The Audit and Governance Committee of Buckinghamshire Council is scheduled to meet on Wednesday 28 January 2026. The meeting's agenda includes discussions on the council's financial strategies, governance statements, and operational assurance activities.

Annual Governance Statement 2025/26 - Approach

The committee is set to consider the proposed approach for developing the Annual Governance Statement (AGS) for 2025/26. This statement is a statutory requirement and provides an assessment of the council's governance arrangements for the year. Guidance from the Chartered Institute of Public Finance and Accountancy (CIPFA) indicates that the AGS should be high-level, strategic, meaningful, and written in an accessible style. A draft AGS is expected to be presented to the committee in March 2026, with the final version to be published alongside the Statement of Accounts by 30 June 2026. The preparation process will involve consultation with committee members, engagement with senior management and directorates, and a structured review of the council's governance framework and relevant annual reports.

Dormant Trust Funds Update

An update on the progress made in reviewing and regularising the council's trust funds is scheduled for discussion. Buckinghamshire Council acts as the sole trustee for several charities and holds historical trust funds inherited from legacy councils. Significant work has been undertaken to identify these funds, establish governance arrangements, ensure all income and expenditure are captured, and update details with the Charity Commission. The Cabinet is responsible for making decisions regarding charities, such as the potential winding up of a charity. There are no direct financial or legal implications arising from this report.

2025/26 Business Assurance Strategy Update (including Internal Audit Plan)

This agenda item will provide an overview of the Internal Audit, Risk Management, and Counter Fraud work being undertaken by the Business Assurance Team against their approved plans. The council is working towards a combined assurance model, with Internal Audit acting as the third line of assurance. The 2025/26 work plans were developed with reference to strategic and directorate risk registers and informed by discussions with Senior Leadership Teams. The Business Assurance Strategy, including the Internal Audit Plan, was previously agreed by the Corporate Governance and Assurance Board and approved by the Audit and Governance Committee in July 2025. The plans are designed to be flexible and adaptable to the council's evolving risk landscape.

Treasury Management Strategy 2026-27 to 2028-29

The committee will consider the Treasury Management Strategy Statement (TMSS) for 2026-27 to 2028-29, which outlines the council's policies for managing borrowing, investments, and cash flows. This strategy is crucial for ensuring that the council's capital investment plans are affordable, prudent, and sustainable, in line with the Local Government Act 2003 and the Prudential Code for Capital Finance. The report details the proposed borrowing strategy, sources of borrowing, limits on borrowing activity, and the maturity structure of borrowing. It also covers the management of cash balances, including investment returns and the balancing of short and long-term investments. The strategy has regard to guidance from the Ministry of Housing, Communities and Local Government (MHCLG) and the Chartered Institute of Public Finance and Accountancy's (CIPFA) Treasury Management Code of Practice.

Action Log

The committee will review the latest action log, noting any actions that can be closed.

Work Programme

The committee will consider its work programme for the upcoming period.

Purchasing Card (P-Card) Governance

This item is scheduled for discussion, indicating a review of the governance surrounding the use of purchasing cards.

Confidential Items

Several items are marked as confidential, including confidential minutes, a report on finalised audits and the status of audit actions, and a confidential action log. These items are likely to involve sensitive information that requires exclusion of the public from this part of the meeting, as indicated by the resolution to exclude the press and public under Section 100(A)(4) of the Local Government Act 1972.

The next meeting of the Audit and Governance Committee is scheduled for Thursday, 26 March 2026, at 10:00 am.