Notice of Conclusion of Audit 2019 – 2020
Newmarket Town Council
Notice of conclusion of audit
Annual Governance & Accountability Return for the year ended 31 March 2020
Sections 20(2) and 25 of the Local Audit and Accountability Act 2014 Accounts and Audit Regulations 2015 (SI 2015/234)
Accounts and Audit (Coronavirus) (Amendment) Regulations 2020 (SI 2020/404)
- The audit of accounts for Newmarket Town Council for the year ended
31 March 2020 has been completed and the accounts have been published.
- The Annual Governance & Accountability Return is available for inspection by any local government elector of the area of Newmarket Town Council on application to:
(a) The Finance Manager, Newmarket Town Council, King Edward Memorial Hall,
High Street, Newmarket CB8 8JP
(b) Due to the current pandemic, notification of the wish to take up inspection rights should be sent by email to admin@newmarket.gov.uk or by telephone – 01638 667 227
- Copies will be provided to any person on payment of £5.00 for each copy of the Annual Governance & Accountability
Notes
This notice and Sections 1, 2 & 3 of the AGAR must be published by 30 November. This must include publication on the smaller authority’s website.
The smaller authority must decide how long to publish the Notice for; the AGAR and external auditor report must be publicly available for 5 years.
- Insert the name, position and address of the person to whom local government electors should apply to inspect the AGAR
- Insert the hours during which inspection rights may be exercised
- Insert a reasonable sum for copying costs
Announcement made by: (d) D. Baines, Town Clerk
Date of announcement: (e) 27/11/20
- Insert the name and position of person placing the notice
- Insert the date of placing of the notice
Section 1 – Annual Governance Statement 2019/20
We acknowledge as the members of:
NEWMARKET TOWN COUNCIL
our responsibility for ensuring that there is a sound system of internal contrql, including arrangements for the preparation of the Accounting Statements. We confirm, to the best of our knowledge and belief, with respect to the Accounting Statements for the year ended 31 March 2020, that:
| 1. We have put in Inplace arrangements for effective financial
management during the year, and for the preparation of the accounting statements. |
prepared its accounting statements in accordance
with the Accounts and Audit Regulations. |
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| 2. We maintained an adequate system of internal control Including measures designed to prevent and detect fraud and corruption and reviewed its effectiveness. | made proper arrangements and accepted respo11sibilily
for safeguarding the public money and resources In its charge. |
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| 3. We took all reasonable steps to assure ourselves “81 there are no matters cl actual or potential non•co lance with laws, regulations and Proper Practices that could have a significant frumcialerrect on the ability of this authority to conduct Its
business or manage Its finances. |
has only done what it has the legal power to do ltlld has
comp/led with Proper Practices in doing so. |
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| 4. We provided the proper opportunity during the year for the exercise of electors’ rights in accordance with the requirements cl the Accounts and Audit Regulations. | during the )INr ge11e all persons Interested the opportunity to inspect and ask questions about this authority‘s accounts. | |||
| 5. We carried out an assessment of the risks facing this authority and look for appropriate steps to manage these risks, including the introduction of internal controls and/or external Insurance cover where required. | considered and documented the financial and other risks it faces and dealt with them properly. | |||
| 6. We maintained throughout the ye• an adequate and effective system of internal audit of the accounting records and control systems. | ltmJllged for a competent person, independent ol the financial controls and procedures, to g/119 an ob}ecllve view on whether internal controls meet the needs cf this smaller authority. | |||
| 7. We took appropriate action on all matters raised in reports from Internal and eJClemal audll | responded to matters brought ti /l | –s aflention by inlemaf and | ||
| external audit . | ||||
| 8.We considered v..flether any llliga llon, liabilities or commitments, events or transactoi ns, occurring either during or after the year-end, have a financial impact on this authority and, where appropriate, have included1hem in the accounting statements. | disclosed everything fl should have about its business activity during the year including events taking place near the year-end if relevant. | |||
| 9. (For local councils only) Trust funds including charitable. In OlX capacity as the sole managing trustee, we discharged our accountability responslblllles for the fund{s)Assets, including fit’lllncial repor11ng and, If required, Independent examination or audit. | has met ell of Its responsibilities where, as a body corporate, ii is a sole managing trustee of a local trust or trusts. | |||
•Please provide explanations to the external auditor on a separate sheet for each ‘No’ response and describe how the authority will address the weaknesses Identified. These sheets must be published with the Annual Governance Statement.
This Annual Governance Statement was approved a1a meeting of the authority on:
and recorded as minute reference:
Signed by the Chairman and Clerk of the meeting where approval was given:
Chainnan Clerk
Item 13
Section 2 -Accounting Statements 2019/20 for
NEWMARKET TOWN COUNCIL
| 8. Total value of cash and short term Investments | 280,049 | 342,857 | The sum of all current and deposit bank accounts, cash holdings and short-term investments held as at 31 March –
To agree with bank reconc iliati on. |
| 9. Total fixed assets plus long term investments and assets | 4,452,315 | 4,481,701 | The value of aH the property the authority owns – it is made
l.f) of all its fixed assets and long term investments as at 31 March. |
| 10. Total borrowings | 940,673 | 889,349 | The outstanding capital balance as at 31 March of all loans
from third parties (including PWLBJ. |
- (For Local Councils Only) Disclosure note re Trust funds (including charitable)
The Council, as a body corporate, acts as sole trustee for
and is responsible for managing Trust funds or assets.
N.B. The figures in the accounting statements above do
not include any Trust transactions.
I certify that for the year ended 31 March 2020 the Accounting Statements in this Annual Governance and AccountabHity Return have been prepared on either a receipts and payments or income and expenditure basis following the guidance in Governance and Accountability for Smaller Authorities – a Practitioners’ Guide to Proper Practices and present fairly the financial position of this authority.
Signed by Responsible Financial Officer before being presented to the authority for approval
Date 30 \ + \ 1,0 J.,O
I confirm that these Accounting Statements were approved by this authority on this date:
as recorded in minute reference:
J.o I o 1- ,f =r . o 1
Signed by Chairman of the meeting where the Accounting Statements were approved
Annual Governance and Accountability Return 2019/20 Part 3
Local Councils, Internal Drainage Boards, and other Smaller Authorities*
Section 3 – External Auditor Report and Certificate 2019/20
In respect of NEWMARKET TOWN COUNCIL – SF0285
Respective responsibilities of the body and the auditor
This authority is responsible for ensuring that its financial management is adequate and effective and that it has a sound system of internal control. The authority prepares an Annual Governance and Accountability Return in accordance with Proper Practices which:
- summarises the accounting records for the year ended 31 March 2020; and
- confirms and provides assurance on those matters that are relevant to our duties and responsibilities as external
Our responsibility is to review Sections 1 and 2 of the Annual Governance and Accountability Return in accordance with guidance issued by the National Audit Office (NAO) on behalf of the Comptroller and Auditor General (see note below). Our work does not constitute an audit carried out in accordance with International Standards on Auditing (UK & Ireland) and does not provide the same level of assurance that such an audit would do.
2 External auditor report 2019/20
- External auditor certificate 2019/20
We certify that we have completed our review of Sections 1 and 2 of the Annual Governance and Accountability Return, and discharged our responsibilities under the Local Audit and Accountability Act 2014, for the year ended 31 March 2020.
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External Auditor Name
External Auditor Signature Date
Annual Internal Audit Report 2019/20
NEWMARKET TOWN COUNCIL
This authority’s internal auditor, acting independently and on the basis of an assessment of risk, carried out a selective assessment of compliance with relevant procedures and controls to be in operation during the financial year ended 31 March 2020.
The internal audit for 2019/20 has been carried out in accordance with this authority’s needs and planned coverage. On the basis of the findings in the areas examined, the internal audit conclusions are summarised in this table. Set out below are the objectives of internal control
and alongside are the internal audit conclusions on whether, in all significant respects, the control objectives were being achieved throughout the financial year to a standard adequate to meet the needs of this authority.
Internal control objective
- This authority complied with its financial regulations , payments were supported by invoices, all expenditure was approved and VAT was appropriately accountedAppropriate accounting records have been properly kept throughout the financial year.
- This authority assessed the significant risks to achieving its objectives and reviewed the adequacy of arrangements to manage
- The precept or rates requirement resulted from an adequate budgetary process; progress against the budget was regularly monitored; and reserves were
- Expected income was fully received, based on correct prices, properly recorded and promptly
- Salaries to employees and allowances to members were paid in accordance with this authority ‘s approvals, and PAYE and NI requirements were properly applied.
- Asset and investments registers were complete and accurate and properly maintained.
- Periodic and year-end bank account reconciliations were properly carried
- Accounting statements prepared during the year were prepared on the correct accounting basis (receipts and payments or income and expenditure), agreed to the cash book, supported by an adequate audit trail from underlying records and where appropriate debtors and creditors were properly recorded. : 1 1
The authority has demonstrated that during summer 2019 it correctly provided for the exercise of public rights as required by the Accounts and Audit Regulations.K . IF the authority certified itself as exempt from a limited assurance review in 2018/19, it met the exemption criteria and correctly declared itself exempt. (If the authority had a limited assurance review of its 2018119 AGAR tick “not covered‘J
For any other risk areas identified by this authority adequate controls existed (list any other risk areas on separate sheets if needed).
Date(s) internal audit undertaken
12/12/2019 30/06/2020
Signature of person who carried out the internal audit
Name of person who carried out the internal audit
S J Pollard for Auditing Solutions Ltd
03/07/2020
Date
*If the response is ‘no’ you must include note to state the implications and action being taken to address any weakness in control identified (add separate sheets if needed).
**Note: If the response is ‘not covered’ please state when the most recent internal audit work was done in this area and when it is next planned, or, if coverage is not required, the annual internal audit report must explain why not (add separate sheets if needed).
Annual Governance and Accountability Return 2019/20 Part 3
Local Councils, Internal Drainage Boards and other Smaller Authorities*