Agenda and minutes

Meeting held on 25 June 2019

* AC 9

The Minutes of the Committee Meeting held on 25 June 2019 were confirmed and signed by the Chairman as a correct record.

* AC 10          

Mr Steve Johnson (Grant Thornton Audit Manager) took the Members through the ‘Audit Findings’ report for the year ended 31 March 2019.  In so doing, he stated that the Accounts for 2018/19 were a well presented set of Accounts for the year, with very few issues or amendments to be made as a result of the Audit.

In reply to a Member question regarding pensions, the Section 151 Officer confirmed that the McCloud case could mean an increase in the pension liability of £284,000.  In response to a question as to whether this would materially affect the Council’s future budget position, the Section 151 Officer explained that the £284,000 for the McCloud case would represent 1.2% of the Council’s overall pension liability of just under £24 million. The pension deficit was recovered over a period of 17 years and therefore it was unlikely that this would have any material impact on the Council’s future employer pension contributions.

The Committee thanked the S151 Officer and her team for their work.

It was then RESOLVED that the report be noted 

* AC 11 

The Lead Hub Committee Member for Resources and Performance presented the Statement of Accounts and the Annual Governance Statement for 2018/19.

In discussion over the IT audit, it was agreed that it would be useful to invite the ICT Specialist to the next Audit Committee meeting.  It was felt that this would be particularly beneficial for newly elected Members.

It was then RESOLVED that approval be given to:

1.      the wording of the Letter of Representation;

2.      the audited Statement of Accounts for the financial year ended 31 March 2019; and

3.      the Annual Governance Statement for 2018/19 post audit.

* AC 12  

The Lead Hub Committee Member for Resources and Performance presented the report.

In discussion, the Section 151 Officer confirmed the maximum borrowing figure was £50 million.  However, the Council could re-consider the level on an annual basis as part of its Medium Term Financial Strategy.

The Section 151 Officer also gave a synopsis of Treasury Management for the benefit of newly elected Members.

It was then RESOLVED that:

1.      the actual 2018/19 prudential and treasury indicators be approved; and

2.      the Annual Treasury Management Report for 2018/19 be noted.

  *AC 13                        

The Lead Member for Performance & Resources introduced the report to the Committee.  Answering a Member question, the Section 151 Officer gave detail on the expenditure on mobile phones stating the secure connection was the major part in the overall cost.

It was then RESOLVED that the content of the Budget Book for 2019/20 be noted.

  *AC 14                        

The Audit Committee Workplan for 2019/20 was presented

It was then RESOLVED that the Audit Committee Workplan 2019/20 be noted.