Agenda item

Report of the Chamberlain.

The Committee considered a report of the Chamberlain which provided the quarterly update regarding the Chamberlain’s Departmental Risk Register.

Members discussed CR16 (Information Security) and commented that both the risk likelihood and risk impact appeared to be too low. Members commented that this was a risk which had an inherently high likelihood and impact, and reducing the degree of either to acceptable levels may be challenging. However, Members agreed that it was important that the risk was rated accurately, to ensure that it had due prominence and attention.

The Chamberlain commented that an additional risk was likely to be added to the Corporate Risk Register in relation to the process for the devolution of Business Rates. A Member requested that, for those Members new to the Court of Common Council, it would be helpful to have some background information in relation to this issue. The Chairman explained that this was an important risk for the City Corporation as, while the City Corporation supported devolution of business rates to more local areas, it was likely that, in the London region, any needs-based formula would not benefit the City Corporation. Therefore, the important factor for the City Corporation was to ensure that there was recognition of the difference between the City’s position and that of the rest of London. He explained that, if this was recognised, it was likely that the City Corporation would have to be excluded from any formula..

A Member asked whether the City Corporation was doing enough to lobby Government on this issue. The Chamberlain explained that this was an activity in which he and the City Remembrancer were engaging.

A Member asked for further information regarding Risk CHB014 (Loss of ESF Funding for Central London Forward CESI Program). The Chamberlain explained that the extent of the loss of ESF funding was still being discussed with the Greater London Authority and he expected to be able to provide an update to the Committee’s next meeting.

RESOLVED – That the Committee notes the report.