Issue - meetings

That the Risk Management Policy for 2021/22, its Risk Appetite Statement for 2021/22 and the updated Corporate Risk Register be approved subject to a minor amendment to the Policy, section 8 (risk appetite) to change the words “satisfactory outcomes” to “positive outcomes”.

Councillor Cutler introduced the report which provided an update to the council’s risk strategy and risk appetite.  The report had been considered by Audit and Governance Committee on 4 March 2021 where no additional comments had been raised for Cabinet.

Councillor Cutler proposed a minor amendment to the Policy which was agreed as set out in the resolution below.

At the invitation of the Leader, Councillors Power and Lumby addressed Cabinet as summarised briefly below. 

Councillor Power

Welcomed the report and in particular the commitment to monitor risk with regard to the various costs and benefits resulting.  She considered that relatively minor changes to the policy equated to significant changes in how the council managed risk.

Councillor Lumby

Requested that in the future, any proposed changes to a policy be clearly set out.  Stated that the policy adopted a more cautious approach to any new expenditure, other than on housing.  Requested further information regarding the “lessons learned” document referred to.

Councillor Cutler and the Strategic Director Resources responded to comments made, including explaining that many of the recommendations of the “lessons learned” document had already been implemented as part of the council’s response to the Covid-19 pandemic to date.

Cabinet agreed the following for the reasons set out above and outlined in the report.

RESOLVED:

That the Risk Management Policy for 2021/22, its Risk Appetite Statement for 2021/22 and the updated Corporate Risk Register be approved subject to a minor amendment to the Policy, section 8 (risk appetite) to change the words “satisfactory outcomes” to “positive outcomes”.