Agenda and minutes

Governance Committee
Monday, 13th February, 2017 5.00 pm

Venue: Conference Room 3 - Civic Centre

Contact: Claire Heather, Senior Democratic Support Officer  023 8083 2412

Items
No. Item

28.

Minutes Of Previous Meeting (Including Matters Arising) pdf icon PDF 48 KB

To approve and sign as a correct record the Minutes of the meeting held on 12th December 2016and to deal with any matters arising, attached.

 

Minutes:

RESOLVED: that the minutes for the Committee meeting on 12th December 2016 be approved and signed as a correct record.

 

29.

Annual Governance Statement pdf icon PDF 75 KB

Report of the Chief Financial Officer seeking approval of the assurance gathering process to support the development of the 2016-17 Annual Governance Statement, attached.

Additional documents:

Minutes:

The Committee considered the Annual Governance Statement which in accordance with the Accounts and Audit Regulations the Council was required to develop and publish.  The Committee noted that the overall process remained unchanged, however there was revised CIPFA/Solace guidance which confirmed that authorities should nominate an individual or group of individuals within the authority who had appropriate knowledge and expertise and levels of seniority to identify a number of points as detailed in paragraph 10 of the report.  The Committee noted that the Council had in place a “Controls Assurance Management Group” comprising of the Section 151 Officer, Chair, Governance Committee, Monitoring Officer, Chief Strategy Officer and Chief Internal Auditor which were responsible for evaluating the assurances and supporting evidence provided and drafting the Annual Governance Statement.

 

RESOLVED: that the assurance gathering process to support the development of the 2016-17 Annual Governance Statement as detailed in appendix 1 of the report be approved. 

30.

PRUDENTIAL LIMITS AND TREASURY MANAGEMENT STRATEGY 2017/18 TO 2020/21 pdf icon PDF 275 KB

Report of the Council’s Chief Financial Officer detailing the context within which the Council's treasury management activity operates and setting out a proposed strategy for 2017/18 to 2020/21, attached.

 

Additional documents:

Minutes:

The Committee considered the report of the Service Director Finance and Commercialisation detailing the Treasury Management Strategy and Prudential Limits 2017/18 to 2020/21.  The Committee noted the context within which the Council’s treasury management activity operated and the proposed strategy for the coming year in relation to the Council’s cash flow, investment and borrowing and the management of the numerous risks related to the activity.

 

The Committee noted that the Treasury Management Strategy and Prudential Limits 2017/18 to 2020/21 was subject to the Local Government Settlement which was delayed this year and would be after Cabinet and Council Budget setting meetings.

 

RESOLVED:

(i)  That the Treasury Management Strategy for 2017/18 as outlined in the report be endorsed;

(ii)  That the 2017 Minimum Revenue Provision Statement as detailed in paragraphs 76 to 84 of the report be endorsed;

(iii)  That it be noted that the indicators as reported had been set on the assumption that the recommendations in the Capital update report would be approved by Council on 15th February 2017; should the recommendations change the Prudential Indicators may have to be recalculated; and

(iv)  That it be noted that due to timing of this report, changes may still be required following the finalisation of capital and revenue budgets and therefore any significant changes to this report would be highlighted in the final version that was presented to Full Council.

31.

Risk Management Development Plan pdf icon PDF 69 KB

Report of the Chief Financial Officer outlining the planned actions in order to further develop and embed risk management as a key business process, attached.

Additional documents:

Minutes:

The Committee received and noted the report of the Service Director Finance and Commercialisation detailing the Risk Management Policy 2017/18 – 2020/21 and Development Plan.  The Committee noted that the Council’s Risk Management Policy had been reviewed and updated to ensure that it remained aligned with good practice and reflected the “business need” and provided an overview of the operating framework, arrangements and responsibilities for managing risk within the Council.

 

 

32.

External Audit - Audit Plan pdf icon PDF 60 KB

Report of External Auditor detailing the External Audit Plan for year ending 31st March 2017, attached.

Additional documents:

Minutes:

The Committee received and noted the report of the External Auditor detailing the External Audit Plan Year Ending 31st March 2017.  The Committee noted that the External Auditor’s Plan set out how they would carry out their responsibilities and provide the Governance Committee with a basis to review the external auditors proposed scope and audit approach for 2016/17.  The Committee also noted that the plan summarised the external auditor’s initial assessment of the key risks driving the development of an effective audit for the Council and outlined their planned audit strategy in response to those risks.