Agenda item

Report of the Chamberlain.

The Committee received a report of the Chamberlain concerning the external auditor’s Annual Audit Report summarising all of the work that Grant Thornton has undertaken in relation to the City Fund during 2023-24.

The following points were noted:

• Key Findings: The report contained a significant number of amber ratings, indicating areas for improvement. There were no red ratings, which would indicate significant weaknesses.
• Comparative Context: It was noted that other local authorities often have reports with red ratings, making the absence of red ratings in this report a positive aspect. Green ratings are rare, and the presence of some greens in this report is commendable.
• Recommendations and Actions: The report included several recommendations for improvement, with some actions scheduled to be completed within six months. There was a discussion on the feasibility of meeting these deadlines.
• Next Steps: The Chamberlain's team will gather all recommendations and work on implementing them, with an expectation of seeing more green ratings in the next year's report as progress is made.