Venue: Committee Rooms, 2nd Floor, West Wing, Guildhall
Contact: Email: Kerry.Nicholls@cityoflondon.gov.uk
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As Andrew McMurtrie had stood down as Chairman of the Finance, Audit and Risk Committee prior to the meeting, Trustees unanimously agreed that Peter Bennett be elected Chairman for the meeting. A permanent Chairman of the Finance, Audit and Risk Committee would be appointed by the Board of Trustees at its meeting on 5 September 2019. |
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Apologies Minutes: Apologies for absence were received from Deputy Clare James. |
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Declarations Minutes: Dawn Elliott declared that she was a Director and the Chair of Governors for the City Academy, Hackney. |
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To agree the public minutes of the meeting held on 28 February 2019. Minutes: RESOLVED, that the minutes of the meeting held on 28 February 2019 be approved as a correct record. |
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Questions Minutes: There were no questions. |
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Any Other Business that the Chairman considers Urgent Minutes: There was no other business. |
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Trust Finance Policies PDF 43 KB Report of the Chief Financial Officer.
Please note: This report has been moved from non-public session (Item 13) Additional documents:
Minutes: Trustees considered a report of the Chief Financial Officer presenting updated finance policies and the following points were made:
· A number of minor changes had been made to City of London Academies Trust finance polices. This included a new requirement in the Finance Policy for academies to provide a brief benchmarking report to the annual Financial Scrutiny/Review meeting and more scope within the Procurement and Tendering Policy for academies to utilise goods and services frameworks. It was now specified within the Gifts and Hospitality Policy that school funds must not be used to purchase alcohol; however, this did not preclude the purchase of alcohol through other funds, such as by Parent Teacher Associations.
· A Trustee requested further amendments be made to the Procurement and Tendering Policy to outline Tender Opening Procedures for electronic tenders. The Chairman noted that this procedure should specify that all electronic tenders be opened at the same time. The Director of Information and Communications Technology would be requested to identify a possible technological solution, such as the use of secure e-mail addresses or a portal.
RESOLVED, that Trustees recommend the following updated policies to the Trust Board for formal approval at its next meeting on 11 July 2019:
· Finance Policy; · Procurement and Tendering Policy; · Gifts and Hospitality Policy; · Charging and Remissions Policy; · Reserves Policy; and, · Investment Policy.
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Exclusion of the Public Minutes: RESOLVED, that the public be excluded and that Trustees move into private session. |
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Non-Public Minutes To agree the non-public minutes of the meeting held on 28 February 2019. Minutes: RESOLVED, that the minutes of the meeting held on 28 February 2019 be approved as a correct record. |
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Outstanding Actions Report of the Clerk. Minutes: Trustees considered a report of the Clerk regarding outstanding actions arising from previous meetings. |
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Chief Financial Officer's Update Report of the Chief Financial Officer. Minutes: Trustees considered an update report of the Chief Financial Officer. |
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2019-20 Budget Planning Report of the Chief Financial Officer. Minutes: This item was withdrawn. |
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Health and Safety Report of the Chief Financial Officer. Minutes: Trustees considered a report of the Chief Financial Officer regarding health and safety in City of London Academies Trust schools. |
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Risk Register Report of the Chief Financial Officer. Minutes: Trustees considered a report of the Chief Financial Officer regarding the strategic risk register for the Trust. |
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Trust Finance Policies Report of the Chief Financial Officer. Minutes: This item was moved into the public session and considered as Item 5A: Trust Finance Policies. |
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Human Resources and Staffing Update Report of the Human Resources Director. Minutes: Trustees considered an update report of the Human Resources Director regarding Human Resources and Staffing.
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Cluster Support Structures Implementation The Chief Executive Officer to be heard. Minutes: Trustees heard the Chief Executive Officer provide an update on Cluster Support Structures Implementation. |
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Non-Public Questions Minutes: There were no questions. |
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Any Other Business that the Chairman considers Urgent and the Committee Agrees can be considered whilst the Public are Excluded. Minutes: There was one item of other business. |
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Confidential Minutes To agree the confidential minutes of the meeting held on 6 December 2018.
Minutes: RESOLVED, that the confidential minutes of the meeting held on 6 December 2018 be approved as a correct record. |