Agenda, decisions and minutes

There were no declarations of interest.

There were no petitions or requests to address the meeting.

To confirm as a correct record the Minutes of the meeting of the Committee held on 18 November 2020.

The Minutes of the meeting of the Committee held on 18 November 2020 were agreed as a correct record and signed by the Chairman.

To receive communications from the Chairman.

There were no chairman’s announcements.

There were no items of urgent business.

Report of the Senior Investigation Officer – Corporate Fraud Team

Purpose of report

The report provides an overview of the current progress of the Authority’s counter fraud response following the delegation of authority in July 2018 to Oxford City Council.

Recommendations

The Audit Committee is recommended to:

1.1       Review and note the current performance of the Corporate Fraud team

1.2       Consider future work plans as described and the impact that this will have on future performance and income to the authority.

Resolved

(1)          That the current performance of the work of the Corporate Fraud team be noted.

(2)            That the future work plans as described and the impact that this will have on future performance and income to the authority be noted.

The Senior Investigation Officer – Corporate Fraud submitted a report which provided an overview of the current progress of the Authority’s counter fraud response following the delegation of authority in July 2018 to Oxford City Council.

Resolved

(1)          That the current performance of the work of the Corporate Fraud team be noted.

(2)            That the future work plans as described and the impact that this will have on future performance and income to the authority be noted.

Report of the Director of Finance

Purpose of report

The report presents the Internal Audit Progress report for 2020/21

Recommendations

The meeting is recommended:

1.1         To note the progress with the 2020/21 Internal Audit Plan and the outcome of the completed audits.

1.2         To review recommended best practice within CIPFA Audit Committee Guidance (2018) and agree additions to the AARC work programme.

Resolved

(1)          That the progress with the 2020/21 Internal Audit Plan and the outcome of the completed audits be noted

(2)          After due consideration the recommended best practice within CIPFA Audit Committee Guidance (2018) and additions to the Accounts, Audit and Risk Committee work programme be agreed.

The Director of Finance submitted a report which presented the Internal Audit Progress for 2020/21.

The Chief Internal Auditor highlighted the significant reduction of outstanding management actions for 2018/19 and 2019/20, informing Members that the remaining outstanding actions would continue to be reviewed and followed up with senior management.

The Chief Internal Auditor and Assistant Director Social Care Commissioning and Housing responded to all questions regarding the Disabled Facilities Grants (DFG) Processes 2020/21 raised by the Committee. The Committee requested updates to be given at future meeting on the progress on the new Disabled Adaptations Policy currently being drafted.

Resolved

(1)          That the progress with the 2020/21 Internal Audit Plan and the outcome of the completed audits be noted

(2)          That, having given due consideration the recommended best practice within CIPFA Audit Committee Guidance (2018) and additions to the Accounts, Audit and Risk Committee work programme be agreed.

Report of the Director of Finance

Purpose of report

To submit the draft Capital and Investment Strategy and Treasury Management Strategy for 2021-22.

Recommendations

The meeting is recommended:

1.1           To recommend the draft strategies for 2021-22 to Council.

Resolved

(1)          That full Council be recommended to adopt the draft Treasury Management Strategies 2021-2022.

The Director of Finance submitted a report which presented the draft Capital and Investment Strategy and the Treasury Management Strategy for 2021-22.

The Assistant Director Finance provided an overview of each strategy and proposed changes within:

Capital Strategy;                   table 1, correction of column heading dates.

mitigation table, alteration of text in upward only rent reviews to rent reviews to maximise income.

Investment Strategy;           paragraph B3.5, additional bullet point.

paragraph B5.4, be removed.

Resolved

(1)          That, subject to the inclusion of the amendments, full Council be recommended to adopt the draft Treasury Management Strategies 2021-2022.

Verbal Update by the Director of Finance.

Resolved

(1)      That the Statement of Accounts 2018/19 be endorsed and once the final audit opinion is received the Director Finance (S151 Officer), in consultation with the Chairman of the Accounts, Audit and Risk Committee (or Vice Chairman in case the Chairman is unavailable) be authorised to sign the accounts and it be noted that if any material changes to the accounts are required, then an additional committee meeting would be convened to consider the changes.

(2)       That the Director of Finance, in consultation with the Chair of the Committee (or Deputy Chair in their absence), can make any further changes to the letters of representation that may arise during completion of the audit be agreed.

The Director of Finance advised the Committee that due to uncertainty of whether a revised set of accounts would be available for the meeting this item has been listed as a verbal update on the agenda. A written report had subsequently been submitted requesting that the Committee consider changes to be incorporated to the draft statement of accounts.

The Director of Finance highlighted the most significant change, which was due to the adjustment of an asset and it now being classed as a different type of asset which meant it had a different valuation.

Ernst & Young, the council’s external auditor updated members on the status of the audit, advising that two areas requiring third party responses remained before the audit could be completed.

Resolved

(1)      That the Statement of Accounts 2019/20 be endorsed and once the final audit opinion was received the Director of Finance (S151 Officer), in consultation with the Chairman of the Accounts, Audit and Risk Committee (or Vice Chairman in case the Chairman was unavailable) be authorised to sign the accounts and it be noted that if any material changes to the accounts were required, then an additional committee meeting would be convened to consider the changes.

(2)       That it be agreed that the Director of Finance, in consultation with the Chairman of the Accounts, Audit and Risk Committee (or Vice Chairman in their absence), can make any further changes to the letters of representation that may arise during completion of the audit.

To consider and review the Work Programme.

Resolved

(1)          That the work programme be noted.

The Committee considered the workplan for the coming year.

Resolved

(1)          That the work programme be noted.