Agenda item

The Chair invited Bevis Ingram, Senior Adviser, to present the report which outlined a draft response to a consultation from HM Treasury following the thematic review of non-investment assets for financial reporting purposes, to be cleared by the Board.  

? 

The response suggested improvements that could be made to the proposals for valuing infrastructure assets and broadly supported the proposals for other types of assets.  

? 

Members made the following comments:  

·        Members raised strong concerns that the proposals for valuing infrastructure assets. If implemented thesewill cause significant problems and additional costs for councils and will further contribute to audit delays. Members asked that the response reflected these concerns more strongly. 

·        Members supported the rest of the proposed response. 

Decision:  

? 

Members approved the draft response to the consultation as set out in the appendix, subject to it being strengthened in the light of the above comments; and 

? 

The final version of the consultation response to be cleared by Resources Lead Members.