Agenda item

The Head of Internal Audit, Anti-Fraud and Assurance submitted a report that introduced the next scheduled strategic risks for the Audit and Governance Committee meeting.

It was noted that the Strategic Risk Register was recently reviewed by SMT  and continued to contain 15 risks. 6 risks were classified as high (red response rating), 9 risks were classified as medium (amber rating). No risks were classified as low (green rating).

The Executive Director- Growth & Sustainability attended the meeting to provide the Committee with a review of the following strategic risks:

·         Glassworks

·         Inclusive Economy

The Executive Director made particular reference to the following:

·         The Glassworks had performed extremely well in regard to footfall. 1.82 million visitors were record in Q1 which was a record for the borough, highlighting that the Glassworks had become a product people value. Planned activity such as events had a positive impact on footfall, and the team would look to rearrange the 1st anniversary celebrations after the national period of mourning.

·         The Glassworks had two amber RAG rated actions (Action 4 and Action 6).

·         Action 4 had been mitigated by the assurance of an effective centre management plan; the Glassworks Board had monthly meetings which were reported through the Service Director. Robust check and challenge was provided from the Section 151 officer. Footfall is monitored monthly and reported quarterly. 

·         Action 6 was related to engagement with CineWorld. The Executive Director had recently spoke with the Vice President of Operations and was assured by this conversation and the significant investment CineWorld had contributed to their Barnsley offering.

·         Concerns around the Cost-of-Living crisis and inflationary pressures continued to be a key area of concern for the inclusive economy. It was paramount that residents and businesses received the correct information and advice, and the Enterprising Barnsley team and Skills Service had engaged in particularly outstanding work surrounding this.

·         The Inclusive Economy Board meet every two months. The Council received good check and challenge from the private sector chair, and had worked on such issues as managing unemployment, economic inactivity in Principal Towns and focused work on the good growth and better job strategies.

·         Inclusive economy had one amber RAG rated action (Action 3). Enterprising Barnsley had engaged in work with both business and residents. The Government had not yet released details on the energy cap policy for businesses, it was hoped that this would be forthcoming so local businesses could receive the timely information and guidance.

The following discussion ensued:

·         It was noted that CineWorld was a global business and had filed Chapter 11 proceedings in the US rather than liquidation proceedings in the UK, meaning that business as usual would commence in regard to UK assets. CineWorld had invested a significant amount into their Barnsley asset with Barnsley being the biggest town in Europe not to have this type of multiplex offering, therefore the Council was confident that CineWorld’s regional offer remained strong.

·         Tenants of the Glassworks maintained responsibility for their own energy bills, therefore rising energy costs would be carried by retailers and business that had tenancy agreements in the Glassworks. Communal areas energy bills continued to be covered by the service charge which would be reviewed periodically.

·         Footfall in the town is tracked with cameras via Springboard. Footfall is also tracked within the Principal Towns which builds a Borough-wide picture.

RESOLVED that Strategic Risk Register report be noted.