Issue - meetings

The Committee considered a report of the Assistant Director of Corporate Governance and Strategic Financial management which updated Members on the perceived risks to the Council associated with the future operation of Northern Roots (Oldham) Limited. In considering the report, Members were advised that this report had previously been considered by the Audit Committee on 1^st November 2022.

The Committee was informed that Northern Roots had been initially created as a Charitable Company with the Council as the sole shareholder on 29^th November 2021. Prior to this date, all income and expenditure associated with the Northern Roots initiative was accounted for by the Council. During the time Northern Roots operated as part of the Council, it was agreed that the Charitable Company would use the Council’s financial ledger and a separate ledger was created for its future use once it became a company. This ledger was now operational, and the Council will influence the future appointment of the External Auditor for the Charitable Company.

In considering the report Members expressed the view that the Cabinet should take a robust position in terms of overseeing the governance arrangements of Norther Roots.

Resolved:

1.    That the Committee notes the key perceived risks as detailed in the submitted report relating to Northern Roots (Oldham) Limited

2.    That six monthly update reports advising of the developing risk position be submitted to future meetings of the Committee.

The Committee considered a report from the Assistant Director of Corporate Governance and Strategic Financial Management the purpose of which was to update Members of the Audit Committee as requested at a previous meeting, on the perceived risks (as set out in Appendix 3 to the report) to the Council associated with the future operation of Northern Roots (Oldham) Limited. This is an update to the report submitted to but not considered at the meeting of the Audit Committee on 8 September 2022, as the meeting had to be adjourned.

A Member suggested that the Committee should receive a 6 monthly dashboard report which gives details of potential risks on all Council associated projects.

Resolved: That

(i)            The Committee notes the key perceived risks as detailed in this report relating to Northern Roots (Oldham) Limited 2); and

(ii)          that 6 monthly update reports advising of the developing risk position be submitted to future meetings.