Agenda and minutes

To sign as a correct record the minutes of the meeting held on 28 September 2015.

The minutes of the meeting held on 28 September 2015 were agreed as a correct record, subject to the following amendments:

Minute No. 181: Audited Statement of Accounts 2014/15

Para 1: ‘In accordance with auditing standards’ amended to ‘In accordance with accounts and audit regulations’.

Para 1: Head of Paid Services amended to Head of Financial Services.

Minute No. 183: Letter of Representation 2014/15

Para 1: Head of Paid Services amended to Head of Financial Services.

Para 3: Head of Paid Services amended to Head of Financial Services.

Minute No. 185: Business Continuity Update

Para 1: Head of Paid Services amended to Head of Financial Services.

Councillors/Staff to give notice of any disclosable pecuniary interest, other registrable interest or any other interest and the nature of that interest relating to any item on the agenda in accordance with the adopted Code of Conduct.

None declared.

To answer questions from members of the public – 2 days’ notice of which must have been given in writing or by electronic mail.

None received.

The Assurance, Risk and Audit Officer presented the Assurance, Risk and Audit Report for the quarter ending 30 September 2015. The report set out the work performed by the Assurance, Risk and Audit Section in the financial year 2015/16 and compared the work undertaken against the approved annual plan.

Members noted the level of chargeable time achieved for quarter two, 88.4%, was above the planned target of 87.04%.

The Committee noted the reports submitted in quarter two.

Councillor D Fairbairn asked if all of the Non-Domestic Rates were being charged, specifically with regard to wind turbines. The Head of Governance and Monitoring Officer would ensure this was on the schedule of actions for Heads of Service.

Members noted the audit reviews which were in progress at 30 September 2015.

Members noted that of the 24 agreed actions due for implementation within the period 1 July 2015 to 30 September 2015, 2 actions had been implemented, 18 actions were in progress, 2 actions were overdue from previous quarters and 4 actions had no progress.

The Committee noted the Corporate Risks and Issues Log high level summary.

Members noted the report.

Agreed that:

a)  the contents of the report be noted

b)  the Head of Governance and Monitoring Officer ensures that Councillor D Fairbairn’s question with regard to Non-Domestic Rates is on the schedule of actions for Heads of Service

The Interim Accountant presented the Mid-year review report on treasury management operations for 2015/16. The report set out to inform the Committee on the Council’s treasury management activities during the six month period ending 30 September 2015. The report also provided assurances that treasury management activities had been undertaken in accordance with the Council’s approved Treasury Management Strategy Statement and Investment Strategy.

Members noted an update on the economic environment during the first six months of the financial year to 30 September 2015, an update on interest rates forecasts, an update on the Treasury Management Strategy Statement and Investment Strategy, the Council’s investment and borrowing activities and prudential indicators.

The Committee noted and approved the mid-year review report of treasury management activity during 2015/16.

Recommended: That Council be requested to agree that the contents of the mid-year review report be noted and the actions of the Treasury Management staff be ratified.

G Kelly of Grant Thornton presented an Audit Committee Update report to inform the Committee of the progress made by the external auditors on delivering their responsibilities as at November 2015. The report also included a summary of emerging national issues and developments relevant to the Committee.

The audit for the year ended 31 March 2015 was complete. The 2015-16 accounts audit plan was on track, as was the interim accounts audit, 2015-16 final accounts audit and the Value for Money (VfM) conclusion.

Members noted the report.

Agreed: That the contents of the report be noted.

J Bellard of Grant Thornton presented the Annual Audit Letter. The letter summarised the key findings arising from the work that the external auditors had carried out at the Council for the year ended 31 March 2015.

The external auditors recommended that the Council improved budget management and monitoring arrangements on the effective planned use of reserves, in order for the Council to do further work on improving the profiling its use of general fund and earmarked reserves.

The external auditors recommended that the Council ensured the new service plans for achieving self-sufficiency savings support budget holders to improve the accuracy of in year forecasting and budgeting, in response to slippage against the self-sufficiency planned savings of £0.753m in 2015/16.

The Committee noted the fees charged for the external auditors’ audit and non-audit services totalled £81,660.

Members noted the Annual Audit Letter.

Agreed: That the contents of the Annual Audit Letter be noted.

G Kelly of Grant Thornton presented the National Audit Office’s auditor guidance on Auditors’ Work on Value for Money (VFM) Arrangements.

The Committee noted the guidance.

Agreed: That the guidance on Auditors’ Work on Value for Money (VFM) Arrangements be noted.