Agenda item

Report of the Chief Strategy Officer.

Members received a report of the Chief Strategy Officer providing an update on the corporate and top red departmental risk registers.

A Member was concerned that there had been no changes to CR35 Unsustainable Medium-Term Finances, despite the current inflation situation. In reply, an officer said that CR35 had been considered by the Finance Committee, and the Chamberlain had explained at that the meeting that it had been kept unchanged due to the mitigating actions being taken. The Member accepted the explanation but said that they still felt it was a significant risk and were worried that it was being presented at a steady state.

A Member said the impact of supply chain issues was also a critical risk. They suggested it would be worth having a deep dive into this issue. An officer replied that officers were looking at broader areas than just inflation and that they could feed this back to the Risk Officer Group.

RESOLVED, that – Members:

• Note the report and the corporate and top red risk registers, which now reflect the changes reported at the last Committee meeting, and that there had been no additions/de-escalations since then
• Note that further to discussion at the May Committee:
  • CR02 (Loss of Business Support to the City) and CR10 (Adverse Political Developments) have been reviewed by the Internal Audit Team and are included in Committee papers separately (Corporate Risk – Deep Dive Review: CR02 Loss of Business Support for the City and CR10 Adverse Political Developments).  CR17 (Safeguarding) had been updated.
  • CR35 (Unsustainable Medium-Term Finances) had been updated and was discussed at Finance Committee on 14 June.