Agenda, decisions and minutes

There were no declarations of interest.

There were not petitions or requests to address the meeting.

There were no items of urgent business.

To confirm as a correct record the Minutes of the meeting of the Committee held on 24 January 2018.

The Minutes of the meeting of the Committee held on 24 January 2018 were agreed as a correct record and signed by the Chairman.

To receive communications from the Chairman.

There were no Chairman’s announcements.

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

Report on Deputy Section 151 Officer

Purpose of report

To obtain official sign-off by the Deputy Section 151 Officer and the Chairman of the Accounts, Audit and Risk Committee on the audited Statement of Accounts 2016/17.

Recommendations

The Accounts, Audit and Risk Committee is recommended:

1.1       To approve the draft 2016/17 financial statements.

Resolved

(1)          That the External Audit Year End (31 March 2017) Audit Results report be noted.

(2)          That the Letter of Letter of Representation to External Auditors be approved.

(3)          That the draft 2016/17 financial statements be approved.

The Deputy Section 151 Officer submitted a report to obtain official sign-off by the Deputy Section 151 Officer and the Chairman of the Accounts, Audit and Risk Committee on the audited Statement of Accounts 2016/17.

In introducing the Statement of Accounts 2016/17, the Deputy Section 151 Officer gave a presentation which provided some background and information on the Annual Governance Statement, Statement of Accounting Policies, the council’s core financial statements, supplementary statements and group accounts.

The Deputy Section 151 Officer explained that external auditors had queried the significant year-on-year reduction in valuation of assets contained in the 2016/17 accounts resulting intwo key outstanding issues: Significant changes to the valuation of fixed assets; and, a change in the categorisation of certain assets to recognise the Council’s control over and residual interest in them.These changes had now been fully incorporated in the draft 2016/17 accounts and key judgements had been made in relation to service concessions on assets.

The council’s External Auditor explained that Cherwell District Council would receive an unqualified opinion on the 2016/17 financial statements and a modified value for money opinion which reflected the causes of the delay in finalising the statement of accounts. The External Auditor referred to the letter of representation which required approval by the Committee.

In considering the officers’ report and External Audit Year End Audit Results report, members asked a number of questions to which answers were duly provided.

Resolved

(1)          That the External Audit Year End (31 March 2017) Audit Results report be noted.

(2)          That the Letter of Representation to External Auditors be approved.

(3)          That the draft 2016/17 financial statements be approved.

Report of Director – Customers and Service Development

Purpose of report                                                                                             

This report summarises the Council’s Risk monitoring position as at 23 March 2018 with updates to the current risk strategy.

Recommendations

The Accounts, Audit and Risk Committee is recommended to:

1.1       Review the Leadership Risk Register and identify any issues for further consideration or referral to Executive.

1.2       Note the updated Risk strategy reflecting the Leadership register amendments.

Resolved

(1)          That, having given due consideration, the Leadership Risk Register be noted and no issues be identified for further consideration or referral to Executive.

(2)          That the updated Risk strategy reflecting the Leadership register amendments be noted.

The Director – Customers and Service Development submitted a report which summarised the Council’s Risk monitoring position as at 23 March 2018 with updates to the current risk strategy.

Resolved

(1)          That, having given due consideration, the Leadership Risk Register be noted and no issues be identified for further consideration or referral to Executive.

(2)          That the updated Risk strategy reflecting the Leadership register amendments be noted.

To note the Schedule of meetings for 2018/19 (all Wednesday, 6.30pm).

30 May 2018

25 July 2018

21 November 2018

23 January 2019

13 March 2019

Resolved

(1)          That the schedule of meetings for 2018/19 be noted.

The Committee noted the schedule of meetings for 2018/19. The Interim Executive Director for Finance and Procurement confirmed that an informal meeting of the Committee would be held prior to the 30 May 2018 meeting.

Resolved

(1)          That the schedule of meetings for 2018/19 be noted.

Report of Deputy Section 151 Officer

Purpose of report

To receive information on treasury management performance and compliance with treasury management policy for 2017/18 as required by the Treasury Management Code of Practice.

Recommendations

The meeting is recommended:

 1.1        To note the contents of the third quarter (Q3) Treasury Management Report

Resolved

(1)          That the contents of the third quarter (Q3) Treasury Management Report be noted.

The Deputy Section 151 Officer submitted a report which presented information on treasury management performance and compliance with treasury management policy for 2017/18 as required by the Treasury Management Code of Practice.

Resolved

(1)          That the contents of the third quarter (Q3) Treasury Management Report be noted.

The following item contains exempt information as defined in the following paragraph of Part 1, Schedule 12A of 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 it 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 resolve as follows:

“That under Section 100A of the Local Government Act 1972, the public and press be excluded from the meeting for the following item of business on the grounds that, if the public and press were present, it would be likely that exempt information falling under the provisions of Schedule 12A, Part I, Paragraph 3 would be disclosed to them, and that in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.”

There being no questions or comments on the exempt appendix it was not necessary to exclude the press and public.

Resolved

(1)          That the exempt appendix be noted.

Resolved

(1)          That the exempt appendix be noted.