Agenda, decisions and minutes

Venue: The Forum, Moat Lane, Towcester, Northants NN12 6AD

Contact: Sharon Hickson, Democratic and Elections  Email: sharon.hickson@cherwellandsouthnorthants.gov.uk, 01295 221554

Items
No. Item

45.

Declarations of Interest

Members are asked to declare any interest and the nature of that interest which they may have in any of the items under consideration at this meeting.

 

Minutes:

There were no declarations of interest.

46.

Minutes pdf icon PDF 207 KB

To confirm the Minutes of the meeting of the Committee held on 22 November 2018.

Minutes:

The Minutes of the meeting of the Committee held on 22 November 2018 were agreed as a correct record and signed by the Chairman.

47.

Chairman's Announcements

To receive communications from the Chairman.

 

Minutes:

There were no chairman’s announcements.

48.

Internal Audit Update 2018-19 pdf icon PDF 118 KB

Report of the Assistant Director, Finance, Procurement and Property (Section 151 Officer)

 

Purpose of report

 

To receive the CW Audit Service Update report for 2018/19.

 

Recommendations

            

The meeting is recommended:

 

1.1     To note the contents of the 2018/19 internal audit progress report from CW Audit Services.

Additional documents:

Decision:

Resolved

            

(1)              That the contents of the 2018/19 internal audit progress report from CW Audit Services be noted.

Minutes:

The Assistant Director, Finance, Procurement and Property (Section 151 Officer) submitted a report updating the Committee on the CW Audit Service for 2018/19.

 

In presenting the report the Audit Manager, CW Audit Services highlighted that an additional three financial reviews had now been completed

 

 

Resolved

            

(1)          That the contents of the 2018/19 internal audit progress report from CW Audit Services be noted.

49.

External Audit Progress Update

Verbal update by Assistant Director: Finance, Procurement and Property (Section 151 Officer)

Decision:

Resolved

 

(1)              That the verbal update be noted.

Minutes:

The Associate Partner, Ernst Young gave a verbal update on the work of external audit. The Committee was advised of the new areas of focus within Fraud Risk. Members asked questions regarding a number of other areas i.e. Pension Liability Valuation and Re-organisation of local government in Northamptonshire which were duly responded to by the Assistant Director, Finance and Procurement and the Associate Partner, Ernst Young.

 

The Associate Partner, Ernst Young highlighted a number of other areas of the 2018/19 audit strategy to the Committee, Materiality, Value for Money and Fees.

 

Resolved

 

(1)          That the verbal update be noted.

50.

Draft Treasury Management Strategies 2019/20 pdf icon PDF 140 KB

Report of Assistant Director: Finance, Procurement and Property (Section 151 Officer)

 

Purpose of report

 

To submit the draft suite of Treasury Management Strategies for 2019/20.

 

 

Recommendations

            

The meeting is recommended:

 

1.1     To recommend the draft Treasury Management Strategies 2019/20 to Council.

Additional documents:

Decision:

Resolved

 

(1)     That, subject to the figure amendment in Appendix 3, Table 2 the draft Treasury Management Strategies 2019/20 (Annex to the Minutes as set out in the Minutes Book) be recommended to Council for adoption.

 

Minutes:

The Assistant Director: Finance, Procurement and Property (Section 151 Officer) submitted a draft suite of Treasury Management Strategies for 2019/20.

 

In response to Members questions regarding the Capital Strategy 2019/20, in particular the Capital Finance Requirement, the Assistant Director: Finance, Procurement and Property (Section 151 Officer) explained that the authority was currently debt free however there is a legal responsibility to set an affordable borrowing limit.

 

In considering the report, Members questioned the figures contained in the table “Property held for investment purposes” reported in the Investment Strategy 2019/20, the Assistant Director: Finance, Procurement and Property (Section 151 Officer) confirmed these were incorrect and would be amended.

 

Resolved

 

(1)  That, subject to the figure amendment in Appendix 3, Table 2 the draft Treasury Management Strategies 2019/20 (Annex to the Minutes as set out in the Minutes Book) be recommended to Council for adoption.

 

51.

Urgent Business

The Chairman to advise whether they have agreed to any items of urgent business being admitted to the agenda.

Minutes:

There was no urgent business.

52.

Review of Committee Work Programme pdf icon PDF 20 KB

To review and note the Committee Work Programme.

Decision:

Resolved

 

(1)     That, subject to the inclusion of a Brexit update within the Agenda item Risk Management, the Committee work plan be noted.

Minutes:

The Committee reviewed the Work Programme.

 

Resolved

 

(1)  That, subject to the inclusion of a Brexit update within the Agenda item Risk Management, the Committee work plan be noted.