Agenda and decisions

Audit Committee
Wednesday, 12 September 2018 6.00pm

Venue: Shimkent Room - Shimkent Room - Daneshill House, Danestrete

Contact: Guy Moody 01438 242703  Email: committees@stevenage.gov.uk

Items
No. Item

1.

APOLOGIES FOR ABSENCE AND DECLARATIONS OF INTEREST

Decision:

There were neither apologies for absence nor declarations of interest.

 

Mr G Gibbs was introduced to the Committee as the new Independent Member.

2.

MINUTES - 12 JUNE 2018 pdf icon PDF 68 KB

To approve as a correct record the minutes of the meeting of the Committee held on 12 June 2018.

Decision:

It was RESOLVED that the Minutes of the meeting of the Audit Committee held on 12 June 2018 are approved as a correct record and signed by the Chair.

3.

MINUTES - 26 JULY 2018 pdf icon PDF 85 KB

To approve as a correct record the minutes of the meeting of the Committee held on 26 July 2018.

Decision:

It was RESOLVED that the Minutes of the meeting of the Audit Committee held on 26 July 2018 are approved as a correct record and signed by the Chair.

4.

LOCAL GOVERNMENT AUDIT BRIEFING pdf icon PDF 75 KB

To note the Local Government Briefing Paper for Quarter 2 prepared by Ernst and Young.

Additional documents:

Decision:

Members asked a number of detailed questions about the briefing paper which were answered by the Officer.

 

In response to a Member request the Assistant Director Finance and Estates undertook to circulate a note to committee members detailing the classification of the Council’s ‘for sale’ assets under the IFRS 9 standard.

 

It was RESOLVED that the Local Government Briefing Paper for Quarter 2 prepared by EY is noted.

5.

ANNUAL AUDIT LETTER pdf icon PDF 72 KB

To consider the Annual Audit letter from Ernst and Young.

Additional documents:

Decision:

A number of typographical errors were identified in the Member copy of the report.  In reply to a request the Assistant Director Finance and Estates undertook to circulate an original copy of the report to committee members.

 

It was RESOLVED that the Annual Audit Letter from the Council’s external auditors EY is noted.

6.

SHARED INTERNAL AUDIT SERVICE ANNUAL REPORT 2017/18 pdf icon PDF 814 KB

To consider the Shared Internal Audit Service (SIAS) Annual Report 2017/18.

Decision:

The Committee discussed the relative merits of SIAS as opposed to an internal audit function and its benefits to the Council.  It was suggested that the Committee revisit the original Terms of Reference to determine if the SIAS brief had been achieved.

 

It was RESOLVED that the report is noted.

7.

SHARED INTERNAL AUDIT SERVICE PROGRESS REPORT 2018/19 pdf icon PDF 202 KB

To consider the Shared Internal Audit Service (SIAS) Progress report for 2018/19 up to 31 August 2019.

Decision:

The Committee was advised that progress of the audit plan was on track and that since the publication of the report 36% of the Audit Plan days had been delivered.  In addition the Data Quality project had been finalised.

 

It was RESOLVED that the report be noted.

8.

ANNUAL TREASURY MANAGEMENT REVIEW 2017/18 INCLUDING PRUDENTIAL CODE pdf icon PDF 299 KB

To consider the Annual Treasury Management Review 2017/18.

Additional documents:

Decision:

The Assistant Director Finance and Estates advised the Committee that while interest rates remained low the level of external borrowing had been minimised by the use of internal borrowing while cash balances allowed.

 

It was RESOLVED that the 2017/2018 Annual Treasury Management Review is recommended to Council for approval.

9.

URGENT PART I BUSINESS

To consider any Part I business accepted by the Chair as urgent.

Decision:

The Assistant Director Finance and Estates advised the Committee that following a report to the Executive on 5 September it would have a monitoring role on the effectiveness of Community Infrastructure Levy and Section 106 monies.

10.

EXCLUSION OF PUBLIC AND PRESS

To consider the following motions –

 

1.  That under Section 100(A) of the Local Government Act 1972, the press and public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as described in paragraphs1 – 7 of Part 1 of Schedule 12A of the Act as amended by Local Government (Access to Information) (Variation) Order 2006.

 

2.  That Members consider the reasons for the following reports being in Part II and determine whether or not maintaining the exemption from disclosure of the information contained therein outweighs the public interest in disclosure.

 

Decision:

It was RESOLVED that:

 

1.         Under Section 100(A) of the Local Government Act 1972, the press and public be excluded from the meeting for the following item of business on the grounds that it involved the likely disclosure of exempt information as described in paragraphs 1-7 of Part 1 of Schedule 12A of the Act as amended by Local Government (Access to information) (Variation) Order 2006.

 

2.         Members having considered the reasons for the following report being in Part II and determined that the exemption from disclosure of the information contained therein outweighed the public interest in disclosure.

11.

PART II MINUTES - AUDIT COMMITTEE - 12 JUNE 2018

To approve as a correct record the Part II section of the minutes of the meeting of the Committee held on 12 June 2018.

Decision:

It was RESOLVED that the Part II Minutes of the meeting of the Audit Committee held on 12 June 2018 are approved as a correct record and signed by the Chair.

12.

STRATEGIC RISK REGISTER

To note the latest Strategic Risk Register for Stevenage Borough Council and developments on risk management issues.

Decision:

The Committee received the Council’s latest Strategic Risk Register.

 

Members asked a number of detailed questions about the report which were answered by the Officer.

 

It was RESOLVED that the report is noted.

13.

URGENT PART II BUSINESS

To consider any Part II business accepted by the Chair as urgent.

Decision:

None.