Issue - meetings

Report of the Director of Corporate Resources.

Referral from the Audit Committee.

Cabinet is recommended to:

Approve the initial assessment, set out at Appendix 2 to the report, of the Council’s assessed level of compliance with the standards in the Code and the resulting actions required.

The Director of Corporate Resources introduced a report, which had been circulated in advance of the meeting, which presented the Financial Management Code that had been recommended for adoption by the Audit Committee.

Members paid tribute to the hard working staff in the finance department and asked that a letter of thanks is sent to them.

RESOLVED to:

Approve the initial assessment, set out in Appendix 2 to the report, of the Council’s assessed level of compliance with the standards in the Code and the resulting actions required.

Report of the Director of Corporate Resources.

The Director of Corporate Resources introduced a report, which had been circulated in advance of the meeting, informing Members of the introduction of CIPFA’s Financial Management Code (the Code) as a framework to support good practice in local authorities by the setting of standards of financial management. The report outlined how it is considered that the Council presently adheres to this and set out details of proposed actions intended to ensure full compliance.

RESOLVED to:

1)    Note the introduction of the CIPFA Financial Management Code and that 2021/22 will be the first year for which full compliance will be required;

2)    Note the initial assessment set out in appendix 2 of the Council’s assessed level of compliance with the standards in the Code and the resulting actions required and refer it to Cabinet for approval; and

3)    Note that progress towards the actions identified will be monitored by the Audit Committee through the production and monitoring of the Annual Governance Statement.