Agenda and minutes

To approve the minutes of the meeting held on 18 January 2012 (AU3) and to receive information arising from them. 

The Minutes of the meeting held on 18 January 2012 (AU3) were approved and signed. 

11:10

As requested at the last meeting the Head of Corporate Finance will give a presentation on the risk and governance aspects of Treasury Management.

The Committee is RECOMMENDED to note the position. 

At the last meeting the Committee had requested the Head of Corporate Finance to give a presentation on the risk and governance aspects of Treasury Management.

Donna Ross, Principal Financial Officer led a presentation on ‘Treasury Management Strategy Risks’.  The presentation provided the CIPFA definition of Treasury Management (TM) and then looked at the Council’s processes for the TM in terms of its budget, strategy inputs, risk and risk management and monitoring, and the Council’s Strategy for 2012/13.   

The team then responded to questions and comments including regular reporting to members through half yearly reports to Council, monthly monitoring to the Cabinet and regular liaison with the Committee’s Chairman, who was also the Member Champion for Risk Management. 

RESOLVED: to note the information and thank Ms Ross and team. 

11:50

Report by Chief Internal Auditor (AU6). 

The report summarises the matters arising at the most recent meeting of the Audit Working Group (AWG). 

The Committee is RECOMMENDED to:

a)                 note the report;

b)                approve the AWG terms of reference; and

c)                 approve the timings and initial work programme for the AWG in 2012/13. 

The Committee considered a report (AU6) which summarised the main business items arising at the most recent meeting of the Audit Working Group (AWG) on 16 February 2012, which were as follows:

• Internal Audit Report
• Risk Management Report
• Review of AWG Terms of Reference
• AWG Work Programme. 

RESOLVED: to

a)                 note the report;

b)                 approve the AWG terms of reference (subject to any consequential changes arising from Minute 13/12 below); and

c)                  approve the timings and initial Work Programme for the AWG in 2012/13. 

12:10

On 29 November 2006 the Committee adopted a process for preparing the report to Council in respect of the Committee’s performance on the implementation of its Work Programme, as follows:  ‘The Chairman & Deputy Chairman in consultation with the Assistant Head of Finance (Audit) to draft the report for comment by the Opposition Group Spokesman and the Chairman of the Audit Working Group and submission to the Committee.’

The Committee is RECOMMENDED to endorse the Annual Report to Council 2011 (AU7). 

Councillor Wilmshurst introduced the Chairman’s (draft) Annual Report to Council which had been prepared in accordance with the process agreed by the Committee in 2006. 

Members suggested minor updates and textual corrections for inclusion in the final report (for which see the County Council Agenda for the meeting on 3 April 2012 - Agenda item 10).  The Chairman agreed to clarify in particular references to member attendance at the Audit Working Group (AWG) to reflect that all members of the Audit Committee could attend  AWG meetings. 

RESOLVED: to endorse the Annual Report to Council 2011 (AU7) subject to the minor changes raised during debate. 

12:30

Report By Chief Internal Auditor (AU8).

The paper details the Internal Audit Strategy, including the resources available and how we will be delivering our service in 2012/13. Work plans will be prepared on a quarterly basis and will be presented to the Audit Committee for approval.   

The Committee is RECOMMENDED to approve the Internal Audit Strategy. 

The Committee considered a report (AU8) which detailed the Internal Audit Strategy, including the resources available and how the service would be delivered in 2012/13. Mr Dyson confirmed that work plans would be prepared on a quarterly basis and presented to the Audit Committee for approval.  

RESOLVED:  to approve the Internal Audit Strategy subject to minor textual corrections and updates.

12:50

Report by County Solicitor & Monitoring Officer (AU9).  

The Committee currently meets six times a year on a Wednesday morning.  The County Council’s senior management team meets every week at this time. Both the County Council Management Team and the Audit Committee require the continued focus and support of the Council’s Chief Officers. Consequently, it is suggested that the Council’s strategic management and its control arrangements would be enhanced by avoiding any clash between these meetings. This report therefore seeks the Committee’s approval for an alteration in the timing of the Committee from Wednesdays at 11.00 a.m. to a new time of Wednesdays at 2.00 p.m.  

The Committee is RECOMMENDED to agree, and to RECOMMEND to Council, that future meetings of Audit Committee should take place in the afternoon from 2.00 p.m.

The Committee considered a report (AU9) which sought the Committee’s approval for an alteration in the timing of the Committee from Wednesdays at 11.00 a.m. to a new time of Wednesdays at 2.00 p.m.  

The County Solicitor & Monitoring Officer outlined the reasons for the request.  The Committee currently met six times a year on a Wednesday morning.  The County Council’s senior management team also met every week at this time. Both the County Council Management Team and the Audit Committee required the continued focus and support of the Council’s Chief Officers. Consequently, it was suggested that the Council’s strategic management and its control arrangements would be enhanced by avoiding any clash between the two meetings.

If the Committee supported the proposal, any informal briefings/training by officers immediately before the start of Audit Committee meetings would in future commence at 1pm. 

RESOLVED: to RECOMMEND Council that future meetings of Audit Committee should take place in the afternoon from 2.00 p.m..

1:10

The Committee is RECOMMENDED to determine its Work Programme for 2012/13 (AU10). 

The Committee considered and RESOLVED to agree its Work Programme 2012/13 as drafted subject on 18 April 2012 to the deletion of ‘Draft Annual Scrutiny Report’ which was moved to the Audit Working Group agenda for 21 June 2012.