The Governance and Audit Committee of Conwy Council convened on Wednesday, 12 June 2024, to discuss various significant topics, including the internal audit external review, the council's performance self-assessment, and the medium-term financial strategy. The meeting also addressed the terms of reference for the committee and updates on treasury management.

Internal Audit External Review

The committee reviewed the Internal Audit External Review 2024-25 Report conducted by Alex Jenkins from Caradigian Council. The review found that the internal audit service generally conforms to the public sector internal audit standards, with 45 areas conforming, six partially conforming, and five non-conforming. The committee discussed the need for a quality assurance and improvement program and the importance of addressing non-conformance issues.

Council's Performance Self-Assessment

The committee considered the Council Performance Self-Assessment 2023 to 2024 Report, which provides a comprehensive overview of the council's performance and challenges. The report highlighted the council's progress and areas needing improvement, particularly in financial planning and performance management. The committee emphasized the importance of continuous review and improvement of corporate plan commitments and performance expectations.

Medium-Term Financial Strategy

The Head of Finance and Audit presented an update on the medium-term financial strategy and the council's financial resilience and sustainability. The committee discussed the capacity of the finance team, the impact of the new financial system, and the importance of tracking budget proposals. The committee also addressed the need for better public engagement regarding the council's financial position.

Terms of Reference for the Committee

The committee reviewed and approved the updated terms of reference, which align with the Chartered Institute of Public Finance and Accountancy (CIPFA) guidance. The updated terms emphasize the committee's role in ensuring robust processes and controls for the council's financial affairs and the importance of demarcating the roles of the Governance and Audit Committee and the Scrutiny Committees.

Treasury Management Update

The committee received an update on the Treasury Management Update Report 2023/24, noting the importance of regular updates on treasury management activities. The committee agreed to receive substantive reports in January and July and information reports in April and November.

Work Programme

The committee discussed the forward work programme, emphasizing the need to balance the workload and ensure meaningful discussion within appropriate timescales. The committee also highlighted the importance of aligning the work programme with the council's cycles of meetings and ensuring consistency between the corporate risk register and the annual governance statement.

The meeting concluded with a discussion on various information reports, including the Audit Wales Digital Strategy Review and the Council's Performance Management Guide. The committee emphasized the importance of continuous improvement and effective governance in all areas of the council's operations.