Agenda item

ACTION

OFFICER

Councillor Harper had requested data regarding complaints from a longer period than previously provided by Officers. 

Andrew Moulton

Councillor Davies had requested a simplified summary of the infrastructure assets and how they were stated in the accounts.

Graham Cadle

In response to a query from Councillor Kaiser regarding the possibility of representation from the Council on the Pension Board given the fact the Council was a large contributor, the Assistant Director Finance clarified that how this governance was arranged was set by guidance.  He would summarise the guidance and share it with the Committee.

Graham Cadle

Councillor Gee commented that she had previously requested more detail in the Treasury Management reports.  She wanted information on the borrowing structure over different periods with the interest rates and the maturity dates of those borrowings. 

Graham Cadle

In response to a question from Councillor Gee, the Assistant Director Finance explained that the Town Centre regeneration business case had included the requirement to provide funding and for the return of income and the sale of properties to repay the debt and interest charges.  A higher interest rate had been included in the business case.  As the work was nearing completion a detailed review had been undertaken.  The level of charge was higher than the Council was reflecting and the charges of interest to that fund had been amended.  Councillor Gee queried whether this was a switch on the return of community investments and the financing costs in the General Fund.  The Chief Accountant agreed to check this, but confirmed it was a movement as to which line this was classified on.

Mark Thompson

Mike Drake agreed it would be useful to have information on the interest rates for the different maturities of the borrowings.

Graham Cadle

Treasury Management - Councillor Gee requested further narrative in the report about what was certain and what was uncertain.

Graham Cadle

Councillor Harper was of the opinion that the risk around the website replacement project was significant and should come to the Committee. 

Andrew Moulton

The Assistant Director Governance commented that CIPFA had produced a lessons learnt report from those authorities that had issued Section 114 notice.  An assurance report which would highlight the assurances in place in Wokingham, would be presented to the Committee in the new year.

Andrew Moulton

Safety Valve - Councillor Gee suggested inviting the Director Children’s Services and the Executive Member Children’s Services to a future meeting to provide an update.

Helen Watson/Prue Bray

The Assistant Director Governance agreed to check the relevant Director and Executive Member for the cyber security and information governance risks.

Andrew Moulton

Councillor Kaiser noted that there was £16.5million of debt over 30 days.  The Assistant Director Finance commented that some of this could be with other public bodies, which reduced the risk.  Work was being undertaken around the debtors service.  Members would be provided with a breakdown of the £16.5million.

Graham Cadle

Internal Audit report – Mike Drake suggested the inclusion of a management comment on how risk concerns were being addressed.

Catherine Hickman

The Head of Internal Audit and Investigations agreed to check if there were any overdue high risk concerns.

Catherine Hickman

Visibility of community assets audit.

Catherine Hickman

Councillor Kaiser referred to a delay in charges for deferred care payments.  He questioned what was meant by ‘alternative recovery methods are being sought.’  The Assistant Director Finance agreed to feed back on this matter.

Graham Cadle

The Assistant Director Governance informed the Committee that a report on the CIPFA Code of Financial Management would be taken to the next Committee meeting.

Andrew Moulton

Audit Committee annual report to be presented at March meeting.

Andrew Moulton