Agenda item

Report of the Town Clerk.

The Committee considered a report of the Town Clerk concerning the annual review and approval of the Terms of Reference for the Audit Risk Management Committee.

The following points were noted:

• Membership Updates: Amendments were requested to update titles and Membership. The Town Clerk advised that this takes place prior to submission to the Court of Common Council meeting in April 2025.
• Service Periods: Members noted that three Members, were nearing the maximum service period of nine years within any 12-year period. They suggested starting a campaign to find replacement talents for those stepping down next year.
• Net Zero Reporting: A question was raised about the committee's role in mandatory net zero reporting. Officers discussed the upcoming international standards on sustainability reporting and the potential for early adoption by the corporation.
• Risk Appetite: A Member noted that risk appetite was not included in the terms of reference and emphasised its importance. It was agreed to take this away for further consideration.
• Public vs. Private Items: A Member suggested clarifying how decisions are made about what items are public versus private, The Town Clerk clarified that this is defined in Part I of Schedule 12A of the Local Government Act and is set out for any materials that are to be considered in non-public.
• Hybrid Meetings: A Member raised the possibility of hybrid meetings following the announcement by the Government. The Town Clerk noted that any implications may not be seen for some time, however, this would be kept under review and monitored.

RESOLVED – That Members, Agree that the terms of reference of the Audit Risk Management Committee, subject to any comments, be approved for submission to the Court of Common Council in April, and that any further changes required in the lead up to the Court’s appointment of Committees be delegated to the Town Clerk in consultation with the Chairman and Deputy Chairman.