To consider a report of the Executive Member for Finance and Governanceand the Director of Finance and Systems.

The Strategic Finance Manager introduced a report of the Executive Member for Finance and Governanceand the Director of Finance and Systems which explained the accounting concepts and policies that would be used in preparing the 2020/21 annual accounts. It was noted that there were no material changes to the Accounting Policies for 2020/21, but that the impact of any current and forthcoming amendments, including in relation to the accounting treatment of leased assets, was being kept under review.

          RESOLVED –

(1)      That the accounting concepts and policies that will be used in completing the 2020/21 annual accounts be approved.

(2)      That the changes be noted in accounting standards issued but not yet adopted until 2021/22 in respect of accounting for leases.