Report of: Head of Financial Services

Purpose of report: to update the Committee on both corporate and service risks as at the end of Quarter 3, 31 December 2016.

Recommendation: to consider and note the report.

The Committee considered the report of the Head of Financial Services on both corporate and service risks as at the end of Quarter 4, 31 March 2017.

The Committee asked in information about staff turnover, permanent and temporary staff numbers and vacancies on the next risk report.

The Committee resolved tonote the report.

Report of: Head of Financial Services

Purpose of report: To update the Committee on both corporate and service risks as at the end of Quarter 3, 31 December 2016.

Recommendation: That the Audit & Governance Committee considers and notes the report.

The Committee considered the report submitted by the Head of Financial Services setting out both the corporate and the service risks as at the end of Quarter 3, 31 December 2016. The Management Accountancy Manager introduced the report.

The Committee discussed the risks and mitigation measures in place for:

·         the two corporate red risks and the new red service risk relating to out of town taxis;

·         the two risks CRR32 (delivery of financial plan) and CRR33 (Housing) which were of concern;

·         CRR31 (Supporting economic growth) was tracked and may become a higher risk with time;

The Committee asked for more details on the risks and how these were calculated and mitigated. They noted the difficulty of using procurement and the social value act to effectively influence key risk areas such as homelessness. They asked whether the council’s companies should be added to tie risk register given the sums of money involved in these.

The Committee discussed the risks to the city’s housing stock and environment from the ‘sharing economy’ such as Uber and AirBnB.

They suggested the Head of Finance contact the team at De Montfort University studying of the effects of Brexit with a view to offering Oxford as a case study.

The Committee noted the report and the comments and asked for a report on the risks to the city’s housing stock and environment from the ‘sharing economy’ such as Uber and AirBnB.

Report of: Head of Financial Services

Purpose of report: To update the Committee on both corporate and service risks as at the end of Quarter 2, 30 September 2016.

Recommendation: That the Audit & Governance Committee considers and notes the report.

The Committee considered the report submitted by the Head of Financial Services setting out both the corporate and the service risks as at the end of Quarter 2, 30 September 2016. The Management Accountancy Manager introduced the report.

In discussion the Committee noted:

1.    The reduced number of corporate red risks, and the risk of a severe impact from loss of investment income.

2.    Risks associated with planning services had substantially reduced as the mitigation process had been completed.

3.    Risks from aged debt had reduced given the mitigation measures discussed earlier.

4.    Brexit’s impact did not feature but could be classed as a severe risk.

5.    Homelessness was not a high financial risk for the council because the budget contained sufficient increased funding to cover the expected costs and reports were coming to the Executive Board for additional resources. However it was clearly an increasingly severe problem and the committee were concerned that the financial risk does not adequately reflect the actual level of risk.

The Committee asked for more details on the risks and how these were calculated and mitigated.

The Committee noted the report.

Purpose:       To update the Committee on both corporate and service risks as at the end of Quarter 1, 30 June 2016.

Recommendation(s): That the Audit & Governance Committee:

1.            notes the content of the report

2.            reviews the revised corporate risk register (Appendix A)

3.            agrees the proposed change to the risk prioritisation matrix    (paragraph 3 and Appendix B).

The Committee considered the report submitted by the Head of Financial Services setting out both the corporate and the service risks as at the end of Quarter 1, 30 June 2016.

In discussion the Committee noted that several of the red service area risks related to problems with the ICT services.  They agreed that as many of the corporate risks were related to wider national or policy issues that were outside the Council’s direct control they should focus on reviewing the mitigation strategies in place to address these risks.

In response to questions the Head of Financial Services agreed to investigate whether the impact of climate change on the Council’s buildings in extreme hot weather was a significant risk factor.

The Committee resolved to:

1.    note the content of the report and the revised corporate risk register (Appendix A)

2.    agree the proposed change to the risk prioritisation matrix (paragraph 3 and Appendix B)