Agenda and draft minutes

Venue: Committee Room 1 - Deanes

Contact: Democratic Services Team 

Media

Items
No. Item

23/21

Apologies for absence and substitutions

Minutes:

Councillor P Miller was replaced by Councillor S Kotecha.

 

Councillor S Tom was replaced by Councillor J Tustain.

 

24/21

Declarations of interest

Minutes:

There were no declarations of interest.

 

25/21

Urgent matters

To consider any items of business, other than those shown on this agenda and which, by reason of special circumstances to be stated at the meeting, in the opinion of the Chairman, should be considered at the meeting as a matter of urgency.

 

Minutes:

The Chair informed the Committee that due to the lateness of the reports which were not published five clear working days before the meeting. He had agreed to take items 5 and 6 for the following reason:

 

The audit of the 2020/21 accounts was still ongoing and the Finance Teams and External Auditors were working at pace to complete the accounts audit and have the auditor’s opinion issued before the 30 September statutory sign off date.  In order to provide the very latest position on the accounts and the auditor’s report, there had been a delay in providing the reports to ensure that the latest up to date position could be reported.

26/21

Minutes of the meeting held on 26 July 2021 pdf icon PDF 214 KB

The Chair will move that the minutes of the meeting be signed as a correct record. The only part of the minutes that can be discussed is their accuracy.

Minutes:

The minutes of the meeting held on the 26 July 2021 were confirmed as a correct record and signed by the Chair.

27/21

EY Initial Audit Report Results (ISA260) Year ended 31 March 2021 pdf icon PDF 212 KB

Contact Officer: Sue Cuerden

This report is “to follow”

Additional documents:

Minutes:

Maria Grindley and Larisa Mildoni from EY introduced the report which presented the initial audit results report to the Committee for discussion.

 

The Committee discussed the report and made the following comments:

 

  • Requested that a glossary of terms be provided or that the report be simplified in the future to allow residents and new Committee members to easily understand the references made. The Executive Director for Corporate Services responded that a glossary had been included in the next report but that Officers would look to see if the terms mentioned in the report could be expanded in the covering report in the future.

 

  • Clarification was sought in relation to the references made in the report to level one, level two and level three investments.

 

  • In response to questions on the draft report, EY advised that the final report issued by the auditors after the accounts had been fully signed off was unlikely to differ much from the one included in the agenda pack. EY also advised that if any unexpected issues arose it would be reported back to committee but that this was not expected for the 2021 audit.

 

Resolved: The committee receives the report from the External Auditors,

EY, on the initial results of the audit of accounts for the year ended 31 March 2021.

 

28/21

Statement of Accounts for the year ended 31 March 2021 pdf icon PDF 441 KB

Contact Officer: Sue Cuerden

This report is “to follow”

 

Additional documents:

Minutes:

 

The Head of Financial Services and Commercialisation introduced the report which provided the Committee with the annual statement of accounts for approval.

 

The Committee discussed the report and made the following comments:

 

  • Questioned the purpose of the narrative statement as some members felt that it was a political statement. The Executive Director for Corporate Services advised that her part of the narrative statement was a statutory, factual Officer description of the Council’s financial position in her role as the S151 Officer.

 

  • Reference was made to the mention of the Culver Road planning application which was still in the consultation period and the impact to frontline services contained in the statement. The Executive Director Advised that Officers would review the sections to ensure that the wording was consistent.

 

  • Clarification was sought on the Councils services costs and income.

 

  • The Committee requested a breakdown of the Planning Infrastructure and Natural Environment figure of 12.3M.

 

  • Questioned the pension prepayment scheme. The Chair advised that the issue had been discussed at a previous Committee meeting.

 

 

Resolved: The Committee:

 

  • Approves the Statement of Accounts for the Year Ended 31 March 2021 as set out in Appendix 2.

 

  • Authority is delegated to the Chair of the Audit and Accounts Committee, in consultation with the Executive Director of Corporate Services (S151 Officer) to approve the Statement of Accounts for the year ended 31 March 2021 and is authorised to subsequently sign the statement of responsibilities to that effect.

 

 

29/21

Summary of Investment Income 2021/22 - Quarter 1 pdf icon PDF 298 KB

Contact Officer: Sue Cuerden

As requested by the committee, the following table provides a summary of investment income budgets for the year and the actual income received against those budgets as at the end of Quarter One 2021/22 (i.e. 30 June 2021).

Minutes:

The Head of Financial Services and Commercialisation introduced the report which provided the Committee with a summary of investment income budgets for the year and the actual income received against those budgets as at the end of Quarter One 2021/22 (30 June 2021).

 

Resolved: The Committee notes the report.

 

30/21

2021/22 Quarter 1 Treasury Management Report pdf icon PDF 798 KB

Contact Officer: Sue Cuerden

This report shows the activity within the council’s treasury management function from 1 April 2021 up to 30 June 2021.

Minutes:

The Head of Financial Services and Commercialisation introduced the report which provided the Committee with the activity within the council’s treasury management function from 1 April 2021 up to 30 June 2021.

 

There had been an overall increase of 0.5M in the Councils long term external investments since March 2021.

 

The Committee discussed the report and made the following comments:

 

  • Questioned whether there was scope for the council to take on more risk in relation to investments in the future. The Executive Director advised that the Council could only invest in line with the agreed treasury management strategy and that it was important to have a balanced portfolio.

 

  • Sought clarification on how often analysis of the funds available was carried out. The Executive Director responded that analysis was carried out monthly but that other higher return funds were much more volatile.

 

  • Made reference to the Councils previous strategies of Property Investment and Invest to grow which allowed the Council to make investment decisions more quickly. The Executive Director advised that the delegations to Officers would be reviewed to enable quicker decision making but that the Councils investment in property was at its limit

 

The Committee requested that it be recorded that the Committee felt that a review of the overall strategy and risk level would be useful.

 

Resolved: The Committee notes the report.

 

31/21

Internal Audit Progress Report (July-September 2021) pdf icon PDF 354 KB

Contact Officer: Richard Bevan

This report is to inform members of the Audit and Accounts Committee of the work completed by the Internal Audit Team during the period July to September 2021 and the current position with all audit recommendations.

Additional documents:

Minutes:

The Chief Internal Auditor Introduced the report which informed members of the Committee of the work completed by the Internal Audit Team during the period July to September 2021 and the current position with all audit recommendations.

 

The Committee discussed the report and made the following comments:

 

  • Sought clarification in relation to the number of outstanding recommendations. The Chief Internal Auditor advised that there was a monthly chaser process in place and that the parking recommendations had been referred to the new interim Executive Director, the IT recommendations had been passed to the new Head of IT and that the Business Continuity recommendations were still outstanding due to a current  recruitment process.

 

 

  • Questioned the process for the Community Infrastructure Levy (CIL) and the s106 audits. The Chief Internal Auditor described the process and confirmed that the results of the audits would hopefully be included in the update report at the next committee meeting.

 

 

Resolved: The Committee notes the report.

 

32/21

Review of the Corporate Risk Register pdf icon PDF 1 MB

Contact Officer Paul Gundry

This report is to present the Audit and Accounts committee with the current

status of the corporate risk register and the revised Risk Management Policy.

Minutes:

The Chief Internal Auditor Introduced the report which presented the committee with the current status of the corporate risk register and the revised Risk Management Policy.

 

In response to a question, The Chief Internal Auditor advised that if the current supply chain issues continued then it would be discussed during the next SLT review.

 

Resolved: The Committee

 

·         Notes the content of the report

 

·         Approves the changes to the Risk Management Policy

 

33/21

Viewing of Social Networking Sites pdf icon PDF 245 KB

Contact Officer: John Armstrong

This report provides Members of the Committee with a summary of the viewing of individuals’ social networking sites in an investigatory capacity for the period from 1 June 2021 to 31 August 2021.

Minutes:

The Chair introduced the report which provided the Committee with a summary of the viewing of individuals’ social networking sites in an investigatory capacity for the period from 1 June 2021 to 31 August 2021.

 

Resolved: The Committee notes the report.

 

34/21

Audit and Accounts work programme pdf icon PDF 85 KB

The Committee is asked to note and review it’s work programme.

Minutes:

The Chair introduced the work programme and gave a brief overview of the items that would be included on the agenda for the upcoming meetings.

 

The Head of Financial Services advised that the Quarter 2 Treasury Management and the Investment Income reports would also be included on the December agenda.