Finance & Audit Sub-Committee

Tuesday 30 January 2001 at 3.00 pm

Present:  Councillors Jackson, McCabe, O’Rourke, Rebecchi and Robertson (Y).

Chair:  Councillor Jackson presided. 

In attendance:  Chief Executive, Depute Chief Executive, Mr H McNeilly (for Director of Legal & Support Services), Head of Accountancy Services and Chief Internal Auditor. 

Attending also:  Miss Shona Malcolm, Senior Manager, Messrs Price Waterhouse Coopers, External Auditors.

Apology:  Councillor Mitchell.

118

Bank Reconciliations

118

There was submitted a report by the Chief Internal Auditor together with supplementary report dated 26 January 2001 by the Head of Accountancy Services which was circulated at the meeting (1) outlining the position in relation to progress achieved towards bank reconciliations; (2) providing a timetable for addressing all outstanding bank reconciliation issues and (3) giving an assurance that all bank reconciliations are to be brought up to date and provided in an acceptable format by early March 2001.

Decided: 

(1)   that the action taken to date to address the continuing concerns in respect of bank reconciliations be noted;

(2)   that it be noted that all bank reconciliations will be brought up to date and provided in an acceptable format by early March 2001;

(3)   that the Head of Accountancy Services ensures that all reconciliations are reviewed and signed by a member of staff on every occasion;

(4)   that the Sub-Committee note that the Reconciliation Action Plan has been discussed with and supported by the Council’s External Auditors; and

(5)   that it be remitted to the Head of Accountancy Services to submit a report on the progress of the Reconciliation Action Plan to the next meeting of the Sub-Committee.

119

Control Accounts

119

There was submitted a report by the Chief Internal Auditor advising that at the December meeting of the Sub-Committee Para (1062) it was remitted to her to review the position in relation to progress achieved towards reconciling Control Accounts.

Decided:

(1)  that it be remitted to the Head of Accountancy Services to report on proposals to resolve the existing problems with the Creditors Control Account; and

(2)  that it be remitted to the Head of Accountancy Services to report to the next meeting on the overall position in respect of control accounts.