Issue - meetings
Draft Financial Statements 2024/25 and Going Concern Assessment
Meeting: 19/11/2024 - Governance Committee (Item 10)
10 Draft Financial Statements 2023/24 and Going Concern Assessment 
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Purpose: This report is to inform Members of the key highlights from the draft 2023/24 financial statements and summarise management’s assessment of the Council’s ability to function as a going concern.
Minutes:
The Committee considered a report (Agenda Item 11) concerning the Draft Financial Statements 2023/24 and Going Concern Assessment.
The Service Lead for Finance, Reporting & Property introduced the report and highlighted that it was an annual report which brought the Committee’s attention to the draft financial statements for the year as well as providing a summary and narrative. This narrative highlighted that the general fund was lower than the desired level, currently at £4.1 million at the end of 2023/24 rather than the £7.2 million that was desired. She also noted that, at the time of the assessment, the Council satisfied the going concern requirements.
Overall, as the Committee were satisfied with the report, they agreed to note the Draft Financial Statements 2023/24 and Going Concern Assessment.