Statement of Accounts
Every year we produce a Statement of Accounts giving a detailed explanation of the financial position of the Council as at 31 March of the relevant year.
The timetable for the preparation of the Statement of Accounts has been brought forward from previous years. The Statement of Accounts must now be prepared and signed by the Director of Finance and Resources, in his capacity as Chief Finance Officer by 31st May. The Accounts are then inspected by externally appointed auditors.
The audit process allows for a 30 working day period of inspection of the Statements of Accounts by the public. Each year, the inspection period is publicised prior to its start. The inspection period must include the first 10 working days in June.
During this period, local electors have the right to question the appointed auditor about the Accounts and potentially make objections.
Once the audit is complete, the Statement of Accounts is submitted for approval by Council and is published by 31 July each year.
The latest Statement of Accounts and Public Inspection Notice can be downloaded directly from the foot of this page. Statement Accounts from previous years can be found under 'Related Downloads - Our Budget and Financial Processes'.
Setting the Annual Budget
Each year the Council agrees a revenue and capital budget in order to set the council tax for that year. The Council also produces a Resourcing Better Outcomes report (formerly the Budget Book) which is a summary of the Council's financial information. The latest Resourcing Better Outcomes report can be downloaded directly. Those from previous years can be found under 'Related Downloads - Our Budget and Financial Processes'.
Medium Term Financial Strategy
The Medium Term Financial Strategy sets out the major financial issues facing the Council for the next three years. It forms the background for the Council to develop its future budgets and informs medium term service and resource planning. It is reviewed annually to make sure it takes account of new developments.
The current Medium Term Financial Strategy can be downloaded directly from the foot of this page.
Annual Investment Strategy
The Annual Investment Strategy sets out the investment objectives of the council and its policy on the types of investments to be used. It also sets out the criteria for determining which organisations the council can place monies with and the approved limits and methods of placement of these monies.
The Annual Investment Strategy is produced and approved before the start of each financial year. It is kept under review throughout the year and is revised as appropriate. The latest Annual Investment Strategy can be downloaded directly from the foot of this page.
Audit Letter
Each year, the Council's Auditors produce an Audit Letter which sets out the results of their work at the Council. The Letter covers the Council's governance arrangements, its accounts, performance and inspection work and progress made in implementing improvement priorities. The latest Audit Letter can be downloaded directly from the foot of this page. Those from previous years can be found under ‘Related Downloads - Our Budget and Financial Processes’.
Notice of Delay to Conclusion of Audit of Accounts 2020-2021
The Council’s accounts have to be signed off by an outside firm of accountants. For the year 2020/21 they have not been able to complete their work and sign in time to meet the target date set by Government.
They have had to do extra work as the figures in the accounts have changed a lot as a result of the pandemic. They are also waiting for information from the Essex Pension Fund to be able to complete their work. The attached document sets out the official notice of this delay.