Agenda item

6.1  The Corporate Risk Adviser introduced the report updating members on the current Finance and Corporate Resources Directorate Risk Register of the Council as at October 2022. It also identified how risks within the Council are identified and managed throughout the financial year and our approach to embedding risk management.

6.2  The Corporate Risk Adviser highlighted the following risks: 

·  The cost of living crisis and the broader impacts on increased costs for the council including on contractors and suppliers.

·  Pressures on temporary accommodation;

·  The aftermath of the cyber-attack - although recovery was proceeding well, vulnerabilities remained.

6.3  Councillor Garbett referred to the high turnover of  Council staff and

  asked for clarification on any trends that emerged from the exit polls. 

6.4  The Corporate Risk Adviser told the Committee that the high turnover

centred on the ICT Department. The Group Director of Finance and Corporate Resources reported that ICT staff had highly transferable skills and significant numbers of staff had left to other organisations. The Recruitment and Retention Package was under review.

6.5   Councillor Troughton asked for clarification on the impact of the current

interest rate rises on the Capital Programme. She asked how decisions on prioritisation of projects were made and whether ward councillors were involved in the process.

6.6  Councillor Smyth asked for details of any action currently taken in relation to the Capital Programme and whether improvements would be made to the current strategy to mitigate against the increase in interest rates.

6.7  Councillor Gordon asked for an update on the current difficulties with 

  temporary accommodation and any solutions being explored.

6.8  The Group Director of Finance and Corporate Resources highlighted:

·  That the levels of expenditure on capital was very significant with a

current increase in costs. Schemes were being reviewed to ascertain ongoing affordability and viability with an increase in resourcing or reprofiling in relation to some schemes. Work was ongoing to ensure that the best was made of the available opportunities with creative procurement. Further, the Council had refreshed its approach to the Capital Programme to improve monitoring and profiling. The Group Director of Finance and Corporate Resources offered a session on this matter at a future meeting of the Committee.

  Action: Group Director of Finance and Corporate Resources 

·  That efforts were taken to manage slippage in  relation to the highways

management programme. A detailed management plan was in place and work was carried out on a priority basis with the acceleration of schemes and amalgamation of projects where appropriate. 

·  Temporary accommodation was a priority with consideration being

given to the Council’s approach in this area, reflecting demand. A further hostel was to be purchased in the Woodberry Down area. 

6.9  The Director of Financial Management highlighted

·  That it was necessary to consider the viability and affordability of

schemes;

·  There was a need to improve on profiling of capital schemes;

·  The capital governance arrangements were currently being

·  strengthened;

·  Borrowing in advance was not carried out to ensure that additional

interest rates were not incurred.

6.10  The Chair asked that an update be made to the next meeting on the Capital Programme.

  Action:  The Group Director of Finance and Corporate Resources

  RESOLVED:

To note the report and the Directorate Risk Register.

RESOLVED:

·  To note the report and the Risk Register.