Agenda, decisions and minutes

There were no declarations of interest.

There were no petitions or requests to address the meeting.

There was no urgent business.

To confirm as a correct record the Minutes of the meetings of the Committee held on 26 March 2014 and 16 June 2014

The Minutes of the meetings of the Committee held on 26 March 2014 and 16 June 2014 were agreed as correct records and signed by the Chairman.

To receive communications from the Chairman.

There were no announcements from the Chairman.

Report of Interim Head of Finance and Procurement

Purpose of report

To receive Ernst Young’s Audit Fee Letter 2014-15 and to receive a verbal update of progress to date for 2013-14.

Recommendations

The meeting is recommended

1.1       To note the Audit Fee Letter and the progress update from Ernst Young.

Resolved

(1)            That the Audit Fee Letter and the progress update from Ernst Young  be noted.

The Committee considered a report of the Head of Finance and Procurement on the External Auditors’ annual audit fee letter for 2014/15 and an update on the work undertaken by external audit.

In presenting the report the External Auditor confirmed the fee for 2014-15 remained as agreed within the Audit Commission’s fee scales.

The Committee was informed that the audit of the statutory accounts would begin the week commencing 30 June 2014.

Resolved

(1)            That the Audit Fee Letter and the progress update from Ernst Young  be noted.

Report of Interim Head of Finance and Procurement

Purpose of report

To receive the PwC Internal Audit Annual Report.

Recommendations

The meeting is recommended:

1.1       To consider and note the contents of the Annual Report.

Resolved

(1)            That the Internal Audit Annual Report 2013-14  be noted.

The Committee considered a report of the Head of Finance and Procurement on the Internal Audit Annual report 2013/14.

In introducing the report, the Chief Internal Auditor advised the committee that the 24 internal  audit reviews had be completed which had resulted in  the identification of 16 moderate and 38 low risk rated findings. The Chief Internal Auditor advised the committee that this was a positive annual report for the Council.

The Internal Auditor reported that during 2013/14 5 days had been assigned to follow up work to assess whether actions in response to recommendations raised during 2012/13 had been implemented. The Committee was advised that a number of issues had been re-raised during 2013/14 and that failure to implement actions and ensure issues were not raised again would be flagged in the 2014-15 Annual Report.

Resolved

(1)            That the Internal Audit Annual Report 2013-14 be noted.

Report of Head of Transformation and Corporate Performance Manager

Purpose of Report

To update the Committee on the management of Strategic, Corporate and Partnership Risks during the final quarter of 2013/14 and highlight any emerging issues for consideration.

Recommendations

The meeting is recommended:

1.1       To review the Quarter 4 Strategic, Corporate and Partnership Risk Register and identify any issues for further consideration.

Resolved

(1)            That the quarter 4 Strategic, Corporate and Partnership Risk Register be noted.

(2)      That officers be requested to give consideration of the inclusion of Graven Hill on the risk register.

The Committee considered a report of the Head of Transformation and Corporate Performance Manager on the management of Strategic, Corporate and Partnership Risks during the final quarter of 2013/14.

In introducing the report, the Interim Head of Finance and Procurement advised the Committee that the Risk Register 2014/15 was currently being worked on and would be completed by the end of June.

The Committee agreed that due to the high values and complexity of the project, consideration should be given to placing the Graven Hill project on the Risk Register.

Resolved

(1)            That the quarter 4 Strategic, Corporate and Partnership Risk Register be noted.

(2)      That officers be requested to give consideration of the inclusion of Graven Hill on the risk register.

Verbal Update of Interim Head of Finance and Procurement

Resolved

(1)            That the verbal update be noted.

The Interim Head of Finance and Procurement gave a verbal update on Anti-Fraud and Corruption plus Whistle Blowing.

The Committee was informed that there were no issues to bring to their attention.

Resolved

(1)            That the verbal update be noted.

** Please note that Appendix 1 to this report will follow as it is currently being finalised **

Report of Interim Head of Finance and Procurement

Purpose of report

The purpose of this report is to seek approval for the Annual Governance Statement 2013-14, subject to any amendments the Accounts, Audit and Risk Committee may wish to make.

Recommendations

The meeting is recommended:

1.1         To consider and approve the Annual Governance Statement 2013-14 (Appendix 1).

Resolved

(1)            That the Annual Governance Statement 2013/14 be approved.

The Committee considered a report of the Interim Head of Finance and Procurement which sought approval of the Annual Governance Statement 2013-14.

Resolved

(1)            That the Annual Governance Statement 2013/14 be approved.

Report of Interim Head of Finance and Procurement

Purpose of report

To receive information on the proposed amendments of the existing Treasury Strategy for 2014-15 required to facilitate the proposals for the development of the Graven Hill and other projects. This is subject to any amendments the Accounts, Audit and Risk Committee may wish to make.          

Recommendations

The meeting is recommended:

1.1         To consider and note the proposed amendments to the existing Treasury Strategy for 2014-15.

1.2         To note the proposal to provide delegated authority to the Director of Resources in the application of Minimum Revenue Provision (MRP).

Resolved

(1)            That the proposed amendments to the existing Treasury Strategy for 2014/15 be noted.

(2)            That the proposal to provide delegated authority to the Director of Resources in the application of Minimum Revenue Provision (MRP) be noted.

The Committee considered a report of the Interim Head of Finance and Procurement on the proposed amendments to the existing Treasury Strategy for 2014-15 which were required to facilitate the proposals for the development of the Graven Hill and other projects.

The Committee was advised that the amended Treasury Strategy would be submitted to full Council in July for approval.

Resolved

(1)            That the proposed amendments to the existing Treasury Strategy for 2014/15 be noted.

(2)            That the proposal to provide delegated authority to the Director of Resources in the application of Minimum Revenue Provision (MRP) be noted.

Report of Interim Head of Finance and Procurement

Purpose of report

To consider and endorse the Statement of Accounts for 2013-14 (subject to audit).

Recommendations

The meeting is recommended to:

1.1         Consider the Statement of Accounts set out in Appendix 1.

1.2         Note the outcomes from the informal review undertaken on 25 June immediately prior to the formal meeting at 6.30pm which will be updated verbally at the meeting.

1.3         Recommend that the “subject to audit” Statement of Accounts sign off be delegated to the Chief Financial Officer for signing on or before the 30 June 2014.

1.4         Note the arrangements under paragraphs 3.3 and 3.4 for the budget carry forward and capital slippage requests to Full Council in July.

1.5         Recommend to Full Council that paragraph 2.4.6 of the Council’s Financial Procedure Rules is amended as set out in paragraph 3.5 of this report.

Resolved

(1)      That the Statement of Accounts be noted.

(2)      That the outcomes of the informal review undertaken on 25 June be noted.

(3)      That it be agreed that the sign off of the “subject to Audit” Statement of Accounts be delegated to the Chief Financial Officer for signing on or before the 30 June 2014.

(4)      That the arrangements for the budget carry forward and capital slippage requests to be submitted to Full Council in July be noted.

(5)      That Full Council be recommended to agree an amendment to paragraph 2.4.6 of the Council’s Financial Procedure Rules Council’s Financial Procedure whereby relevant carry forward requests require the approval of the Accounts, Audit and Risk Committee rather than Council.

The Committee considered a report of the Interim Head of Finance and Procurement which sought consideration and endorsement of the Statement of Accounts for 2013-14 (subject to audit).

The Corporate Finance Manager reported that the informal review meeting, held prior to this meeting had considered the Statement of Accounts in details and recommended minor updates to the report which would be incorporated in the final version.

The Committee thanked the Interim Head of Finance and Procurement and the finance team for their hard work in producing the accounts.

Resolved

(1)      That the Statement of Accounts be noted.

(2)      That the outcomes of the informal review undertaken on 25 June be noted.

(3)      That it be agreed that the sign off of the “subject to Audit” Statement of Accounts be delegated to the Chief Financial Officer for signing on or before the 30 June 2014.

(4)      That the arrangements for the budget carry forward and capital slippage requests to be submitted to Full Council in July be noted.

(5)      That Full Council be recommended to agree an amendment to paragraph 2.4.6 of the Council’s Financial Procedure Rules whereby relevant carry forward requests require the approval of the Accounts, Audit and Risk Committee rather than Council.

Report of Director of Resources

Purpose of report

To consider the Public Interest Report that was issued by KPMG in relation to “Managing Capital Regeneration Projects” at Corby Borough Council using the report to critically appraise arrangements at Cherwell District Council.

Recommendations

The meeting is recommended to:

 1.1        Note the content of the KPMG report on arrangements at Corby Borough Council included as Appendix A.

1.2         Consider the content of this report.

Resolved

(1)            That the report be noted.

The Committee considered a report of Director of Resources on the Public Interest Report that was issued by KPMG in relation to “Managing Capital Regeneration Projects” at Corby Borough Council using the report to critically appraise arrangements at Cherwell District Council.

Resolved

(1)            That the report be noted.

Report of Interim Head of Finance and Procurement

Purpose of report

This report summarises the work of the Accounts, Audit and Risk Committee during 2013-14.

Recommendations

The meeting is recommended:

1.1         To note the contents of this report.

Resolved

(1)            That, subject to the inclusion of training attendance details, the report be noted.

The Committee considered a report of the Interim Head of Finance and Procurement summarising the work of the Accounts, Audit and Risk Committee during 2013-14.

Resolved

(1)            That, subject to the inclusion of attendance details, the report be noted.

To consider the Committee’s Work Programme

Resolved

(1)        That the work programme 2014-15 be noted.

(2)        That Officers be requested to add training sessions at appropriate times for Committee members.

The Committee considered its Work Programme 2014-15.

Resolved

(1)        That the work programme 2014-15 be noted.

(2)        That Officers be requested to add training sessions at appropriate times for Committee members.

The following item contains exempt information as defined in the following paragraphs of Part 1, Schedule 12A of the Local Government Act 1972.

3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information).

Members are reminded that whilst the following item has been marked as exempt, it is for the meeting to decide whether or not to consider each of them in private or in public. In making the decision, members should balance the interests of individuals or the Council itself in having access to the information. In considering their discretion members should also be mindful of the advice of Council Officers. Should Members decide not to make a decision in public, they are recommended to pass the following recommendation:

“That, in accordance with Section 100A(4) of Local Government Act 1972, the press and public be excluded from the meeting for the following items of business, on the grounds that they could involve the likely disclosure of exempt information as defined in paragraph 3 of Part 1, Schedule 12A of that Act.”

Resolved

That, in accordance with Section 100A(4) of Local Government Act 1972, the press and public be excluded from the meeting for the following items of business, on the grounds that they could involve the likely disclosure of exempt information as defined in paragraph 3 of Part 1, Schedule 12A of that Act .

** Please note that this report will follow as the information is currently being reviewed and finalised **

Exempt Report of Interim Head of Finance and Procurement

Resolved

(1)            That the report be noted.

The Committee considered a report of the Interim Head of Finance and Procurement informing members of the issues arising with the annual billing process for Council Tax.

Resolved

(1)            That the report be noted.