Agenda and draft minutes
Venue: Council Chamber. View directions
Media
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Apologies To receive apologies for absence. Minutes: Apologies for absence were received from Councillors Davies and Studdert-Kennedy.
As Councillor Studdert-Kennedy had provided his apologies for the meeting Councillor Pearcy proceeded as Vice Chair in the Chair for the meeting.
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Declaration of Interests To receive declarations of interest.
Minutes: There were none. |
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To approve the minutes of the meeting held on 27 September 2022. Minutes: RESOLVED That the Minutes of the meeting held on 27 September 2022 were approved as a correct record. |
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Public Question Time The Chair of the Committee will answer questions from members of the public submitted in accordance with the Council’s procedures.
Minutes: There were none. |
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Member Questions See Agenda Item 4 for deadlines for submission. Minutes: There were none. |
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Counter Fraud and Enforcement Unit Report PDF 101 KB To provide the Audit and Standards Committee with assurance over the counter fraud activities of the Council in relation to the work undertaken by the Counter Fraud and Enforcement Unit.
The report also provides the Audit and Standards Committee with the updates in relation to the work streams associated with the Regulation of Investigatory Powers Act 2000 (RIPA), the Investigatory Powers Act 2016 (IPA) and the Council’s existing authorisation arrangements. Minutes: The Head of Service, Counter Fraud and Enforcement Unit provided a brief update on the work their team had been completing and highlighted the following key points:
The Head of Service, Counter Fraud and Enforcement Unit advised that at the last committee meeting there was a question raised regarding the information provided at the bottom of the Council Tax bills issued to residents. She confirmed that there was a note on the bottom reminding residents to update the Council regarding any changes that affected discounts and exemptions and that she had requested the additional line ‘if you don’t, you may be subject to a penalty’.
The Head of Service, Counter Fraud and Enforcement Unit gave the following answers in response to questions asked:
Councillor Hurst proposed and Councillor Baker seconded.
After being put to a vote, the Motion was carried unanimously.
RESOLVED To consider the report and comment as necessary. |
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To inform Members of the External Audit activity progress. Minutes: Umais Asghar from Deloitte presented this item. The letter summarised the outcome of the audits carried out in 2021/22.
The flowing answers were given in response to questions from Members:
In response to The Chair, Councillor Pearcy, the Accountancy Manger explained that the valuations were carried out by an external valuer and that Covid had an impact on revenue which in turn lowered the value of the car parks. The Strategic Director of Resources also confirmed that there were complex rules around valuing assets and that it was based on a long term assessment of rental income. |
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Statement of Accounts 2021/22 PDF 81 KB To approve the Statement of Accounts 2021/22 and receive Deloitte’s audit opinion, including the changes to the accounts since the unaudited accounts were signed off by the Strategic Director of Resources on 28 July 2022. Additional documents: Minutes: The Principal Accountant introduced the report and explained that the statement of accounts was initially signed off on the 28 July 2022 and the audit had begun on the 1 August 2022. He then drew the Committee’s attention to the following key points:
The Strategic Director of Resources explained that there had been a misprint with the balance sheet found on page 72 however all the relevant information was included within the statement of accounts.
The Monitoring Officer advised that the decision be amended to include ‘subject to the re-formatting of the balance sheet’.
The Councillors agreed.
Councillor Kay proposed and Councillor Pearson seconded.
After being put to a vote, the Motion was carried.
RESOLVED To a) Approve the audited statement of accounts for the year ending 31 March 2022; and b) Subject to the re-formatting of the balance sheet, approve that the Strategic Director of Resources and Chair of the Audit Committee sign the Statement of Accounts and the letter of representation. |
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Half Year Treasury Management Report 2022/23 PDF 122 KB To provide an update on Treasury Management activity as at 30/09/2022 Additional documents:
Minutes: The Principal Accountant introduced the report and explained that there were no proposed changes to the strategy within the report and it was solely focused on the performance areas of Treasury Management. He then proceeded to provide an overview of the report and informed the Committee of the following:
In response to Councillor Kay, it was confirmed that the 1m invested in Thurrock District Council was repaid in full.
The Principal Accountant explained, in response to Councillor Wilsher, that all investments were subject to the first 3 priorities as set out in the Treasury Guidelines. If investments of a similar return were equal on the first 3 principals, then it would fall to the fourth principal for a better ESG rating to decide where to invest. Councillor Wilsher expressed concerns with companies who had questionable ethics but who would have a better ESG rating. The Strategic Director of Resources explained that the Ethical Investment Policy, which came into force from the 1 April 2022, clarified what areas not to invest in.
Councillor Hurst questioned whether the £102m of borrowing was on a fixed term interest rate. The Principal Accountant confirmed that it was.
Councillor Wilsher proposed and Councillor Pearson seconded.
Councillors Pearson and Kay commended the Officers for their report.
After being put to a vote, the Motion was carried unanimously.
RESOLVED To accept the Treasury Management half year report. |
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Internal Audit Progress Report 2022/23 PDF 66 KB Additional documents:
Minutes: The Group Manager introduced the report and explained that it consisted of finalised outcomes for the period September – October 2022 and confirmed the status of work as at the 31 October 2022. She gave a brief overview of the report:
In response to Councillors, the ARA team gave the following answers:
Councillor Baker Proposed and Councillor Hurst seconded.
Councillor Kay commended the work of the Officers.
After being put to a vote, the Motion was carried unanimously.
RESOLVED To a) Accept the progress against the Internal Audit Plan 2022-23; and b) Accept the assurance opinions provided in relation to the effectiveness of the Council’s control environment (comprising risk management, control and governance arrangements). |
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Corporate Risk Register Update PDF 102 KB Minutes: The Strategic Director of Resources explained that there were very few changes within the report and proceeded to highlight the following key points:
The Strategic director of Resources also informed the Committee that they had completed the procurement of the new Risk Management System, Pentana Risk. He further confirmed that Councillors would have access to the system once it was up and running.
Councillor Baker questioned the low severity of CCR95, the Strategic director of Resources agreed to get this reviewed by the Risk Owner.
In response to Councillor Pearson the Strategic Director of Resources confirmed that the inflation risk was included within the CCR1 risk which covered the general balancing of the account however, he would take the comments on board and review the wording for CCR1.
In response to Councillor Smith, the Strategic director of Resources confirmed that there was an audit planned for later in the year with regard to cyber security. The Group Manager confirmed that piece of work had already begun.
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To consider the Work Programme for 22 / 23 PDF 81 KB Minutes: The Group Manager informed the Committee of a Risk Based Audit Planning Workshop which would be taking place prior to the next committee and asked all Audit and Standards Committee Councillors to attend. The request was supported by the Committee Chair. |