Agenda item

Report of the Chamberlain.

The Committee received a Report of the Chamberlain concerning CR35 (Medium-Term Financial Plan Risk)

Whilst welcoming the content of the Report and the positive direction of travel i.e. red to amber, Members were acutely aware of the paramount importance and assumptions built into the Medium-Term Financial Plan; they were, therefore, keen that officers establish a tailored set of KPIs, which, if triggered, would elevate CR35 back up to red. Whilst Members expected officers to mitigate the risk, they emphasised that we should treat  Risk Maps as dynamic documents; quite simply, if the picture worsened then the risk should be returned to red without undue delay.

The Chairman stressed that, whilst officers should come back to Finance Committee and Audit & Risk Management Committee with a proposal on KPI triggers for CR35, A&RM should be the Committee to make a final decision on this matter.

Whilst multiple officers were involved with helping to mitigate this risk, the Deputy Chamberlain confirmed that she was the overall owner of CR35.

Separately, the Chairman of the Police Authority Board thanked the Chamberlain for his sterling work in helping to reduce the Police’s finances risk (CR23) from red to amber and deliver a balanced budget for 2021/22.

RESOLVED – that the Committee noted the Report.