Statement of Accounts
Each year the Council publishes its Statement of Accounts. This document sets out the Council's income and expenditure for the year, together with the financial position of the Council at the year-end. This shows how public money has been spent.
Each year the Statement of Accounts is formally examined by external auditors.
The Statement of Accounts for the former authorities can also be found below.
SWT Statement of Accounts
Accounts and Audit Regulations 2015 Notice
Delay in Publication of the Accounts 2021/22
Under section 10 of the Accounts and Audit Regulations 2015, the Authority is required to publish its annual Statement of Accounts by 31 July each year. The publishing deadline has been extended for 2021/22 to 30 November 2022.
The Statement of Accounts includes the Authority’s Annual Governance Statement, Narrative Statement, and any audit opinion given by the external auditors at this date.
If the audit has not concluded by 30 November, the Authority is required to publish the reasons for this under Section 10.2a of the Regulations.
The Authority has material infrastructure assets. There is a national sector-wide discussion in progress in respect of the correct accounting for these, especially regarding the derecognition of parts of infrastructure assets following 'replacement' expenditure. The Department of Levelling Up, Housing and Communities (DLUHC) is expected to issue a Statutory Instrument (SI) on 30 November 2022 (coming into force on 25 December 2022) which, together with updates to the CIPFA Accounting Code, will hopefully resolve these issues. Until the SI is in place the 2021/22 audit cannot be finalised. These factors have resulted in the audit of the accounts for the year ended 31 March 2022 not being concluded in time to meet the 30 November publication date.
The latest draft Statement of Accounts for the year ended 31 March 2022 is available on the Authority’s website, subject to conclusion of the audit.
Audit of Accounts
Delay in conclusion and certification of completion of the audit of the accounts 2020/21
Grant Thornton UK LLP issued an unqualified opinion on the 2020/21 financial statements on 30 September 2021.
Grant Thornton UK LLP has also completed their work on the Authority’s arrangements for securing economy, efficiency and effectiveness in its use of resources and issued the Auditor’s Annual Report on 15 December 2021.
Grant Thornton UK LLP however cannot formally conclude the audit and issue an audit certificate for Somerset West and Taunton Council for the year ended 31 March 2021 in accordance with the requirements of the Local Audit and Accountability Act 2014 and the Code of Audit Practice until they have completed the work necessary to issue their Whole of Government Accounts (WGA) Component Assurance statement for the Authority for the year ended 31 March 2021. This aspect has been delayed pending the Government issuing proformas for completion by the Council.
Regulation 16(1) of The Accounts and Audit Regulations 2015 requires the Council to publish (which must include publication on its website) a statement:
- that the audit has been concluded
- that the statement of accounts has been published
As the audit has not yet been concluded, the Council cannot yet issue this statement. The notice of conclusion of the audit will be added alongside the delayed certificate as soon as this is issued.