Agenda and draft minutes

No apologies for absence were received.

Members are requested to declare the existence and nature of any disclosable pecuniary interests and/or other interests, not already on their register of interests, in any item on the agenda and withdraw from the meeting at the appropriate time.

Members were requested to declare the existence and nature of any disclosable pecuniary interest and/or other interest, not already on their register of interest, in any item on the agenda and withdraw from the meeting at the appropriate time.

No declarations of interest were made.

TheEngagement Director of Forvis Mazars presented the Audit Completion Report (year ended 31 March 2024) and the Auditor’s Annual Report (year ended 31 March 2024) for the Council, both of which had been included in a Supplementary Agenda circulated to Members.

The Engagement Director explained that the final statement had been adjusted for pension valuations, following final valuations from the actuary.

The Committee discussed the reference in the report to declaration of interest forms (“19 members had not completed these forms”) and asked if this was an issue at other local authorities. The Engagement Director explained that this happened at many other Councils.

Members discussed the references in the report to pension funds. The Director of Finance and Resources assured Members that pension funds would not impact the Council’s ‘going concern’ bottom line.

RESOLVED – That the reports be noted. 

The Corporate Finance Manager presented a report summarising the Treasury Management position for the third quarter of 2024/25.

Members referred to the section of Appendix 1 about the banking credit review and felt this appeared to be presenting an overly optimistic picture. The Director of Finance and Resources explained that this was based on advice from the Council’s External Treasury Managers Arlingclose, and was supported by granular data which was regularly updated so investment decisions were based on the most recent data.

RESOLVED – That the report be noted.   

The Director of Finance and Resources presented a report to enable the Audit Committee to approve the Work Programme for the municipal year 2024/25.

The Chair requested that the next Work Programme 2025/26 should set the Committee’s work out over a longer period by including the next four years instead of the next one year.

Members were pleased to see ‘Devolution Risks’ in the draft Work Programme for the meeting on 14 April 2025, and agreed that because of its importance, it should also be included in the 2025/26 Work Programme.

RESOLVED –

(1)  That the draft Work Programme 2024/25 be approved.

(2)  That the next Work Programme 2025/26 should set the Committee’s work out over a longer period by including the next four years instead of the next one year.

(3)  That the issue ‘Devolution Risks’ in the draft Work Programme for the meeting on 14 April 2025, should also be included in the 2025/26 Work Programme.

To consider any other matter which the Chair of the Committee is of the opinion should be considered as a matter of urgency.

None.

The next meeting of the Audit Committee is scheduled to take place on 14 April 2025 at 3.00 pm.  

The next meeting of the Audit Committee was scheduled to take place on 14 April 2025 at 3.00 pm.