Agenda, decisions and draft minutes

Audit Committee
Thursday 31st January 2019 10.00 am

Venue: Library Meeting Room, Taunton Library

Contact: Neil Milne on 01823 359045  Email: ndmilne@somerset.gov.uk

Items
No. Item

97.

Declarations of Interest

Details of all Members’ interests in District, Town and Parish Councils will be displayed in the meeting room. The Statutory Register of Member’s Interests can be inspected via the Community Governance team.

 

The Chair of the Committee will ask for any other declarations.

Decision:

In respect of agenda item 11, Cllr Verdon declared a personal interest as she held a contract with Grant Thornton.

Minutes:

In respect of agenda item 11, Cllr Verdon declared a personal interest as she held a contract with Grant Thornton.

98.

Minutes from the last meeting pdf icon PDF 107 KB

The Chair of the Committee will ask for confirmation that the attached minutes are an accurate record of the last meeting.

Decision:

The Committee agreed that the minutes of the meeting, held on 22 November 2018 were accurate, and the Chair of the Committee signed them.

Minutes:

The Committee agreed that the minutes of the meeting, held on 22 November 2018 were accurate, and the Chair of the Committee signed them.

99.

Public Question Time pdf icon PDF 189 KB

The Chair of the Committee will allow members of the public, who have registered, to ask a question/s and/or make a statement/s about any matter on the agenda for this meeting. Each member of the public that has registered to speak is allocated 3 minutes.  

At the Chair’s discretion, questions and statements from the public may be taken during the meeting, when the relevant agenda item is considered. 

Decision:

The Chair noted that a member of the public had registered to speak regarding agenda items 11 and 14 and she invited Mr Nigel Behan to speak.

 

He noted that in the Value for Money Arrangements it is stated:

“In particular the greater focus on clear and timely budget monitoring,  ...  view the full decision text for item 99.

Minutes:

The Chair noted that a member of the public had registered to speak regarding agenda items 11 and 14 and she invited Mr Nigel Behan to speak.

 

He noted that in the Value for Money Arrangements it is stated:

“In particular the greater focus on clear and timely budget monitoring,  ...  view the full minutes text for item 99.

100.

Section 106 Review update pdf icon PDF 55 KB

To consider this report.

Additional documents:

Decision:

The Committee considered this report that provided a further update on progress made to implement recommendations following a partial audit opinion in 2016. It was also noted that a follow up audit was due to commence to check on how the new processes and systems were operating and the results  ...  view the full decision text for item 100.

Minutes:

The Committee considered this report that provided a further update on progress made to implement recommendations following a partial audit opinion in 2016. It was also noted that a follow up audit was due to commence to check on how the new processes and systems were operating and the results  ...  view the full minutes text for item 100.

101.

Partial Audit Update - Strategic Asset Management pdf icon PDF 87 KB

To consider this report.

Additional documents:

Decision:

The Committee considered this report, introduced by the Head of Corporate Property, that provided details of a follow up audit to review progress made on recommendations arising from a partial audit. It was noted that good progress had been made and attention was directed to Appendix 1 of the report  ...  view the full decision text for item 101.

Minutes:

The Committee considered this report, introduced by the Head of Corporate Property, that provided details of a follow up audit to review progress made on recommendations arising from a partial audit. It was noted that good progress had been made and attention was directed to Appendix 1 of the report  ...  view the full minutes text for item 101.

102.

Internal Audit Report - Healthy Organisation pdf icon PDF 101 KB

To consider this report.

Additional documents:

Decision:

The Committee considered this report that explained that the Healthy Organisation review was a strategic governance review of the key corporate areas of the Council including finance, performance and governance. The report provided details of the progress made since the first undertaken in 2017/17.

 

Members discussed the report asking questions  ...  view the full decision text for item 102.

Minutes:

The Committee considered this report that explained that the Healthy Organisation review was a strategic governance review of the key corporate areas of the Council including finance, performance and governance. The report provided details of the progress made since the first undertaken in 2017/17.

 

Members discussed the report asking questions  ...  view the full minutes text for item 102.

103.

Treasury Management Strategy pdf icon PDF 146 KB

To consider this report.

Additional documents:

Decision:

The Committee considered this report about the Treasury Management Strategy (TMS) that provided details of the Council’s treasury management activities to achieve its business and service objectives and maintain its financial reputation. This concerned the management of the Council’s cash flows, borrowing and treasury investments and associated risks.

 

It was  ...  view the full decision text for item 103.

Minutes:

The Committee considered this report about the Treasury Management Strategy (TMS) that provided details of the Council’s treasury management activities to achieve its business and service objectives and maintain its financial reputation. This concerned the management of the Council’s cash flows, borrowing and treasury investments and associated risks.

 

It was  ...  view the full minutes text for item 103.

104.

Capital Strategy pdf icon PDF 50 KB

To consider this report.

Additional documents:

Decision:

The Committee considered this report that set out the Council’s proposed Capital Strategy provided an overview of Capital Expenditure, Capital Financing and Treasury Management. It also contained details of a non-Treasury investment proposal, designed to produce a positive net revenue income stream for the Council.

 

It was explained that reporting  ...  view the full decision text for item 104.

Minutes:

The Committee considered this report that set out the Council’s proposed Capital Strategy provided an overview of Capital Expenditure, Capital Financing and Treasury Management. It also contained details of a non-Treasury investment proposal, designed to produce a positive net revenue income stream for the Council.

 

It was explained that reporting  ...  view the full minutes text for item 104.

105.

Minimum Revenue Provision (MRP) pdf icon PDF 47 KB

To consider this report.

Additional documents:

Decision:

The Committee considered this report that set out details of how the Council planned to finance capital expenditure by debt and how it would repay that debt in later years. It was noted that the amount charged to the revenue budget for the repayment of debt was known as Minimum  ...  view the full decision text for item 105.

Minutes:

The Committee considered this report that set out details of how the Council planned to finance capital expenditure by debt and how it would repay that debt in later years. It was noted that the amount charged to the revenue budget for the repayment of debt was known as Minimum  ...  view the full minutes text for item 105.

106.

External Audit Plan pdf icon PDF 339 KB

To consider this report.

Additional documents:

Decision:

The Committee considered an audit progress report and sector update from the Council’s external auditors Grant Thornton introduced by the Engagement Lead. Members were reminded that the Council’s financial statements had received an unqualified opinion and the value for money conclusion had received an adverse opinion.

 

It was reported that  ...  view the full decision text for item 106.

Minutes:

The Committee considered an audit progress report and sector update from the Council’s external auditors Grant Thornton introduced by the Engagement Lead. Members were reminded that the Council’s financial statements had received an unqualified opinion and the value for money conclusion had received an adverse opinion.

 

It was reported that  ...  view the full minutes text for item 106.

107.

Value For Money tracker pdf icon PDF 53 KB

To consider this report.

Additional documents:

Decision:

The Committee considered this report that provided details of the value for money tracker, first considered by the Committee at its meeting last September, following recommendations from the Council’s External Auditors on how to improve both budget monitoring and setting.

 

It was reported that following the 7 recommendations made by  ...  view the full decision text for item 107.

Minutes:

The Committee considered this report that provided details of the value for money tracker, first considered by the Committee at its meeting last September, following recommendations from the Council’s External Auditors on how to improve both budget monitoring and setting.

 

It was reported that following the 7 recommendations made by  ...  view the full minutes text for item 107.

108.

Risk Management pdf icon PDF 92 KB

To consider this report.

Additional documents:

Decision:

The Committee considered this report, introduced by the Council’s Risk Manager, that provided details of the latest position of each of the 11 identified strategic risks to the Council achieving its objectives.

 

There was a discussion of the report, particularly Appendix A the Strategic Risk Report, with the Risk Manager  ...  view the full decision text for item 108.

Minutes:

The Committee considered this report, introduced by the Council’s Risk Manager, that provided details of the latest position of each of the 11 identified strategic risks to the Council achieving its objectives.

 

There was a discussion of the report, particularly Appendix A the Strategic Risk Report, with the Risk Manager  ...  view the full minutes text for item 108.

109.

Internal Audit Update pdf icon PDF 1 MB

To consider this report.

Decision:

The Committee considered this report, introduced by the Assistant Director of the South West Audit Partnership (SWAP), that provided a thorough overview and general update of the progress made against the 2018/19 Audit Plan. It was noted that no significant corporate risk had been identified and no partial opinion reports  ...  view the full decision text for item 109.

Minutes:

The Committee considered this report, introduced by the Assistant Director of the South West Audit Partnership (SWAP), that provided a thorough overview and general update of the progress made against the 2018/19 Audit Plan. It was noted that no significant corporate risk had been identified and no partial opinion reports  ...  view the full minutes text for item 109.

110.

Debtor Management pdf icon PDF 240 KB

To consider this report.

Decision:

The Committee considered this report that provided information on the latest debt position and performance to help maintain effective financial control.

 

Members attention turned to the report that provided details on the recovery of outstanding debts and it was reported that as at 31 December the total net outstanding on  ...  view the full decision text for item 110.

Minutes:

The Committee considered this report that provided information on the latest debt position and performance to help maintain effective financial control.

 

Members attention turned to the report that provided details on the recovery of outstanding debts and it was reported that as at 31 December the total net outstanding on  ...  view the full minutes text for item 110.

111.

Anti-Fraud and Corruption Report pdf icon PDF 223 KB

To consider this report.

Additional documents:

Decision:

The Committee considered and discussed this report that provided information following the annual review of all the measures being undertaken across the Council aimed at prevention, detection and reporting of fraud and corruption.

 

Members noted that anti-fraud and corruption work formed an important part of the Council’s corporate governance and  ...  view the full decision text for item 111.

Minutes:

The Committee considered and discussed this report that provided information following the annual review of all the measures being undertaken across the Council aimed at prevention, detection and reporting of fraud and corruption.

 

Members noted that anti-fraud and corruption work formed an important part of the Council’s corporate governance and  ...  view the full minutes text for item 111.

112.

Committee Future Workplan pdf icon PDF 51 KB

To consider this report

Additional documents:

Decision:

The Committee noted the report that listed future agenda items and reports for the next 2 meetings (28 March and 20 June) of 2019. There were 7 and 8 reports respectively, scheduled for those meetings.

 

There was a brief discussion about the number of reports on the agenda for this  ...  view the full decision text for item 112.

Minutes:

The Committee noted the report that listed future agenda items and reports for the next 2 meetings (28 March and 20 June) of 2019. There were 7 and 8 reports respectively, scheduled for those meetings.

 

There was a brief discussion about the number of reports on the agenda for this  ...  view the full minutes text for item 112.

113.

Any other urgent items of business

The Chair of the Committee may raise any items of urgent business.

Decision:

The Chair, after ascertaining there were no other items of business,

thanked all those present for attending and closed the meeting at 13:31.

Minutes:

The Chair, after ascertaining there were no other items of business, thanked all those present for attending and closed the meeting at 13:26.