Tom Sault introduced the Statement of Accounts covering report and Appendix. He said the Merseyside Pension Fund was part of the Metropolitan Borough of Wirral’s accounts and this was a recommendation from the Pension Committee. There was the report to the District Auditor, Annual Governance Statement and letter of representation as well as the Action Plan. It had been signed off and there had been a briefing in July.
Unfortunately it had been published on the 4th July instead of the 30th June, which was behind the deadline. These would be formally published by the 30th September. They would get the auditor’s report in the next couple of days. There was an adjustment to one outstanding item, which was likely to happen by the end of the day. It was to do with a complex issue affecting £6 million of capital grants. This had no effect on the bottom line. There was an adjustment to two accounts, one being the technical services department with regards to how assets are treated under the International Financial Reporting Standards. This had no effect on the bottom line, but lessons had been learnt.
Cllr Crabtree asked Mike Thomas to respond.
Mike Thomas said the key messages had been issued in a supplement to page 36 and went on to talk about value for money, internal control weaknesses and key matters. He said it had been a challenging year in the public sector. He was still of the view that it was an unqualified opinion. He thought project management could be better and they needed to manage the process better.