Aberdeen Cty 54 Regulatory News (54MP)

Aberdeen City Council: Audited Annual Accounts 2016/17

Aberdeen City Council today published its Audited Annual Accounts 2016/17 as part of the agenda for the forthcoming meeting of the Audit, Risk and Scrutiny Committee.

The agenda also includes the Annual Audit Report to the Members of Aberdeen City Council and the Controller of Audit for the year ended 31 March 2017, compiled by external auditors KPMG.

The external auditor intends to issue an unqualified audit opinion and highlighted a number of key messages in their report. These include:

· The Council's strong financial position and open and transparent budget setting process supporting effective financial management;

· A governance structure demonstrating effective scrutiny, challenge and transparency on decision making, with a governance review currently being undertaken to enhance these arrangements demonstrating a commitment to improvement;

· Commitment to achieving value for money with appropriate arrangements in place for complying with the following the public pound code;

· Development of options appraisals and business case processes with value for money considerations being evident;

· Partnership working with other public sector entities and clear evidence of a commitment from management for continuous improvement;

· Approval of a balanced budget for 2017/18 supporting the Council's Strategic Business Plan and aligned to Aberdeen City's Community Planning Partnership's Local Outcome Improvement Plan;

· The requirements to maintain the credit rating obtained from Moody's Investor Service and ensure compliance with the London Stock Exchange listing rules are being controlled effectively through the bond governance working group.

Copies of both reports are available online at: https://goo.gl/8LohG2 .

ENDS

NOTES TO EDITORS:

1. Aberdeen City Council provides local government services to 115,080 households and 8,651 businesses. The authority serves a population of 229,000 directly and on an operational basis the wider North-east population of 489,000;

2. The Council employs approximately 8,600 staff.