Item 12.5 - Attachment 1 |
Minutes Audit Committee Meeting 13 October 2011 |
REPORT OF THE MEETING
OF THE AUDIT COMMITTEE HELD IN MEETING ROOMS 1 AND 2, GROUND FLOOR, COUNCIL
CHAMBER BUILDING ON THURSDAY, 13 OCTOBER
2011 AT 5:42PM
PRESENT
Mike Barry in the
Chair, Councillor Julia Finn, Councillor
IN
ATTENDANCE
Dennis Banicevic (External Auditor – retired 6.01pm), Grant
Davies (Minute Clerk),
APOLOGIES
An apology was received and accepted for the absence of Bill
Rock and it was noted that Mr Neil Adams would be arriving late at the meeting.
CONFLICT
OF INTEREST DECLARATIONS
There were no
conflict of interest declarations at this meeting.
AGENDA ITEMS
30/11 Election
of Committee Chairman
RESOLVED (Wilson/Finn)
That Mr Mike Barry act as Chairman
for this meeting pending the arrival of Mr Neil Adams.
31/11 Presentation of Audit Financial Statements
A copy of Service
Manager Financial Systems and Services Memorandum dated 5 October 2011
providing the draft Council Report for presentation of Council’s Financial
Reports was distributed with the agenda to all members.
Mr
Banicevic provided an overview of the financial statements and noted that the
completed audit would go before a Special Meeting of Council on 17 October 2011
for sign off.
In summary,
Mr Banicevic noted that:-
· Council was in a sound and stable condition with all
indicators being better than the accepted industry benchmarks
· It is likely that over the next 5 years Council will
achieve operating surpluses;
· Council is in a good financial position and this
position will be maintained going forward subject to future developments with
the Civic Place Project;
· Infrastructure is being significantly maintained;
· Internal controls systems are sound;
· IT systems are working effectively;
· Accounts have been approved ahead of schedule.
RESOLVED (Barry/McDermott)
That the Audit Committee endorses
the Financial Statements that are to be placed before Council on 17 October
2011.
Note
1. Councillor Andrew Wilson
left the meeting at 5.56pm during discussion on the above matter.
2. Dennis Banicevic
(6.01pm), Francis Fernandes (6.04pm) and Jason Peters (6.04pm) retired from the
meeting following consideration of this matter.
32/11 Election of Audit Committee Chairperson
The CEO advised
that he had received 1 nomination for Chairperson of the Audit Committee from
Mr Neil Adams and sought advice as to whether any further nominations were to
be submitted.
There being no further nominations, the CEO advised that an election was not
necessary and declared Mr Neil Adams duly elected as the Chairperson of the
Audit Committee.
RESOLVED (Wilson/Finn)
The Mr Neil Adams be congratulated
on his re-election as Chairperson of the Audit Committee.
Note
Councillor A Wilson returned to the
meeting at 6.11pm during consideration of this matter.
33/11 Next Meeting
It was
noted that the next meeting of the Audit Committee is scheduled for Thursday,
24 November 2011.
Councillor
Finn requested that a report be provided to the November meeting in relation to
issues associated with Finlay and Associates, noting that this company had
undertaken works for Council and had recently gone into voluntary receivership.
The meeting terminated at 6.14pm