Issue - meetings

To note the report from Mazars.

Lead: Campbell Dearden andKaren Murray

7.1             Ms Murray presented the External Audit Report. She explained that there is a small amount of work outstanding relating to pension assurance; they are waiting for the pension fund auditor to provide assurance on the work that they have done. She stated that this should be received by the end of the month. Ms Murray also stated that there is a review of the narrative report still outstanding; this was outstanding when the report was drafted but has now been finalised and the audit is complete. Members were informed that the accounts were of good quality and supported by good working papers and cooperation from the Finance team.

7.2          Cllr Little highlighted the changes within the Finance Team since the departure of former Finance Director Mr Iain Craven. Cllr Little gave thanks on behalf of the Board for the continuity of work provided.

7.3          Mr Brady raised the issue around the risk of financial sustainability going forward with Members expressing concern that this is a significant risk. Mr Brady stated that this needs to be kept at the forefront of the Committee’s minds going forward. He explained that  this was able to be mitigated against last year but was concerned that this would not be the case this year.

7.4          Mr. Kelly explained that the timeline for the submission has been extended to November with TfN wanting to try and get the accounts signed and published by the end of September, but this will now be later. He proposed that the Committee approve the accounts subject to the receipt of the audit reports for the pension fund and explained that his recommendation to the Board would be the same. He explained that in the unlikely event that the pension audit report is not “clean” on receipt, and the accounts needs to be adjusted, the process would need to start again.

7.5          On the issue of financial sustainability Mr Kelly  explained that the Memorandum of Understanding (MOU) was in place that underwrites the activities and costs of TfN. He also highlighted that there is a reducing level of reserves from earlier core grant allocations. The Committee were informed that encouraging discussions are taking place with the Department regarding incremental services. He stated his belief the outlook is positive compared to a year ago and the Department are being supportive.

7.6          The Chair raised the issue of leavers and data and system access which he believes is potential data loss prevention. He requested that the risk register be reviewed from a management perspective and whether anything could be added on data loss. Ms Della-Cerra-Smith indicated that data loss is covered in the cyber security section.

7.7          Mr. Dearden expressed his thanks to Mr Spilsbury and Mr Kelly and their team for a smooth audit and very few audit findings.

RESOLVED:

That the Committee notes the External Audit Completion report.

To note the report from Mazars.

Lead: Campbell Dearden andKaren Murray