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Agenda and minutes

Venue: online via Microsoft Teams

Contact: Democratic Services  Email: committee.services@tmbc.gov.uk

Link: View Meeting

Items
No. Item

PART 1 - PUBLIC

AU 21/1

Declarations of interest pdf icon PDF 3 KB

Members in any doubt about such declarations are advised to contact Legal or Democratic Services in advance of the meeting

Minutes:

There were no declarations of interest made in accordance with the Code of Conduct.

AU 21/2

Minutes pdf icon PDF 203 KB

To confirm as a correct record the Minutes of the meeting of Audit Committee held on 28 September 2020

Minutes:

RESOLVED:  That the Minutes of the meeting of the Audit Committee held on 28 September 2020 be approved as a correct record and signed by the Chairman.

Matters for Recommendation to the Cabinet

AU 21/3

Risk Management pdf icon PDF 124 KB

The report asks Members to review the Risk Management Strategy and accompanying Risk Management Guidance and to recommend its adoption by the Council.  It also provides an update on the risk management process and the Strategic Risk Register. 

Additional documents:

Minutes:

Members reviewed the Risk Management Strategy and accompanying Risk Management Guidance attached at Annexes 1 and 2 respectively.

 

The report of the Management Team also provided an update on the risk management process and the Strategic Risk Register (Annex 3).  Members were reminded that as a result of the Covid-19 pandemic and measures taken in response a number of risks had been re-categorised as RED and this remained the case.  There had also been significant risks identified with the Local Plan and the delivery of local elections and these had been escalated to RED.

 

RECOMMENDED:  That

 

(1)             the Risk Management Strategy and the Risk Management Guidance be commended to the Cabinet for adoption by Full Council; and

 

(2)             the updates to the Strategic Risk Register since the last iteration, with particular emphasis on the escalation to Red of the risks set out in paragraph 1.4.6 of the report, be noted.

 

*Referred to Cabinet

 

 

AU 21/4

Treasury Management Update and Treasury Management and Annual Investment Strategy for 2021/22 pdf icon PDF 280 KB

The report provides details of investments undertaken and return achieved in the first nine months of the current financial year and an introduction to the 2021/22 Treasury Management and Annual Investment Strategy.  Members are invited to recommend adoption of the Strategy.

Additional documents:

Minutes:

The report of the Director of Finance and Transformation provided details of investments undertaken and return achieved in the first nine months of the current financial year and introduced the Treasury Management and Annual Investment Strategy 2021/22. 

 

In addition, the report made reference to non-treasury management practices and the required procedures to ensure compliance with the Treasury Management and Prudential Codes of Practice and Statutory Guidance on Local Government Investments.   A ‘practice note’ which was to be applied to any assessment of a non-treasury investment and its subsequent management was attached as Annex 6.

 

RECOMMENDED:  That

 

(1)             the treasury management position as at 31 December 2020 and the reduced level of income incorporated in the 2020/21 revised estimates be noted;

 

(2)             the Treasury Management and Annual Investment Strategy 2021/22 (set out at Annex 5 to the report) be adopted; and

 

(3)             the practice note (set out at Annex 6 to the report) to be applied to the assessment and management of a non-treasury investment be endorsed.

 

*Referred to Cabinet

Decisions to be taken under Delegated Powers

AU 21/5

Accounting Policies pdf icon PDF 185 KB

This report presents the Accounting Policies proposed for the 2020/21 Financial Statements for consideration and endorsement.

Additional documents:

Minutes:

The Accounting Policies proposed for the 2020/21 Financial Statements were presented for consideration and endorsement.  It was noted that only minor changes were required to those adopted for 2019/20 and related to revaluation on an annual basis of investment properties and the inclusion of insured value in regard of heritage assets.

 

RESOLVED:  That the Accounting Policies presented in the report to be used in the preparation of the 2020/21 Financial Statements (as set out in Annex 1) be endorsed.

AU 21/6

Annual Review of Anti-Fraud, Bribery and Corruption Policy and Whistleblowing Policy pdf icon PDF 221 KB

This report informs Members of the outcome of the annual review of the Council’s Anti-Fraud, Bribery and Corruption Policy and Whistleblowing Policy.

Additional documents:

Minutes:

The report informed Members of the outcome of the annual review of the Borough Council’s Anti-Fraud, Bribery and Corruption Policy which resulted in enhancements being made to align with the Fighting Fraud and Corruption Locally Strategy produced by local government for local government.

 

The Whistleblowing Policy was also presented, no changes to which were considered necessary following the annual review.

 

RESOLVED:  That

 

(1)          the Anti-Fraud, Bribery and Corruption Policy (attached at Annex 1) be approved; and

 

(2)          the General Purposes Committee be invited to approve the Whistleblowing Policy (attached at Annex 2)

 

AU 21/7

Annual Review of Anti-Money Laundering Policy pdf icon PDF 214 KB

This report gives details of the outcome of the annual review of the Council’s Anti-Money Laundering Policy and supporting guidance notes.

Additional documents:

Minutes:

The report of the Director of Finance and Transformation gave details of the outcome of the annual review of the Council’s Anti-Money Laundering Policy and supporting guidance notes. 

 

Reference was made to the 6th Anti-Money Laundering Directive issued in December 2020 and which was taken into account in the review.  However, no changes to the Policy were considered necessary at this time.

 

RESOLVED:  That the Anti-Money Laundering Policy and supporting guidance notes (attached at Annexes 1 and 2 respectively) be approved.

Matters submitted for Information

AU 21/8

Internal Audit and Counter Fraud Update pdf icon PDF 224 KB

This report provides an update on the work of both the Internal Audit function and the Counter Fraud function for the period April to December 2020.

Additional documents:

Minutes:

Members were provided with an update on the work of both the Internal Audit function and the Counter Fraud function for the period April to December 2020. Progress against the 2020/21 Plan was also reported and noted.

 

Particular reference was made to the requirement to undertake an External Quality Assessment in 2021.  An external assessor had been procured, in partnership with Kent County Council, and the process was due to start in February.

AU 21/9

Grant Thornton Audit Progress Report and Sector Update pdf icon PDF 114 KB

This report presents an Audit Progress Report and Sector Update from the external auditors on emerging national issues and developments.

Additional documents:

Minutes:

The report of the Director of Finance and Transformation introduced the Audit Progress Report and Sector Update prepared by Grant Thornton on emerging national issues and developments relevant to the Borough Council.  Mr Paul Dossett, Engagement Lead, presented the reports and answered questions raised by Members.

AU 21/10

Annual Audit Letter pdf icon PDF 109 KB

This informs Members of the receipt of the Annual Audit Letter for the year ended 31 March 2020.

 

Additional documents:

Minutes:

The report of the Director of Finance and Transformation advised Members of the receipt of the Annual Audit Letter for the year ended 31 March 2020.  The content was noted.

AU 21/11

Exclusion of Press and Public pdf icon PDF 4 KB

The Chairman to move that the press and public be excluded from the remainder of the meeting during consideration of any items the publication of which would disclose exempt information.

Minutes:

There were no items considered in private.