Agenda and minutes

Meeting held on 29 October 2019

* AC 25            

The Minutes of the Committee Meeting held on 29 October 2019 were confirmed and signed by the Chairman as a correct record.

Report of the Section 151 Officer

AC 26      

The Section 151 Officer took Members through the report. After discussions, it was suggested and agreed that the deficit recovery period be maintained at 17 years. It was also agreed by Members to take advantage of the 1.5% discount being offered by the Devon County Pension Fund, by paying the secondary rate pension deficit contributions (£325,000) at the start of April 2020 in one payment (rather than in twelve monthly instalments).

It was then RESOLVED that:

The Audit Committee RECOMMEND to the Hub Committee to maintain the deficit recovery period of the Pension Deficit at 17 years, as set out in the report. It was also recommended to make one annual payment in April 2020 for the secondary rate pension deficit contributions, to take advantage of the 1.5% discount being offered.

Grant Thornton Report

* AC 27      

The External Auditor presented the Progress Report and Sector Update.

He reported that the sign off date of July 2020 was not seen in all councils as some were scheduled for September. An independent review (the Redmond Review) to examine local authority financial reporting was due to be published in March 2020. He also stated the Interim audit would take place on 9 March 2020 and last for a period of four weeks.

It was then RESOLVED that the content of the Report & Update be noted. 

Report of the Internal Audit Manager

PART TWO – ITEMS WHICH MAY BE TAKEN IN THE ABSENCE OF THE PUBLIC AND PRESS ON THE GROUNDS THAT EXEMPT INFORMATION MAY BE DISCLOSED (if any).

The Committee is recommended to pass the following resolution:

“RESOLVED that under Section 100(A)(4) of the Local Government Act 1972, the public be excluded from the Meeting on the grounds that exempt information may be disclosed as defined in the paragraph given below in bold type from Part I of Schedule 12(A) to the Act.”

This document can be made available in large print, Braille, tape format, other languages or alternative format upon request. Please contact the Committee section on 01822 813662 or email darryl.white@swdevon.gov.uk

*AC 28          

The Internal Auditor took Members through the progress of the 2019/20 Internal Audit Plan.

The S151 Officer suggested that once the new Chief Executive was in their role, then the authority could look at a business continuity exercise taking place.

It was RESOLVED that the content of the Report be noted.