TO APPROVE THE 2005/2006 FINANCIAL STATEMENTS

The draft Statement of Accounts (Financial Statements) for 2005/06 were approved at the Authority meeting of 24th July 2006. Following the audit of these accounts the Wales Audit Office requested that certain amendments be made as detailed below. These amendments have now been made and the Authority is requested to approve the resulting final Financial Statements for 2005/06 These have to be signed by both the Chairman and the Treasurer to the Authority.

The following amendments were requested by the Wales Audit Office and were subsequently included within the Accounts for 2005/06

Note 12 to the Balance Sheet (Pensions Liability)

• An additional disclosure was inserted in Note 12 to state an actuarial assumption used in their calculations. This then complied with LAAP Bulletin 65.
• To ensure the accounts include the required disclosures set out in LAAP Bulletin 65.

Note 8 to the Revenue Account

• Note 8 to the revenue account was amended to ensure that it agreed with the underlying supporting working papers. As this is a disclosure note only, the amendments had no effect on the overall revenue account total.
• To ensure the accounts are accurate.

Narrative/Presentational changes for the Authority accounts

• A small number of narrative/presentational changes were made to the accounts and notes in order for them show presentational accuracy.
• To ensure the accounts have presentational accuracy.

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