NORTH YORKSHIRE COUNTY COUNCIL

AUDIT COMMITTEE

23 September 2024

PROGRESS ON ISSUES RAISED BY THE COMMITTEE

Joint Report of the Corporate Director – Resources

and the Assistant Chief Executive (Legal and Democratic Services)

1.0	PURPOSE OF THE REPORT
1.1	To advise Members of
	(i)    progress on issues which the Committee has raised at previous meetings
	(ii)    other matters that have arisen since the last meeting and that relate to the work of the Committee

2.0 BACKGROUND

2.1        This report is submitted to each meeting listing the Committee’s previous Resolutions and / or when it requested further information be submitted to future meetings.  The table below represents the list of issues which were identified at previous Audit Committee meetings and which have not yet been resolved.  The table also indicates where the issues are regarded as completed and will therefore not be carried forward to this agenda item at the next Audit Committee meeting.

Date	Minute number and subject	Audit Committee Resolution	Comment	Complete?
11.12.23	102 – Audit Committee Terms of Reference / Review of Effectiveness	That the Committee felt it would be beneficial to undertake and complete a self-assessment exercise of the Committee’s effectiveness in the 2024/25 Municipal Year, circa during period Jan – March 2025.  It was also felt that any review should be facilitated by officers	Not yet started	X
24.06.24	124 – Progress on Issues Raised by the Committee	That training session be organised for Audit Committee Members in 2024 and 2025 as outlined in the minutes	These will be scheduled as noted in the minutes.
24.06.24	135 – Programme of Work	That the Council’s Calendar of meetings for 2025/26, when approved by Full Council be circulated to members of this Committee to make them aware of future Audit Committee meeting dates	This will be circulated once available
24.06.24	135 – Programme of Work	That the Value for Money (VfM) reports that had previously been submitted to this Committee, and to avoid duplication, be incorporated into the Annual Governance Statement (AGS) / Corporate Governance reports in the future	This will be done going forward.

3.0 TREASURY MANAGEMENT

3.1      The Bank of England cut interest rates on 1 August from 5.25% to 5.00%. However, the accompanying guidance and forecasts from the Monetary Policy Committee suggest a cautious approach to further cuts to interest rates going forward. As a result, the Council’s Treasury Advisors, Link have revised their interest rate forecast and now anticipate the next rate cut of 0.25% will be in November rather than in September.

4.0 RECOMMENDATION

4.1       That the Committee considers whether any further follow-up action is required on any of the matters referred to in this report.

GARY FIELDING Corporate Director – Resources

BARRY KHAN Assistant Chief Executive (Legal and Democratic Services)

County Hall

NORTHALLERTON

23 September 2024

Background Documents:  Report to, and Minutes of, Audit Committee meetings held on 24 June 2024