l m
an
ag
em
en
t a
rra
ng
em
en
ts t
ha
t fo
rm a
ke
y p
art
of
the
syste
m o
f in
tern
al con
tro
l.T
he
se
co
mp
rise
th
e a
rra
ng
em
en
ts f
or:
p
lan
nin
g f
ina
nce
s e
ffe
ctive
ly t
o d
eliv
er
str
ate
gic
pri
ori
tie
s a
nd
se
cu
re s
ou
nd
fin
an
cia
l h
ea
lth
;
h
avin
g a
so
un
d u
nd
ers
tan
din
g o
f costs
an
d p
erf
orm
an
ce
an
d a
ch
ievin
g e
ffic
ien
cie
s in
activitie
s;
re
liab
le a
nd
tim
ely
fin
an
cia
l re
po
rtin
g th
at
me
ets
th
e n
ee
ds o
f in
tern
al u
se
rs,
sta
ke
hold
ers
an
d lo
cal p
eo
ple
;
co
mm
issio
nin
g a
nd
bu
yin
g q
ua
lity s
erv
ice
s a
nd
su
pp
lies th
at
are
ta
ilore
d t
o lo
ca
l n
eed
s a
nd
de
live
r su
sta
ina
ble
ou
tco
me
s a
nd
va
lue
fo
r m
on
ey;
p
rod
ucin
g r
ele
va
nt
an
d r
elia
ble
da
ta a
nd
in
form
atio
n t
o s
up
port
de
cis
ion m
akin
g a
nd
ma
na
ge
pe
rfo
rma
nce
;
p
rom
otin
g a
nd
dis
pla
yin
g t
he
pri
ncip
les a
nd
va
lue
s o
f g
oo
d g
ove
rna
nce
;
m
an
ag
ing
ris
ks a
nd
ma
inta
inin
g a
so
un
d s
yste
m o
f in
tern
al co
ntr
ol;
m
akin
g e
ffe
ctive
use
of n
atu
ral re
sou
rce
s;
m
an
ag
ing
asse
ts e
ffective
ly t
o h
elp
de
live
r str
ate
gic
pri
ori
ties a
nd
se
rvic
e n
ee
ds;
and
p
lan
nin
g,
org
an
isin
g a
nd
de
ve
lop
ing
th
e w
ork
forc
e e
ffe
ctively
to
su
pp
ort
th
e a
ch
ieve
me
nt
of
str
ate
gic
pri
ori
ties.
If I
fin
d t
ha
t th
e a
ud
ite
d b
od
y h
ad
ad
eq
ua
te a
rra
ng
em
en
ts,
I is
su
e a
n u
nqu
alif
ied
con
clu
sio
n.
If I
fin
d t
ha
t it d
id n
ot,
I issu
e a
qu
alif
ied
co
nclu
sio
n.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
��
������� ��� �� ������� ��� �
Esta
blis
h s
yste
ms t
o m
on
ito
r a
ctu
al lif
ecycle
exp
en
ditu
re o
n th
e P
FI
asset
an
d t
he
tim
ing
of
sp
en
d t
o e
na
ble
accu
rate
fin
an
cia
l re
po
rtin
g.
If w
ork
s
do
no
t m
ee
t th
e d
efin
itio
n o
f ca
pita
l e
xp
en
ditu
re,
the
y s
ho
uld
no
t b
e c
ap
ita
lise
d.
Co
ntr
acts
& P
rop
ert
y M
an
ag
er
/ F
inan
cia
l S
erv
ice
s M
an
ag
er
������+�#�� � Hig
h
" � � �� �
31
De
ce
mb
er
20
11
) �� � � ����� �
Th
is m
ay r
eq
uir
e in
form
atio
n t
o b
e r
eq
ue
ste
d f
rom
th
e o
pe
rato
r. T
he
Co
un
cil
will
ch
eck t
he
co
ntr
act
to e
sta
blis
h t
he
req
uir
em
en
t fo
r th
e o
pe
rato
r to
su
bm
it a
nn
ua
l m
ain
ten
an
ce
pla
ns g
ivin
g d
eta
ils o
f th
e w
ork
s t
o b
e c
arr
ied
ou
t. T
his
will
be
a s
tart
ing p
oin
t fo
r th
e C
ou
ncil
to w
ork
ou
t th
e le
ve
l o
f re
pla
ce
me
nt
an
d e
nh
an
ce
me
nt
wo
rks.
If w
ork
s d
o n
ot
me
et
the
de
fin
itio
n o
f ca
pita
l e
xp
en
ditu
re,
the
y s
ho
uld
no
t b
e c
ap
ita
lised
.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
��
������� ��� ��
Fin
an
ce
sta
ff s
ho
uld
use lo
ca
l, r
eg
ion
al a
nd
na
tio
na
l co
nta
cts
as a
so
und
ing
bo
ard
on
so
me
of
the
mo
re c
om
ple
x a
cco
untin
g issue
s. T
his
will
help
bu
ild c
ap
acity a
nd
kn
ow
led
ge
with
in F
ina
nce
an
d m
ay h
ave
he
lpe
d m
inim
ise
err
ors
in
th
e a
cco
un
ts.
Fin
an
cia
l S
erv
ice
s M
an
ag
er
������+�#�� � Hig
h
" � � �� �
by 3
1 M
arc
h 2
01
2
) �� � � ����� �
Att
en
da
nce
at
the
Cu
mb
ria
Wid
e A
cco
un
tan
cy G
rou
p w
ill b
e im
pro
ve
d.
Als
o C
IPF
A n
etw
ork
eve
nts
to
be
atte
nd
ed
wh
ere
ap
pro
pri
ate
, w
ith
ne
go
tia
tio
ns o
n s
om
e s
pe
cific
Cu
mb
ria
wid
e e
ve
nts
to
be
pro
gre
sse
d t
o lim
it t
he
tra
ve
llin
g
req
uir
em
en
ts.
Un
de
r th
e n
ew
fin
an
cia
l se
rvic
es s
tru
ctu
re,
a fu
ll T
rain
ing
Ne
ed
s A
na
lysis
will
be
ca
rrie
d o
ut
for
all
fin
an
ce
sta
ff.
Sp
ecific
tra
inin
g w
ill b
e p
rovid
ed
fo
r sp
ecia
list
are
as s
uch
as P
FI,
Le
asin
g a
nd
Asse
t a
cco
un
tin
g.
������� ��� ��
Re
vie
w t
he
ap
pro
ach
use
d t
o c
om
po
ne
ntisa
tio
n a
nd
en
su
re th
at
the
va
lue
r p
rovid
es a
n a
sse
ssm
en
t o
f th
e u
se
ful e
co
no
mic
life
of th
e in
div
idu
al
co
mp
on
en
ts f
or
ea
ch
asse
t th
at
ha
s to
be
co
mp
on
en
tise
d.
Co
ntr
acts
an
d P
rop
ert
y M
an
ag
er
/ F
ina
ncia
l S
erv
ice
s M
an
ag
er
������+�#�� � Hig
h
" � � �� �
31
De
ce
mb
er
20
11
) �� � � ����� �
Pri
ncip
les a
nd
syste
ms t
o b
e a
gre
ed
by e
nd
of
De
ce
mb
er
to e
na
ble
in
form
atio
n t
o b
e p
rovid
ed
to
th
e t
ime
sca
les a
gre
ed
as p
art
of
the
an
nu
al S
tate
me
nt
of
Acco
un
ts c
lose
do
wn
tim
eta
ble
.
� ����� ���� ��� � A
nn
ua
l g
ove
rna
nce
re
port
��
������� ��� ��
Imp
rove
th
e u
nd
ers
tan
din
g o
f a
nd
app
lica
tio
n o
f th
e C
od
e r
eq
uir
em
en
ts w
ith
in t
he
Cou
ncil’
s F
ina
nce
de
pa
rtm
en
t.
Fin
an
cia
l S
erv
ice
s M
an
ag
er
������+�#�� � Hig
h
" � � �� �
By 3
1 M
arc
h 2
01
2
) �� �
Fu
rth
er
tra
inin
g w
ill b
e p
rovid
ed
as a
pp
rop
ria
te.
� ����� � ������� ��� ��
Re
vie
w t
he
de
min
imis
le
ve
l se
t fo
r d
isclo
sin
g r
ela
ted
pa
rty d
isclo
su
res a
nd
se
t it a
t a le
ve
l th
at
wo
uld
be
co
nsid
ere
d m
ate
ria
l fr
om
th
e v
iew
po
int
of
bo
th t
he
Co
un
cil
an
d a
re
late
d p
art
y,
wh
ich
ma
y w
ell
be
an
ind
ivid
ua
l. T
he
Co
un
cil
sho
uld
als
o r
evie
w its
in
form
atio
n s
ou
rce
s u
se
d t
o id
en
tify
rela
ted
pa
rty t
ran
sa
ctio
ns. F
ina
ncia
l S
erv
ice
s M
an
ag
er
������+�#�� � Mediu
m
" � � �� �
31
Ma
rch
20
12
) �� �
Inp
ut
ne
ed
ed
fro
m a
ll C
ou
ncil
de
pa
rtm
en
ts w
he
re t
he
re is a
n in
vo
lve
me
nt
with
exte
rna
l o
rga
nis
atio
ns.
� ����� � ������� ��� ��
Re
vie
w t
he
cu
rre
nt
sta
tus o
f b
en
efits
de
bto
rs g
rea
ter
tha
n 3
ye
ars
old
. W
he
re a
re
pa
ym
en
t p
lan
is n
ot
in p
lace
, o
r th
e d
eb
t is
no
t b
ein
g a
ctive
ly
pu
rsu
ed
, con
sid
era
tio
n s
ho
uld
be
giv
en
to
th
eir
wri
te o
ff.
He
ad
of
Co
rpo
rate
Re
so
urc
es
������+�#�� � Mediu
m
" � � �� �
By 3
1 M
arc
h 2
01
2
) �� � � ����� �
Imp
act
on
th
e le
ve
l o
f b
ad
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