Agenda and minutes

To approve as a correct record the minutes of the Audit Committee held on 25 June 2020

A.1/20 

The minutes of the meeting of the Committee held on 25 June 2020 were confirmed as a true and correct record.

Members are invited to declare any personal or disclosable pecuniary interests they may have, including the nature and extent of such interests, in any items to be considered at this meeting;

A.2/20             

Members and officers were invited to declare any interests in the items of business to be considered during the course of the meeting, but none were made.

A.3/20             

At its request, the Committee considered a report that outlined the potential benefits and impacts of being a ‘non-voting’ partner of the Devon Audit Partnership in comparison to being a ‘full’ partner.

In discussion, the Committee recognised that the current relationship was working particularly well for both partners and support was expressed for the report recommendation.

It was then:

RESOLVED

That the continued membership of the Devon Audit Partnership as a ‘non-voting’ member be endorsed.

A.4/20             

The Committee considered a report that summarised the Council’s current external audit arrangements and the background of the Public Sector Audit Appointments (PSAA).

In discussion, the previously raised frustrations over the ability for External Audit Fees to be increased without prior warning were repeated.

It was then:

RESOLVED

That the contents of the report be noted.

A.5/20             

A report was considered in light of the following Executive recommendation being made at its meeting held on 18 June 2020 (Minute E.89/19 refers):

‘That the Audit Committee Work Plan be updated to ensure that the Risk Management elements of the Ivybridge Regeneration project be considered at a future meeting.’

In debate, the following points were raised:-

(a)     Officers confirmed that the Risk Register for the project continued to evolve and, in the event of any significant changes being made, an updated version would be circulated to Members;

(b)     In light of Members wishing to consider the exempt appendices, it was PROPOSED and SECONDED and on being put to the vote declared CARRIED that:

‘In accordance with Section 100(A)(4) of the Local Government Act 1972, the public and press be excluded from the meeting during consideration of the following item of business as the likely disclosure of exempt information as defined in paragraph 3 of Schedule 12A to the Act is involved.’

Having been informed that the next gateway decision on the project was due to be made at the Council Meeting to be held on 24 September 2020, some Members proceeded to express the view that the Council should wait for the full impact of the COVID-19 Pandemic to be realised.

Contrasting views were also expressed with regard to the principal of repaying 50% of the Debt over a 50 year term.  As a result, the Committee requested that:

‘The Business Case also takes into account the principal of paying back 100% of the Capital Debt over a 50 year term.’

Once the Committee was content that it had no further questions and issues to raise that related to the exempt appendices, it was then PROPOSED and SECONDED and on being put to the vote declared CARRIED that:

‘The public and press be re-admitted to the meeting.’

It was then:

RESOLVED

That the Committee has considered the Risk Management elements of the Ivybridge Regeneration project and specifically requests that the Business Case also takes into account the principal of paying back 100% of the Capital Debt over a 50 year term.