Issue - meetings

Officers advised the Committee that a number of areas of focus had been identified, in order to prepare Havering to meet the challenge of shorter timescales and to reduce the lead time in the publication of the accounts and subsequent audit.

Stronger project management had been adopted, with a workshop held involving key officers, to redefine the closedown timetable in order to meet the new timescales.  Critical paths had been identified and would be monitored regularly. Finance were finalising plans to run a mini closedown for all income and expenditure incurred up to 31^st December 2017, with the aim of producing single entity primary statements by 31^st January 2018.  OneSource would be promoting balance sheet monitoring and ownership during the course of the year as part of monthly processes, and this would feed into the interim audit.  The Corporate Business Systems Team were ensuring greater compliance of feeder system information being posted to the general ledger.  There would be regular Council wide updates, in addition to monthly updates to the Senior Leadership Team, to ensure effective communication on the closure of accounts. 

It was proposed that members receive training on the approved draft accounts in July.  It was highlighted that new committee members needed be identified at the earliest opportunity and suggested that an annual schedule of training be drafted. 

The Committee noted the approach taken for the early Closing of Accounts 2017/18.