Agenda item

The Committee received a report of the Corporate Director of Resources which supported the Council’s Risk Management Strategy. It highlighted the strategic risks facing the Council and provided an insight into the work carried out by the Corporate Risk Management Group between June and September 2024 (for copy see file of minutes).

Mr I Rudd referred to the new risk of reinstatement values on the council’s property asset. He asked why the review of asset value had stopped.

P Darby replied that this would have been caught up in the downsizing of the organisation where a function previously carried out ceased.  This had been reintroduced due to the insurance requirements of the council and that measures were now in place to rectify the matter.

The Chief Internal Auditor and Corporate Fraud Manager added that the Corporate Insurance Team came under her service her remit.  She reassured the committee that this issue was not unique to this local authority and that this was a recognised issue throughout the insurance industry.

P Darby stated that the net values had grown in years and this would be looked at by the Chief Internal Auditor and Corporate Fraud Manager and the Head of Corporate Property and Land.

Resolved

That assurances provided that strategic risks were being effectively managed within the risk management framework across the Council be confirmed.