Agenda and minutes

No declarations of interest were made.

RESOLVED

that the minutes of the meeting of the Committee held on 30^th September, 2019, be received and approved as a correct record.

The Council’s Chief Accountant presented a mid-year 2019/20 Treasury Management report to Members in accordance with the requirements of the Chartered Institute of Public Finance and Accountancy (CIPFA) Treasury Management Code of Practice.

The update covered the following:-

·         An economic update for the 2019/20 financial year as at 30th September, 2019;

·         The Council’s capital position (prudential indicators);

·         The Council’s investment portfolio for 2019/20;

·         The Council’s borrowing position for 2019/20.

RESOLVED that

a)    the Treasury Management mid-year report, as presented, be received and noted;

b)    Cabinet be recommended to approve the changes to the 2019/20 Prudential Indicators for the Capital Financing Requirement, the Operational Boundary and the Authorised Limit to reflect the impact of in-year changes to the 2019/20 Capital Programme.

The Service Manager, Corporate Services and Transformation presented the Corporate Risk Register to the Committee and outlined the framework used to identify and assess risk, how risk was monitored at a corporate level and the process for examining the Council’s risk appetite as required.

Members’ acknowledged the proposed changes to the Corporate Risk Strategy, following recommendations from an internal audit review in 2018, which were considered appropriate in order to facilitate greater understanding of risk maturity and improved organisational performance against the Alarm national performance model for risk management in public services.

Members took the opportunity to consider elements of the Risk Register including the addition of new corporate risks and the current significant risks as highlighted.  Committee also discussed updates in relation to the 5 recommendations arising from the Risk internal audit review undertaken during 2018.

RESOLVED that

a)    the Corporate Risk Register and progress against current corporate risks including significant items, as presented, be received and noted;

b)    the proposed changes to the Corporate Risk Strategy be also noted and endorsed prior to Cabinet approval being duly sought.

Mandy Marples, CMAP’s Audit Manager, presented the report and summarised audit progress as at 16^th December, 2019 with 6 assignments having reached their conclusion during the period.

Members were advised that of the 6 completed assignments, the Door Access Control review had resulted in a limited assurance with 8 actions being agreed by management to be implemented without delay.  In relation to the Procurement review, 4 actions had been agreed by management and it had been decided that CMAP would allocate days to enable the review to be revisited as part of the 2020/21 Audit Plan.

Members took the opportunity to ask questions concerning the outstanding moderate and low risk recommendations and what actions were being taken by management to escalate and address the issues to ensure compliance as necessary.

RESOLVED

that audit assignment progress as at 16^th December, 2019, as presented to Committee, be received and noted.

A Member of the Cabinet is asked to move:-

“That in accordance with the provisions of Section 100A of the Local

Government Act 1972, the press and public be now excluded from the

meeting during the following item of business on the grounds that

it involves the likely disclosure of exempt information as defined in

paragraphs 3 and 5 of part 1 of Schedule 12A of the Act and in

respect of which the Proper Officer considers the public interest in

maintaining the exemption outweighs the public interest in disclosing

the information.”

RESOLVED

that in accordance with the provisions of Section 100A of the Local Government Act 1972, the press and public be now excluded from the meeting during the following item of business on the grounds that it involves the likely disclosure of exempt information as defined in paragraphs 3 and 5 of Part 1 of Schedule 12A of the Act and in respect of which the Proper Officer considers the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

The meeting adjourned at 11.53am and reconvened at 12.00 noon.

The Council’s Service Manager, Commercial Development gave Members an update in relation to the content and movement of the Council’s investment property portfolio during quarter 2 of the 2019/20 financial year.

RESOLVED

that performance in relation to the Council’s investment property portfolio, as presented, be received and noted.