Agenda and minutes

No declarations of interest were made.

The Chair, on behalf of the Committee, congratulated Jan Furtek who has been successfully appointed to the role of Chief Internal Auditor.  

The Chair also welcomed new Lay Member Siwan Davies to the meeting.

https://youtu.be/ED6iYvC6bgg?si=YVRPIueUjHc2Qf4i&t=17

No members of the public were present.

The Action List from the previous meeting was noted:

https://youtu.be/ED6iYvC6bgg?si=0X2WYHjQdbiew7xt

·       Completion rate of mandatory training for all staff on Anti Fraud, Bribery and Corruption: The Chief Internal Auditor responded that the main update will be incorporated within the Anti Fraud Risk Assessment due in October. An update with some informal statistics will be provided at the next meeting.

The Head of Finance /Section 151 Officer presented a report to provide the latest six-monthly update of the Council’s Medium Term Financial Plan (MTFP), reflecting updated assumptions, risks, and strategic context. The report outlines the projected budget gap for 2026/27 and the medium term and outlines the context for developing a balanced budget.  Following presentation of the report, Committee Members were invited to ask questions:

https://youtu.be/ED6iYvC6bgg?si=eMCWGTpeKseoRmxJ&t=59

As contained in the report recommendations, the Governance and Audit Committee:

·        Noted the updated projected revenue budget shortfall of £13.6 million for 2026/27 and a cumulative shortfall of £38.0 million over the medium term.

·        Noted the outline budget setting timetable as outlined in Appendix 1.

·        Noted the progress against the Medium Term Financial Strategy (MTFS) delivery plan, as detailed in Section 14 of Appendix 1.

The Finance Business Partner and the Head of Finance/Section 151 Officer presented the 2025/26 Quarter 1 Treasury Management Performance Update. Following presentation of the report, Committee Members were invited to ask questions:

https://youtu.be/ED6iYvC6bgg?si=t926ulCpeEZEKXDy&t=2406

As per the report recommendations, the Governance and Audit Committee reviewed the results of treasury management activities and the performance achieved in quarter 1 as part of their delegated responsibility to provide scrutiny of treasury policy, strategy and activity on behalf of Council.

The Head of Finance/Section 151 Officer presented the Draft Statement of Accounts to provide Governance and Audit Committee Members with an opportunity to review and provide comment on the draft 2024/25 Statement of Accounts of Monmouthshire County Council under the following terms of reference of the Committee:

•           To review and scrutinise the authority’s financial affairs;

•           To oversee the authority’s internal and external audit arrangements; and

•           To review financial statements prepared by authority

Members noted that the figures provided are subject to change during the external audit process and that a final audited statement of accounts will be presented to this committee at a future date.  Following presentation of the accounts, Members were invited to ask questions:

https://youtu.be/ED6iYvC6bgg?si=dcJIvVcgexA6akp3&t=2860

In line with the report recommendations, the Governance & Audit Committee:

•           Reviewed the 2024/25 draft Statement of Accounts and highlighted any queries and comments.

•           Noted that following the completion of the external audit process, the audited Statement of accounts for 2024/25, alongside the outcome of the external audit process, will be presented to this Committee.

The Team was thanked for the work involved in completing the draft statement of accounts.

The Chief Internal Auditor presented a draft version of the Council’s Annual Governance Statement prior to inclusion into the Statement of Accounts 2024/25.  Following presentation of the report, Committee Members were invited to ask questions

https://youtu.be/ED6iYvC6bgg?si=7iqT_3_NiXpB4BkQ&t=3613

As per the report recommendations:

·        The Governance & Audit Committee contributed to the appropriateness and content of the draft Annual Governance Statement (2024/25);

·        Considered the review of effectiveness and the assessment made against each of the governance principles; and

·        Endorsed the Annual Governance Statement for inclusion within the Draft Statement of Accounts 2024/25.

The Performance and Data Insight Manager and Performance Analyst presented the Draft Self-Assessment Report 2024/25 to provide the committee with an opportunity to review the draft Monmouthshire County Council Self-Assessment Report, in line with the requirements of the Local Government and Elections (Wales) Act 2021.

https://youtu.be/ED6iYvC6bgg?si=_EZu5VNhcpIuj3BW&t=4309

As contained in the report recommendations, the committee reviewed the draft self-assessment report 2024/25 and did not consider it necessary to make any recommendations for changes to the conclusions or actions prior to the report being considered by Council in September.

The Officers were thanked for their work on the report.

The Forward Work Plan was noted.

A Member asked about scrutiny of the bus services support grant and bus network grant activity. Monmouthshire County Council is regional lead for the allocation of funding and is agent for on behalf of the Welsh Government.  It was agreed to discuss scrutiny of this matter outside the Committee.

https://youtu.be/ED6iYvC6bgg?si=cRjtevJEIGr6NrWs&t=5543

The minutes of the previous meeting were approved as an accurate record.

https://youtu.be/ED6iYvC6bgg?si=UKkn2N7fmaXTwXjX&t=5564