PrintLocal Authority (Scotland) Accounts Advisory Committee (LASAAC)
Authorised for Issue
LASAAC has now confirmed what arrangements should be in place for determining the authorised for issue date for the financial statements of Scotland's local authorities. Advice is contained in a short but practical guidance note which can be downloaded from here.
LASAAC Draft Minutes 16 June 2008
The draft minutes from LASAAC's meeting on 16 June 2008 are now available. The minutes have not yet been certified as an accurate record. They will be submitted for approval to the next LASAAC meeting on 8 September 2008. The draft minutes are available for download here.
Consultation Exercise on the Scottish Service Expenditure Analysis
The Service Expenditure Analysis (SEA) is used in local authority financial reporting to ensure that, for example, what one authority refers to as 'Education' in its financial statements should be the same as another authority, irrespective of what operational and management structures each authority uses to provide the service.
CIPFA, on behalf of the Local Authority (Scotland) Accounts Advisory Committee (LASAAC), is seeking views on changes to the current SEA to ensure that it remains relevant and useful. Specific proposals are made in respect of Housing, Environmental Services (Waste services), Planning & Development Services (Community Development) and Social Work. All comments, regardless of service affected, are welcome.
Responses are invited by 8 August 2008. Please send these, preferably by email to: gareth.davies@cipfa.org or Gareth Davies, CIPFA in Scotland, Fettes Park, Second Floor, West Wing, 496 Ferry Road, Edinburgh EH5 2DL
Download: Scottish Service Expenditure Analysis Consultation Paper (word)
In order to allow respondents to compare the Scottish SEA with the structure for England, Wales and Northern Ireland the following excel files can also be downloaded :
Download: Summary of Existing Scottish SEA (excel)
Download: Summary of England & Wales SEA (excel)
Download: Summary of Northern Ireland SEA (excel)
LASAAC Annual Report
At the meeting held on June 16th 2008, LASAAC launched the annual report for 2007/08. The report is being sent to all stakeholders in Scotland. You can read the report here. The full draft minutes for the meeting will be available on the website later this week.
Financial Instruments 2007/08 - Example Accounting Entries
CIPFA in Scotland have prepared example accounting entries for common situations arising from the financial instrument requirements in the SORP 2007 and the statutory guidance in Finance Circular 4/2007. This paper has not been reviewed or endorsed by LASAAC but is shown here to assist practitioners. To download the paper pleaseclick here.
Any feedback on the paper is welcomed. Please contact Gareth at gareth.davies@cipfa.org or call 0131 559 3604
Accounting for the Common Good
LASAAC has now released the final guidance on accounting for the common good. The guidance, entitled Accounting for the Common Good: A Guidance Note for Practitioners was the subject of an successful initial consultation with a wide range of stakeholders. The guidance sets out consistent and modern financial reporting requirements as well as prescribing, for the first time, the formal requirement for asset registers. To download this document please click here.
Technical FAQ's
CIPFA in Scotland has launched a technical FAQ section on the website. The service, dedicated to Scotland, provides a range of model answers to technical questions. This new service, enables practitioners to speedily access technical accounting advice. Click here to view the new section.