Agenda, decisions and minutes

11. Parish Councils Grant for Council Tax Reduction Scheme.

Councillor Barry Richards, Non Statutory Interest, as a member of Banbury Town Council.

Councillor Mike Kerford-Byrnes, Non Statutory Interest, as Chairman of Finmere Parish Council

Councillor Nicholas Mawer, Non Statutory Interest, as a member of Bicester Town Council

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 meeting of the Committee held on 3 December 2014.

The Minutes of the meeting of the Committee held on 3 December 2014 were agreed as a correct record and signed by the Chairman.

To receive communications from the Chairman.

There were no Chairman’s announcements.

Verbal Update of External Auditors, Ernst Young

Resolved

(1)       That the verbal update be noted.

The Director, Ernst and Young, gave a verbal update on external audit informing members that there were no significant issues to report and providing an overview of the future areas External Audit would focus their audit plan on; group accounts for Graven Hill, the Council’s capital programme, further joint working and the new financial management system.

Resolved

(1)       That the verbal update be noted.

Verbal Update of Internal Auditor, PriceWaterhouseCoopers

Resolved

(1)          That the verbal update be noted.

The manager PricewaterhouseCoopers, gave a verbal update on internal audit. The Committee was advised that financial systems work had been completed and were in the review process and there were no significant issues to report. Work on scoping and finalising the joint working and IT reviews was underway.

Resolved

(1)          That the verbal update be noted.

Report of the Director of Resources

Purpose of report

To endorse the Council’s Money Laundering Avoidance Policy.

Recommendation

1.1      The meeting is recommended to endorse the Money Laundering Avoidance Policy.            

Resolved

(1)          That the Money Laundering Avoidance Policy be endorsed.

The Committee considered the report of the Director of Resources requesting endorsement of the Council’s Money Laundering Avoidance Policy.

The Committee was advised that all staff working in areas more susceptible to this issue had received training on money laundering and the policy. Training on whistle blowing, money laundering and risk would be incorporated into the induction training for new staff.

Anti Fraud and Corruption update: the Head of Finance & Procurement explained that written reports would be submitted to the Committee in future as requested. At the next meeting in March, this update would be linked to the report on the new Corporate Fraud Team arrangements. The work programme for March also includes an update to the Whistle Blowing policy and Anti Fraud and Corruption Strategy.

Resolved

(1)          That the Money Laundering Avoidance Policy be endorsed.

** Please note that Appendix 2 to this report will follow as it is are currently being finalised **

Report of the Head of Finance and Procurement

Purpose of report

To receive information on treasury management performance and compliance with treasury management policy for 2014-15 for Quarter 3 ending 31 December 2014 as required by the Treasury Management Code of Practice.

To submit the draft Treasury Management Strategy Statement for 2015-16.

Recommendations

The meeting is recommended:

1.1       To note the contents of the Quarter 3 (Q3) Treasury Report

1.2      To note and comment on the draft Treasury Management Strategy 2015-16.

Resolved

(1)          That the contents of the Quarter 3 (Q3) Treasury Report be noted

(2)          That the draft Treasury Management Strategy 2015-16 be noted

The Committee considered a report of the Head of Finance and Procurement on treasury management performance and compliance with treasury management policy for 2014-15 for Quarter 3 ending 31 December 2014 as required by the Treasury Management Code of Practice.

In response to Members’ comments, the Head of Finance and Procurement confirmed that officers continue to liaise with Capita Asset Services to ensure that the most up to-date advice was used in the Treasury Management Strategy.

Resolved

(1)          That the contents of the Quarter 3 (Q3) Treasury Report be noted

(2)          That the draft Treasury Management Strategy 2015-16 be noted

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

Resolved

(1)          That the report be noted.

The Committee considered the report of the Director of Resources on the Parish Councils Council Tax Reduction Scheme.

The Head of Finance and Procurement explained that Parish councils received their annual letter regarding Parish Precepts and their grant for Council Tax Reduction Scheme (CTRS) on 18 December 2014.  It subsequently came to light that calculations for the Grant for CTRS were not correct.  The grants calculated and notified for 2015-16 had not followed the same principle as previous years and therefore needed to be amended.  A revised letter was sent to all parish councils on 9 January 2015, offering assistance if required. The Head of Finance and Procurement confirmed that a number of Parishes had already been in contact.

Resolved

(1)          That the report be noted.

Resolved

(1)          That the work programme be noted, subject to the addition of New Corporate Fraud Team arrangements together with the and Annual Review of Fraud and Corruption Strategy to March

The Committee considered its work programme 2014/15.

Resolved

(1)          That the work programme be noted, subject to the addition of New Corporate Fraud Team arrangements together with the and Annual Review of Fraud and Corruption Strategy to March

The Chairman advised the Committee that this was the Corporate Finance Manager’s last meeting as she would be leaving the authority in March 2015.

The Committee thanked the Corporate Finance Manager for her hard work and support to the Committee and wished her every success in the future.