Statementof responsibilities for the statement of accounts.docVIP

South East Wales Transport Alliance Joint Committee Statement of Accounts 2005/2006 Nigel Aurelius CPFA Chief Financial Officer July 2006  Contents Page Foreword 3 Statement of responsibilities for the statement of accounts 7 Statement on the system of internal control 8 Auditor’s report 11 Section one – our accounting policies 13 Section two – the main financial statements Revenue account 14 Balance sheet 15 Cash flow statement 16 Foreword The South East Wales Transport Alliance (SEWTA) was formally established as a joint committee during 2004/05. The members of the joint committee are the 10 local authorities in the South East Wales region. These are as follows: Blaenau Gwent Monmouthshire Bridgend Newport Caerphilly Rhondda Cynon Taff Cardiff Torfaen Merthyr Tydfil Vale of Glamorgan The core aim of the joint committee is to work for better co-ordinated and more effective transport for people and businesses in South East Wales. The functions of the Alliance include the preparation of regional strategies comprising transportation policies, proposals and programmes, together with applying for external funding in pursuit of those regional strategies (including formulating public transport capital and revenue programmes for that purpose). Prior to this there was a Shadow Transport Board, the finances of which were held within the Torfaen County Borough Council balance sheet. The legal agreement to establish the joint committee states that Torfaen County Borough Council will act as “Financial Host Authority” with the Chief Financial Officer being the Section 151 Officer and Treasurer to the Alliance. Whilst Newport City Council acts as the “Administrative Host Authority”. The information contained within the following accounts for 2005/2006 has been presented as simply and clearly as possible. This foreword attempts to explain some of the statements and sections included within this document