Summary of the Audit and Risk Committee Meeting, 17 March 2020
- Independent Chair, Rachael Dean, introduced herself to the committee and shared her background and experience.
- The Committee formally adopted the Committee Terms of Reference.
- Lesley Crichton, Group Manager: Corporate Services, spoke to the Quarterly Report for the period ending December 2019. This report was received by the Committee.
- The Chair reviewed current risks to Council, including any risks associated with cash and cheque handling during the Covid-19 pandemic.
- Lesley Crichton, Group Manager: Corporate Services, presented amended Liability Management and Investment Policies. These have been updated due to the current economic climate by giving more flexibility under Council’s funding arrangements. The interest rate risk framework has also been amended to provide greater flexibility around the management of longer term interest rate exposures. The Committee recommended that Council adopt the Liability Management and Investment Policies.