Agenda and draft minutes

Venue: Virtual Public Meeting (Accessible Remotely)

Contact: Chloe Rew  Email: chloe.rew@cityoflondon.gov.uk

Note: Virtual Public Meeting (Accessible Remotely) 

Items
No. Item

1.

Opening Remarks - Welcome to New External Member

Minutes:

The Chairman opened the meeting welcoming Dan Worsley and formally moved a vote of thanks to Kenneth Ludlam.

 

RESOLVED UNANIMOUSLY, that – Members of the Audit and Risk Management Committee wished to place on record their sincere appreciation to:

 

KENNETH LUDLAM, who stood down from the Committee after the conclusion of his third term. He was a most active and diligent member of the committee and one of this Committee’s representatives on the Police Authority Performance Sub Committee, where his contribution was also greatly valued. In taking their leave of Kenneth, his colleagues on the Audit & Risk management Committee wished to express its sincere thanks to him for his valuable contributions over the past nine years, and hope that he looks back with pleasure at his association with the City of London Corporation.

 ...  view the full minutes text for item 1.

2.

Apologies

Minutes:

Apologies were received from Alderman John Garbutt.

 ...  view the full minutes text for item 2.

3.

Members' Declarations under the Code of Conduct in respect of items on the Agenda

Minutes:

There were none.

 ...  view the full minutes text for item 3.

4.

Minutes of the previous meeting pdf icon PDF 91 KB

To agree the public minutes and non-public summary of the meeting held on 28 January 2020.

 ...  view the full agenda text for item 4.

Minutes:

RESOLVED – that, the public minutes and non-public summary of the previous meeting held 28 January 2020 be agreed as a correct record.

 

Matters arising:

 

With respect to item 12: City of London Police Freedom of Information Requests Update, the Chairman confirmed that there was no longer a backlog of Freedom of Information requests.

 ...  view the full minutes text for item 4.

5.

Committee Work Programme pdf icon PDF 139 KB

Member are asked to agree the revised Committee Work Programme.

 ...  view the full agenda text for item 5.

Minutes:

RESOLVED – that the amended Committee Work Programme be agreed, noting the following updates provided in the meeting:

 

1.    the September 2020 meeting has been rescheduled to 1 October 2020;

2.    the informal risk challenge sessions would be reintroduced from October 2020;

3.    the Chamberlain advised that although the dates in the work programme for accounts production, audit and sign off were on track, there was a possibility that new factors relating to the COVID-19 crisis could cause delays, however the Chamberlain’s department was working to adhere to deadlines. The Chairman noted that the government had relaxed deadlines.

 ...  view the full minutes text for item 5.

6.

Annual Governance Statement 2019/20 pdf icon PDF 91 KB

Joint report of the Town Clerk & Chief Executive and the Chamberlain.

 ...  view the full agenda text for item 6.

Additional documents:

Minutes:

Members considered a joint report of the Town Clerk & Chief Executive and the Chamberlain relative to the Annual Governance Statement 2019/20 (AGS). Members agreed the AGS subject to amendments with respect to fire enforcement notices referenced at paragraph 68; and, an additional paragraph regarding the COVID-19 crisis.

 

RESOLVED, that Members:

1.    approve the AGS set out in Appendix 1 for signing by the Chair of the Policy and Resources Committee and the Town Clerk and Chief Executive;

2.    note that the AGS will be published alongside the 2019/20 City Fund and Pension Funds Statement of Accounts;

3.    note the future work programme in paragraph 105 of the AGS to improve the governance framework; and,

4.    delegate authority to the Town Clerk and Chief Executive, in consultation with the Chairman and Deputy Chairmen of this Committee, to amend the AGS for any significant events or developments relating to the governance arrangements that occur prior to the date on which the Statement of Accounts is signed by the Chamberlain.

 ...  view the full minutes text for item 6.

7.

2019/20 Annual Report of the Audit and Risk Management Committee pdf icon PDF 66 KB

Report of the Chairman of the Audit and Risk Management Committee.

 ...  view the full agenda text for item 7.

Additional documents:

Minutes:

The Chairman presented to the Committee the 2019/20 Annual Report of the Audit and Risk Management Committee. Members proposed amendments which would be included prior to presentation to the Court of Common Council on 18 June 2020.

 

RESOLVED – that Members agree the 2019/20 Annual Report of the Audit and Risk Management Committee for onward submission to the Court of Common Council.

 ...  view the full minutes text for item 7.

8.

Risk Update pdf icon PDF 275 KB

Report of the Chamberlain.

 

To be read in conjunction with the non-public appendix at Item 14.

 ...  view the full agenda text for item 8.

Additional documents:

Minutes:

Members received for discussion a report of the Chamberlain relative to the Corporate Risk Update. The following points were noted:

·         CR01 Resilience Risk to be reviewed, re-rated, and reported back to Committee;

·         CR34 COVID-19 (Response) to be reworded to reflect recovery phase; financial impact of COVID-19 to be assessed separately;

·         CR25 GDPR Compliance Risk has been de-escalated to departmental risk;

·         CR26 Brexit risk to be reviewed in light of upcoming government statement.

·         Increase of risks across the Corporation from 344 to 393 not solely related to COVID-19, as new departmental risk register has been developed in the Town Clerk’s (ie. Cultural and Visitor Development division);

·         With respect to risk appetite, the level of risk Members would be prepared to accept may become an issue going forward, for example with respect of investments. Reduction in risk appetite may impact re-budgeting in the future. Will need to strike balance with Resource Allocation Sub-Committee and Chamberlain’s will bring this issue back to this Committee in the future.

 

 

RESOLVED – that, the report be received and its contents noted.

 ...  view the full minutes text for item 8.

9.

Questions on matters relating to the work of the Committee

Minutes:

There were no questions.

 ...  view the full minutes text for item 9.

10.

Any other Business that the Chairman considers urgent

Minutes:

There was one item of other business with respect to membership of the Nominations Sub-Committee which would reconvene in the coming months to recruit for an external member vacancy.

RESOLVED – that, Dan Worsley be appointed to the Nominations Sub-Committee.

 ...  view the full minutes text for item 10.

11.

Exclusion of the Public

MOTION, that – under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

 ...  view the full agenda text for item 11.

Minutes:

RESOLVED, that – under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

 

Item

Paragraph

12-14

3

 

 

 ...  view the full minutes text for item 11.

12.

Non-Public Minutes of the previous meeting

To agree the Non-Public minutes of the meeting held on 28 January 2020.

 ...  view the full agenda text for item 12.

Minutes:

RESOLVED – that, the non-public minutes of the previous meeting held on 28 January 2020 be agreed as a correct record.

 ...  view the full minutes text for item 12.

13.

Deep Dive - CR34 COVID-19

Report of the City of London Corporation Gold Group.

 ...  view the full agenda text for item 13.

Minutes:

Members received for discussion a report of the City of London Corporation Gold Group relative to a Deep Dive of Corporate Risk 34: COVID-19.

 

 ...  view the full minutes text for item 13.

14.

Non-Public Appendix to the Risk Update Report

Appendix to be read in conjunction with the report of the Chamberlain at Item 8.

 ...  view the full agenda text for item 14.

Minutes:

Members received the non-public appendix in conjunction with the report of the Chamberlain at agenda item 8.

 ...  view the full minutes text for item 14.

15.

Non-Public questions on matters relating to the work of the Committee

Minutes:

There were no questions.

 ...  view the full minutes text for item 15.

16.

Any Other Business that the Chairman considers urgent and which the Committee agree should be considered whilst the public are excluded

Minutes:

There was no other business.

 ...  view the full minutes text for item 16.