TANDRIDGE District Council’s external auditors have stated that the Council’s expenditure and income for the year had been properly accounted for in accordance with the Code of Practice on Local Authority Accounting 2017/2018.
The Auditors went on to tell the Council’s Strategy & Resources Committee- it approved the Council’s final accounts for 2017/2018- they were satisfied that, in all significant respects, Tandridge District Council had proper arrangements in place to secure economy, efficiency and effectiveness in its use of resources for the year.
At the end of March 2018, there was an underspend of £128,400 (1.3%) against the Council’s general fund budget which included £133,000 additional income from the Council’s treasury management investment programme.
In total, Investment Income was £819,000 which is equivalent to 10.7% of the council tax raised by Tandridge District Council. Reserves stood at £18.5m at March 2018 putting the Council in a sound position to face the financial challenges ahead.
The statutory deadline for completion of the accounts in 2017/2018 was brought forward by a month. Despite this shorter timescale the accounts were signed off as being accurate and there had been no reduction in the quality of the financial statements.
Councillor Martin Fisher, Leader of the Council, said: “I would like to thank the staff for their hard work and commitment in producing the Final Accounts and meeting the earlier deadline. We pride ourselves on our careful financial management and I am pleased the auditors have concluded we make the best use of our resources to achieve our objectives.”