Responding to COVID-19: insight, support and guidance

Guidance on accounting for coronavirus grants

13-05-2021

LASAAC have produced this guidance and addendum to inform local government finance practitioners on the accounting and disclosure considerations for Scottish government coronavirus grant funding. The accounting considerations will be required for transactions in the 2020/21 financial year.

The document looks at the wide range of grants and supports available to councils and integration joint boards and provides guidance in determining whether these are accounted for on a principal or agent basis under the code.

The appropriate disclosures are important in providing stakeholders clear explanation of what grants and supports have been received in the year and how those resources have been distributed. This guidance makes clear the expectations that LASAAC has in regard to appropriate narrative in the management commentary explaining the council's role in distributing COVID-19 resources.

Guidance on Accounting for Coronavirus Grants v5.4

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