Agenda and minutes
Venue: Committee Room, Municipal Buildings, West Street, Boston PE21 8QR
Contact: Pippa Rose, Democratic Services Officer 01205 314228 email: pippa.rose@boston.gov.uk
Media
No. | Item |
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APOLOGIES To receive apologies for absence. Minutes: Apologies for absence were received from Councillors Chris Mountain and David Scoot. Councillor Helen Staples was in attendance as substitute for Councillor David Scoot. Jo Brigham, the Co-opted Independent Member, also sent her apologies. |
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To sign and confirm the minutes of the last meeting. Minutes: The Minutes of the previous meeting held 20th November 2023 were agreed and signed by the Chairman.
It was noted that Members wished for future minutes to include any actions that were raised within the meeting. |
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DECLARATION OF INTERESTS To receive declarations of interests in respect of any item on the agenda. Minutes: No declarations of interest were received. |
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PUBLIC QUESTIONS To answer any written questions received from members of the public no later than 5 p.m. two clear working days prior to the meeting – for this meeting the deadline is 5 p.m. on Wednesday 24th January 2024. Minutes: There were none. |
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DRAFT BUDGET REPORT 2024/25-2028/29 (A report of Christine Marshall, Deputy Chief Executive – Corporate Development & Section 151 Officer) Additional documents: Minutes: The Deputy Chief Executive – Corporate Development and Section 151 Officer gave a presentation on the 2024-25 Draft Budget for consultation, which set out the draft budget including the areas of pressure that would be considered as part of the budget setting process.
In response to Member questions the Deputy Chief Executive – Corporate Development & Section 151 Officer confirmed that;
Members discussed streamlining the large amount of information contained within the agenda packs in order to try and make the information easier to digest. This was noted and officers would consider options for managing this.
RESOLVED:
That the feedback and scrutiny of the Draft Budget and Medium Term Financial Strategy for the period 2024/25 – 2028/29 be provided to Cabinet on 21st February 2024 and Council on 4th March 2024 as part of the budget setting report. |
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(A report of Christine Marshall, Deputy Chief ExecutIve – Corporate Development & Section 151 Officer) Additional documents:
Minutes: The Interim Treasury & Investments Manager PSPSL introduced the Treasury Management Policy and Draft Treasury Management Strategy Statement, Minimum Revenue Provision Policy Statement and Annual Investment Strategy 2024/25 which had been brought to the Committee for scrutiny prior to submission to Cabinet and Council as part of the Budget Setting process.
The Council was required to set out its Treasury Management Statement, Minimum Revenue Provision Policy and Annual Investment Strategy for the forthcoming year. These outlined the Council’s strategy for borrowing and its policies for managing its investments and for giving priority to the security and liquidity of those investments.
It was confirmed that part of the treasury management operation was to ensure that the cash flow was adequately planned in order that cash raised during the year would meet the expenditure. Surplus monies would be invested in low risk counterparties or instruments commensurate with the Council’s low risk appetite, providing adequate liquidity initially before considering investment return.
The report proposed no changes to the Treasury Management Policy Statement.
In response to Members questions the Interim Treasury & Investments Manager (PSPS) confirmed that;
Members thanked the Interim Treasury & Investments Manager PSPS for his detailed report and expressed their trust in his work.
RESOLVED:
That the Treasury Management and the Treasury Management Strategy Statement, Minimum Revenue Provision Policy and Annual Investment Strategy 2024/25 be noted.
The meeting adjourned at 19.46pm for a comfort break. It then re-adjourned at 19.52pm. |
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APPROVAL OF FINANCIAL STATEMENTS 2021/22 (A report of Christine Marshall, Deputy Chief Executive – Corporate Development & Section 151 Officer) Additional documents:
Minutes: The Chief Finance Officer - PSPSL presented the audited Financial Statement for year ending 31st March 2022 which was required to be approved by the Committee as per the Accounts and Audit Regulations. It was confirmed that the audit of the statements was now substantially complete.
The Statements were considered by the Committee in March 2023, and were now back for Committee consideration due to changes in presentation of the Council’s share in PSPS and pensions assumptions and evaluations.
Following questions from the Committee the Deputy Chief Executive – Corporate Development & Section 151 Officer confirmed that a confidential note would be shared with the Committee in order to further explain figures contained within page 161 of the agenda pack.
RESOLVED:
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EXTERNAL AUDIT ANNUAL REPORT 2021/22 (A report from the Council’s External Auditor, Mazars) Minutes: The Director – Public Services, Mazars introduced the External Audit Annual Report 2021/22. It was best practice for the report to be issued within three months of the External Auditors’ publishing the Opinion on the Financial Statements for the year ending 31st March 2022. The report set out the work which had been completed by the External Auditors and confirmed that there were no significant weaknesses to report.
It was the responsibility of the External Auditor to review the underlying arrangements; including the Policies and Procedures such as Budgetary Control, Risk Management, Medium Term Financial Planning and improving efficiency economy and effectiveness.
Following questions from Members the Director – Public Services, Mazars confirmed that the report could only be brought to the Committee following the approval of the financial statements. The presentational information of PSPS had been changed which had delayed the Statements, along with other external factors.
RESOLVED:
That the report be noted. |
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EXTERNAL AUDIT COMPLETION REPORT 2021/22 - FOLLOW UP LETTER (Correspondence from the Council’s External auditor, Mazars) Minutes: The Director – Public Services, Mazars presented the Audit Completion report which confirmed that the Audit was substantially complete with only one area still outstanding.
A detailed report had been agreed by the Committee in the previous year. The letter confirmed that all work contained within that report had been carried out.
RESOLVED:
That the report be noted. |
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EXTERNAL AUDIT - VERBAL PROGRESS UPDATE 2022/23 (A verbal update from the Council’s External Auditor, Mazars) Minutes: The Director – Public Services, Mazars verbally updated the Committee on the progress of the 2022/23 Audit. It was confirmed that the since the 2021/22 Financial Statements had been closed the work on the 2022/23 Audit had been progressing well. It was predicted that the final report would be submitted to the next meeting of the Committee.
The Committee thanked the External Auditors for their work.
RESOLVED:
That the report be noted |
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INFORMATION GOVERNANCE ANNUAL UPDATE (A report of Richard Steele, Group Information Manager and Data Protection Officer) Minutes: The Group Information Manager and Data Protection Officer presented the Information Governance Annual Update. The purpose of the report was to update the Committee on the Council’s activities and compliance in respect of the Data Protection Act 2018, the Environmental Information Regulations and the Freedom of Information Act during the period October 2022 to October 2023.
The Committee was made aware that a new Freedom of Information Policy had been implemented in the previous year. It was noted that Freedom of Information requests had seen a 9% increase based on the previous year.
In response to Members questions the Information Manager and Data Protection Officer confirmed that;
Members requested regular updates on the sources and content of Freedom of Information requests considered to be patterned behaviour.
RESOLVED:
That the report be noted. |
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(For Members to consider the Committee’s work programme.) Minutes: The Committee Noted the Work Programme. |