Agenda

To confirm, as being a correct record, the minutes of the Audit Committee, held on 26 September 2024, and for them to be signed by the Chair.

Items of other business notified under Council Procedure Rule 30 to be announced, together with the special circumstances that justify their consideration as a matter of urgency. The Chair to rule on the admission of such items.

To receive any declarations of interest.

The purpose of this report is to enable the Audit Committee to comment on the draft capital strategy and treasury management policy. The strategy and policy will go on to Policy and Resources Committee and then on to Budget Council on 25^th February 2025 and covers the medium term (2025/26 to 2027/28).  The tables reflect the current financial year position as at Period 6 monitoring and will be updated for Policy and Resources Committee.

Recommendation

That the report is noted, and any recommendations are made to be considered by the Director of Finance and Policy and Resources Committee to allow the final strategy to be approved by Budget Council in February 2025.

This report details:

a)     Progress made by the Shared Internal Audit Service (SIAS) in delivering the Council’s annual audit plan for 2024/25 as at 15 November 2024.

b)     Proposed amendments to the approved 2024/25 Annual Audit Plan.

c)     Implementation status of all previously agreed audit recommendations from 2019/20 onwards.

d)     An update on performance management information as at 15 November 2024.

Recommendation

Members are recommended to:

• Note the Internal Audit Progress Report for the period to 15 November 2024
• Approve amendments to the Audit Plan as at 15 November 2024
• Agree changes to the implementation date for 5 audit recommendations (paragraph 2.5) for the reason set out in Appendices 3 to 6
• Agree removal of implemented audit recommendations (Appendices 3 to 6)

This mid-year report has been prepared in compliance with CIPFA’s Code of Practice on Treasury Management and covers performance against the Council’s Capital Strategy and Treasury Management Policy.

The report is presented to the Audit Committee as the body delegated by Council to undertake the role of scrutiny of treasury management strategy and policies.

Recommendation

That the Committee notes the contents of the 2024/25 mid-year review of the Treasury Management function and recommends the report to Council.

This report advises the Committee on the latest position in respect of the evaluation of financial risks facing the Council for discussion and any recommendations or comments they wish to make.

Recommendation

That the Committee review the risk register and make any comments it wishes to make against individual risks.

This report sets out the Audit Committee’s latest Work Programme to enable the Committee to make updates as required.

Recommendation

That the Committee consider and makes necessary changes to its Work Programme.