Issue - meetings

(Strategic Director Corporate and Section 151 Officer) To consider the attached report.

The Section 151 Officer, A Small advised the Committee the officer risk management group had reviewed the risk register and the risk around the increase in demand for financial and housing assistance had increased due to the emerging fuel poverty crisis and rise in living costs. The financial resilience of the Council was being closely monitored due to the general inflationary risks and mitigation actions were being developed.

The Committee raised concerns on the risk of interest rate increases, specifically in relation to high borrowing and the third-party partner, Qualis, The Section 151 officer explained there was risk and economic pressure in relation to building inflation, and The Council’s debt was on a low rate fixed interest cost for 15/20 years. Future borrowing for the Capital Programme would be a risk and a robust business case would be required.

The Committee received confirmation that all Qualis loans had a margin for the Council and that service disruption would be viewed as an emerging risk, if economic risk transcribed into an impact on service delivery.

Resolved:

The Committee reviewed and endorsed the risk register.