Agenda and minutes

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Contact: Susan John, Principal Committee Co-ordinator 

Items
No. Item

176.

FILMING AT MEETINGS

Please note that this meeting may be filmed or recorded by the Council for live or subsequent broadcast via the Council’s internet site or by anyone attending the meeting using any communication method. Although we ask members of the public recording, filming or reporting on the meeting not to include the public seating areas, members of the public attending the meeting should be aware that we cannot guarantee that they will not be filmed or recorded by others attending the meeting. Members of the public participating in the meeting (e.g. making deputations, asking questions, making oral protests) should be aware that they are likely to be filmed, recorded or reported on. 

 

By entering the meeting room and using the public seating area, you are consenting to being filmed and to the possible use of those images and sound recordings.

 

The chair of the meeting has the discretion to terminate or suspend filming or recording, if in his or her opinion continuation of the filming, recording or reporting would disrupt or prejudice the proceedings, infringe the rights of any individual or may lead to the breach of a legal obligation by the Council.

Minutes:

The Chair referred Members present to agenda Item 1 as shown on the agenda in respect of filming at this meeting, and Members noted the information contained therein.

177.

Apologies for Absence and Substitutions (if any)

Minutes:

Apologies for absence were received by Cllr Ross.

178.

Urgent Business

The Chair will consider the admission of any late items of urgent business. (late items will be considered under the agenda items where they appear.  New items will be dealt with at item )

Minutes:

The Committee noted that there was 1 item of new urgent business, which would be tabled at Item 12. The Committee noted that the reports were not available at the time of publication of the agenda.

 

           External Audit Annual Audit Letter (Report of BDO)

179.

Declarations of Interest

A member with a disclosable pecuniary interest or a prejudicial interest in a matter who attends a meeting of the authority at which the matter is considered:

 

(i) must disclose the interest at the start of the meeting or when the interest becomes apparent, and

(ii) may not participate in any discussion or vote on the matter and must withdraw from the meeting room.

 

A member who discloses at a meeting a disclosable pecuniary interest which is not registered in the Register of Members’ Interests or the subject of a pending notification must notify the Monitoring Officer of the interest within 28 days of the disclosure.

 

Disclosable pecuniary interests, personal interests and prejudicial interests are defined at Paragraphs 5-7 and Appendix A of the Members’ Code of Conduct.

Minutes:

There were no declarations of interest.

180.

Deputations / Petitions / Presentations / Questions

To consider any requests received in accordance with Part 4, section B, Paragraph 29 of the Council’s Constitution.

Minutes:

There were no such items.

181.

Minutes pdf icon PDF 153 KB

To consider and agree the minutes of the meeting held on 21 September 2017.

Minutes:

That the minutes of the Corporate Committee held on 21 September 2017 be approved as a correct record and signed by the chair.

182.

Updated Treasury Management Strategy Statement pdf icon PDF 113 KB

Report of the Interim Chief Finance Officer presenting the updated Treasury Management Strategy Statement and Prudential Indicators for 2017/18 – 2019/20.

Additional documents:

Minutes:

The Committee noted that the Updated Treasury Management Strategy Statement report had been withdrawn from the agenda following receipt of further Legal and Finance advice.

183.

Mid Year Treasury Management Update Report pdf icon PDF 351 KB

Report of the Interim Chief Finance Officer updating the Committee on the Council’s treasury management activities and performance in the six months to 30 September 2017 in accordance with the CIPFA Treasury Management Code of Practice.

Minutes:

The Committee considered the mid-year report on Treasury Management, presented by Thomas Skeen, Head of Pensions. It was noted that it was a requirement of the CIPFA Treasury Management Code for this report to also be considered by Full Council whose next meeting was scheduled for 4th December 2017. The key messages from the report were that:

 

·         At 31/3/2017 the Council’s underlying need to borrow for capital purposes as measured by the Capital Financing Requirement (CFR) was £575.2m.  The Council had £347.0m of borrowing and £18.6m of investments.

·         At 30/09/2017 the Council held £267.5m of long term loans, (a decrease of £3.1m on 31/3/2017), as part of its strategy for funding previous years’ capital programmes.  The Council expects to take out additional long term borrowing in 2017/18, as the Council’s underlying need to borrow is growing. 

·         The Council holds invested funds, representing income received in advance of expenditure plus balances and reserves held. Cashflow forecasts indicated that during 2017/18 the Council’s investment balances would range between £10 and £50 million.

·         The Council confirms compliance with its Prudential Indicators for 2017/18, which was set in February 2017 as part of the Council’s Treasury Management Strategy Statement. 

 

RESOLVED

 

That members note the Treasury Management activity undertaken during the six months to 30 September 2017 and the performance achieved.

184.

Internal Audit Progress report Quarter 2 pdf icon PDF 179 KB

Report of the Assistant Director of Corporate Governance detailing the work undertaken by Internal Audit in the quarter ending 30 September 2017 and focuses on progress on internal audit coverage relative to the approved internal audit plan, including the number of audit reports issued and finalised – work undertaken by the external provider (Mazars).

Additional documents:

Minutes:

The Committee considered the Internal Audit Progress Report 2017/18 – Quarter 2, presented by Anne Woods, Head of Audit and Risk Management. The report set out progress on internal audit coverage relative to the approved internal audit plan, including the number of reports issued and finalised by Mazars, the Council’s external audit provider, and provided a summary of the audit reports receiving an assurance rating of less than substantial that had been issued during the quarter, as well as an update on follow up work and progress on outstanding actions.

 

In response to a question regarding the outstanding audit work on A team the Committee raised its concern over the report that the original business plan had been abandoned and that a draft version that is currently in its early stages could not be provided for examination. The Committee felt that there should be protocols to ensure that something this essential was in place. It was suggested that the relevant Assistant Director should attend the next Corporate Committee to give assurance and answers any questions.

 

RESOLVED

 

That the Corporate Committee note the audit coverage and follow up work completed.

 

 

185.

Counter-fraud update Quarter 2 pdf icon PDF 199 KB

Report of the Assistant Director of Corporate Governance detailing the work undertaken by the Counter Fraud Team in the quarter ending 30 September 2017 and focuses on details of pro-active and reactive investigative work undertaken relating to fraud and/or irregularities – work undertaken by the in-house Fraud Team.

Additional documents:

Minutes:

The Committee considered the Counter Fraud Update report 2017/18, quarter 1, as presented by Anne Woods, Head of Audit & Risk Management.

The report detailed the pro-active and reactive investigative work undertaken by the in-house counter fraud team. These investigations included work in such areas as tenancy fraud, gas safety-execution of warrant visits, tenancy block visits and Right to Buy. The Committee noted the outcome of these investigations.

 

RESOLVED

 

The Corporate Committee noted the counter-fraud work completed in the quarter to 30 September 2017.

186.

Internal Audit Charter & Self Assessment pdf icon PDF 175 KB

Report of the Assistant Director of Corporate Governance presenting the Internal Audit Charter and annual self-assessment

Additional documents:

Minutes:

The Committee considered the report as presented by the Head of Audit & Risk Management. It was explained that this document was required by law and sets out how the Audit Team carry out their work. The Committee were updated on the changes to the charter following revisions to the Public Sector Internal Audit Standards (PSIAS).

 

The Head of Audit & Risk Management then gave an overview of the self-assessment undertaken against the PSIAS. In response to a question from the Committee it was explained that the reason for the partially compliant rating in two of the audit standard areas was due to them not being applicable to the Council therefore they could not be scored as fully compliant. The Committee noted that as long as the Council was ‘generally compliant’ then it could be satisfied that it was compliant with the requirements of PSIAS.

 

RESOLVED

 

·         That the Corporate Committee review and approve the Internal Audit Charter 2017.

·         That the Corporate Committee note the self-assessment undertaken against the PSIAS; and the requirement for an external independent peer review in 2018/19.

187.

Any other business of an urgent nature pdf icon PDF 3 MB

To consider any items admitted at item 2 above.

Minutes:

The Committee received one item of urgent business, the Annual Audit Letter, presented by Leigh Lloyd-Thomas from BDO. The Committee noted the contents of the report and the progress to date. Mr Lloyd-Thomas advised that the letter was a summarised version of the overall findings of the audit of the Council’s Statement of Account 2016/17, which had been presented in detail at the previous meeting of the Committee. It was advised that the previous report had been a far more technical document, which had raised issues around financial reporting issues.

 

It was noted that all of these technical issues had now been resolved and the auditors were therefore in a position to state their opinion that the Statement of Accounts was a true and fair reflection of the Council’s position. The Committee were also advised that this report had been published at the end of October 2017 in order to meet the deadline set by the NAO and was now live and available on Haringey’s website.

 

Following a question from the Committee in relation to the valuation discrepancy that was raised at the last meeting it was noted that BDO had subsequently met with the valuers and there was a difference between the data set of assets held by the valuer and the data set held by Haringey’s Finance department. The Committee was assured that this had been rectified and that better quality controls would be implemented going forwards. It was noted that the valutions of the assets to be used in the HDV project had undergone intense additional scrutiny.

 

The Committee raised its concern over the reported £16.1m overspend for 2016/17 and asked Mr Leigh-Thomas for his recommendation’s in regards to this. It was advised that although it was not necessary to immediately fill this shortfall, if radical savings were not made in the next 4 years then BDO would become uneasy in relation to the financial sustainability part of their audit conclusions.

 

The Committee also asked Mr Lloyd-Leigh for his professional opinion regarding the sale of assets and it was noted that he recommended it would always be best practice to sell on the open market to achieve the most competitive bids and best value for disposal.

 

The Chair noted that this was the last Committee meeting of Anne Woods, Head of Audit & Risk Management. The Committee expressed its thanks for all of her work in support of the Committee and wished her the very best of luck in the future.

188.

Date and Time of Next Meeting

1st February 2018

Minutes:

30th January 2018