PART 4Published accounts and audit - smaller relevant bodies
Accounting statements12
1
Subject to paragraph (2), a smaller relevant body must prepare for each year either—
a
an income and expenditure account and a statement of balances in accordance with, and in the form specified in any Annual Return required by, proper practices in relation to accounts; or
b
a statement of accounts prepared in accordance with regulation 7, as if that regulation applied to smaller relevant bodies.
2
Where in relation to a smaller relevant body, the gross income or expenditure (whichever is the higher) was not more than £200,000 for the year or for either of the two immediately preceding years, the body may, instead of complying with paragraph (1), prepare in accordance with, and in the form specified in any Annual Return required by, proper practices in relation to accounts, a record of receipts and payments of the body in relation to that year.
Signing, approval and publication of accounting statements13
1
A smaller relevant body must ensure that the accounting statements required by regulation 12 are prepared in accordance with these Regulations.
2
Before the approval referred to in paragraph (3) is given, the responsible financial officer of a relevant body must—
a
in a case where the body has prepared a statement of accounts, sign and date the statement of accounts, and certify that it presents a true and fair view of the financial position of the body at the end of the year to which it relates and of that body’s income and expenditure for that year;
b
in a case where the body has prepared a record of receipts and payments, sign and date that record, and certify that it properly presents that body’s receipts and payments for the year to which the record relates; or
c
in any other case, sign and date the income and expenditure account and statement of balances, and certify that they present fairly the financial position of the body at the end of the year to which they relate and that body’s income and expenditure for that year.
3
A smaller relevant body must, no later than 30th June—
a
consider the accounting statements by the members meeting as a whole;
b
following that consideration, approve the accounting statements for submission to the auditor by a resolution of the body; and
c
following approval, ensure that the accounting statements are signed and dated by the person presiding at the meeting at which that approval was given.
4
A smaller relevant body must, no later than 30th September in the year immediately following the end of the year to which the statement relates, either—
a
publish the accounting statements by means other than solely by reference in the minutes of meetings, together with any certificate, opinion, or report issued, given or made by the auditor under section 9 (general report) of the 1998 Act; or
b
display a notice containing the documents mentioned in sub-paragraph (a) in a conspicuous place or places in the area of the body for a period of at least 14 days.
5
A smaller relevant body must keep copies of the documents mentioned in paragraph (4)(a) for purchase by any person on payment of a reasonable sum.
Procedure for public inspection of accounts14
The procedure for public inspection of accounts for a smaller relevant body, mentioned in regulation 22, is that the body must make the documents mentioned in that regulation available for public inspection on reasonable notice, during a period of 20 working days before the date appointed by the auditor under regulation 21.
Notice of public rights15
1
The procedure for a smaller relevant body to give notice of public rights, mentioned in regulation 24, is that it must display, in a conspicuous place or places in the area of the body for a period of at least 14 days immediately prior to the period during which the accounts and other documents are made available under regulation 14, a notice containing the matters set out in paragraph (2).
2
The matters referred to in paragraph (1) are—
a
b
details of the manner in which notice should be given of an intention to inspect the accounts and other documents;
c
the name and address of the auditor;
d
the provisions contained in section 15 (inspection of documents and questions at audit) and section 16 (right to make objections at audit) of the 1998 Act; and
e
the date appointed under regulation 21 for the exercise of rights of electors.
Notice of conclusion of audit16
As soon as reasonably possible after conclusion of an audit, a smaller relevant body must display a notice in a conspicuous place or places in the area of the body for a period of at least 14 days stating that the audit has been completed and that the relevant accounting statements required by these Regulations are available for inspection by local government electors on reasonable notice and including—
a
a statement of the rights conferred on local government electors by section 14 (inspection of statements of accounts and auditors’ reports) of the 1998 Act; and
b
details of the manner in which notice should be given of an intention to exercise the right of inspection.