Issue - meetings

The Corporate Risk Register is reviewed and updated in line with the requirements of the Council’s Risk Management Framework.

Quarterly updates reflecting revisions are reported to the Audit and Governance Committee, this report highlights the changes since the last update.

It is proposed that the Committee considers and notes the revised Corporate Risk Register.

[20 Minutes]

          Upon the invitation of the Chair, the Insurance, Risk and Procurement Manager presented the report to the Committee. This report provided the quarterly update on the Corporate Risk Register. This included updates to all high risks, which were reviewed by the Corporate Leadership Team on 21 January 2025, and also captured any updates to medium risks during the quarter. The key updates were detailed in section 4.6 (page 124) and included CRR1-B - Balance of Housing Revenue Account - the net risk score had reduced and was now a medium risk; CRR11a - Major Project- Alexandra Theatre - the net risk score had reduced, however it remained a high risk; CRR19 - Littlehampton Harbour Board - the net risk score had increased, and it was now a high risk. Other updates from the review were also highlighted on the individual risk register entries included as Appendix 3. A new risk register entry was currently being developed for devolution and local government reorganisation, and this would be presented to the Committee at the next meeting.

          The Group Head of Housing, Wellbeing & Communities then presented his update on CRR1-B (Balance of the Housing Revenue Account). He explained Housing and Finance colleagues had worked extremely hard this year delivering a number of key initiatives to be confident in forecasting the first Housing Revenue Account (HRA) surplus in a number of years. They had insourced repair services and de-pooled service charges which would deliver further improvements in the next financial year. The refresh of the HRA business plan looked strong. Whilst these actions had reduced the risk from high to medium, officers would not be complacent and would continue to maintain effective custodianship of the HRA.

          The Chair invited questions around the CRR1-B update and Members praised the Housing department for the work they had done.

          It was asked whether the Grants that were being made available by Veterans Affairs in the Ministry of Defence (MOD) could be looked at. There were substantial amounts of money available, and it was felt this could be beneficial to the Council. The Member would be happy to help with this wherever possible.

          The Chair invited questions on the wider report. Further information was requested around the ghost fishing gear, and whether we charged money for storing the nets, or were able to sell these. The Member would contact officers in the relevant department.

          The Chair asked whether there was an update on CRR19 – Littlehampton Harbour Board, as the report stated an appeal would be submitted by January 2025. The Group Head of Law and Governance confirmed that this had been submitted, but officers had found out the previous week that this application was not successful. Next steps were now being considered.

The Committee noted the report.