This report provides the Director of Finance’s assessment of the Council’s “Going Concern” status for the purpose of the Statement of Accounts 2020/21.

The Committee received a report on the Director of Finance’s assessment of the Council’s “Going Concern” status for the purpose of the Statement of Accounts 2020/21, which was that Reading Borough Council could continue to operate as a going concern for at least a period of 12 months from the date of signing the audit opinion, and accordingly would remain a going concern for the purpose of the 2020/21 Statement of Accounts.  The report stated that a number of considerations and detailed documents had been reviewed to confirm the Going Concern assessment, and the conclusion was included in the Executive Summary.  The report had attached the Draft Going Concern Disclosure Note for 2020/21 Statement of Accounts for the Committee’s information.

Resolved:       That the outcome of the Director of Finance’s assessment of the Council’s “Going Concern” status be noted, which found that Reading Borough Council could continue to operate as a going concern for at least a period of 12 months from the date of signing the audit opinion, and accordingly remained a going concern for the purpose of the 2020/21 Statement of Accounts.