Agenda

Audit & Governance Committee - Wednesday, 18 January 2023 2.00 pm

Venue: Council Chamber - County Hall, New Road, Oxford OX1 1ND. View directions

Contact: Committee Services  Email:  committees.democraticservices@oxfordshire.gov.uk

Link: video link https://oxon.cc/AG18012023

Items
No. Item

1.

Apologies for Absence and Temporary Appointments

2.

Declaration of Interests - see guidance note

3.

Minutes pdf icon PDF 254 KB

To approve the minutes of the meeting held on 23 November 2022 and to receive information arising from them.

4.

Petitions and Public Address

Members of the public who wish to speak at this meeting can attend the meeting in person or ‘virtually’ through an online connection.

 

To facilitate ‘hybrid’ meetings we are asking that requests to speak or present a petition are submitted by no later than 9am four working days before the meeting i.e., 9am on Thursday 12 January 2023. Requests to speak should be sent to jonathan.deacon@oxfordshire.gov.uk.

 

If you are speaking ‘virtually’, you may submit a written statement of your presentation to ensure your views are taken into account. A written copy of your statement can be provided no later than 9am 2 working days before the meeting. Written submissions should be no longer than 1 A4 sheet.

5.

Treasury Management Strategy Statement and Annual Investment Strategy for 2023/24 pdf icon PDF 499 KB

Report by the Director of Finance.

 

The Treasury Management Strategy & Annual Investment Strategy for 2023/24 outlines the Council’s strategic objectives in terms of its debt and investment management for the financial year 2023/24.

 

The Committee is RECOMMENDED to endorse the Treasury Management Strategy for 2023/24.

6.

Financial Management Code of Practice Compliance Assessment pdf icon PDF 233 KB

Report by the Director of Finance.

 

The Chartered Institute of Public Finance and Accountancy (CIPFA) launched the Financial Management Code of Practice (FM Code) in November 2019.  Local authorities are expected to demonstrate that the requirements of the FM Code are being satisfied annually from 2021/22.

 

The Committee is RECOMMENDED to endorse the assessment of compliance against the Financial Management Code for 2022/23.

Additional documents:

7.

Council Motion: Education Scrutiny Committee pdf icon PDF 204 KB

Report by the Director of Law and Governance.

 

The Committee is RECOMMENDED to consider the question of whether the Education Scrutiny Committee should be re-established as part of its review of the Council's scrutiny function in any governance review.

8.

Annual Governance Statement 2021/22 - Update on Actions pdf icon PDF 265 KB

Report by the Director of Law & Governance and Monitoring Officer.

 

On 20 July 2022, the Committee approved the Annual Governance Statement (AGS) for the year 2021/22. Local authorities are required to prepare an AGS to be transparent about their compliance with good governance principles and to give an opinion on the effectiveness of those arrangements. As part of the process, authorities are expected to highlight particular areas of focus for the year following.

 

The Director of Law & Governance and Monitoring Officer presented an update to Committee on 23 November 2022 on the eight particular areas of focus identified for 2022/23.  The current report updates the Committee on only those actions where an additional update is required.

 

The Committee is RECOMMENDED to note the update on the actions from the Annual Governance Statement 2021/22 and to make any comment upon them.

 

 

9.

Internal Audit 2022/23 Progress Report pdf icon PDF 560 KB

Report by the Director of Finance.

 

The report provides an update on the Internal Audit Service, including resources, completed and planned audits.

 

The Committee is RECOMMENDED to note the progress with the 2022/23 Internal Audit Plan and the outcome of the completed audits.

10.

Audit Working Group update pdf icon PDF 217 KB

Report by the Director of Finance.

 

This report sets out the matters considered by the Audit Working Group at the meeting held on 14 December 2022.

 

The Committee is RECOMMENDED to note the report.

11.

Risk Management Update pdf icon PDF 224 KB

Report by the Corporate Director CODR

 

The report sets out updates to the Strategic Risk Register 2022/23

 

The Committee is RECOMMENDED to note the Risk Management Overview.

12.

Ernst & Young update

A verbal update from the representatives of the external auditors, Ernst & Young.

13.

Oxfordshire Pension Fund Audit Planning report pdf icon PDF 5 MB

Report from Ernst and Young, the Council’s external auditor.

14.

Committee's Work Programme pdf icon PDF 191 KB

To review the Committee’s Work Programme

Close of meeting