Agenda item

[To receive an update on the strategic risk register.]

Peter Farrow, Head of Audit, presented the strategic risk register.

The Head of Audit advised that the strategic risk register was updated regularly and received approval at SEB.

The Committee were advised that 18 risks were identified, 15 were amber and 3 was red. He advised that the risks were a fair reflection of the risks in accordance with the Our City/ Our Plan document.

The Head of Audit noted that the Committee had previously identified two particular risks relating to, risk 17 – financial wellbeing resilience and risk 14 – climate change as of particular interest to them, and that the risk on climate change had already been called in for a more detailed review at the November meeting.

The Committee were advised that the relevant Cabinet Member was updated in relation to the risks identified as the responsible risk owner.

Emma Bennett, Executive Director of Families and Kate Lees, Partnership Manager provided the Committee with an overview of the financial wellbeing strategy, approved by Council in March 2022. They advised that the strategy was tackled from a partnership approach to deal with the cost-of-living crisis and maintain financial resilience. The key element of the strategy was essential to the support and an early intervention approach.

The cost-of-living action plan was evolving and was supported by £1.3 Million worth of funding, from the City of Wolverhampton Council and grants including the Labour support grant and household support grant. The Council would take a holistic approach with support from local faith groups and would provide the Scrutiny Board with an update.

The Partnership Manager advised the Committee that there was a 24% increase in the use of food banks from low-income workers and that 70% of funding was distributed into community services.

In response to a question raised by Councillor Philip Bateman regarding the latest figures of people in Wolverhampton in receipt of universal credit. The Executive Director of Families confirmed that 12,70 claimants were in receipt of universal credit across the city.

In response to a question raised by Councillor Paul Appleby regarding the source of assurance including recruitment and financial modelling completion. The Partnership Manager advised that the team was now fully staffed and awaiting two further candidates to join the team by the 1 November 2022. She advised that she partakes in regular meetings with the financial manager and that the financial modelling was a three-year forecast.

In response to a question raised by Armstrong Ngoh, Independent Member regarding assurance of the progress made against the implemented strategies. The Executive Director of Families advised that heat maps/ data and that a dashboard was near in development stage that would be shared with the Committee where appropriate. 

The Chair advised the Committee of the new risk added to the strategic risk register, risk 18 - charge and reform fair cost of care. The Committee would be provided with a deep dive of this risk and the wider risks associated with Adult Services at its March 2023 meeting.

In response to a question raised by Councillor Jonathan Yardley regarding the position of the Civic Halls on the strategic risk register and the request for the Civic Halls be considered a red risk. The Head of Audit advised that the Committee would be provided with a detailed review of the Civic Halls at the meeting in November 2022. David Pattison, Chief Operating Officer advised that the Committee could make a recommendation to Cabinet that a risk should be reviewed, to consider if the risk is appropriately scored following the planned review in November 2022.

Resolved:

That the latest summary of the Council’s Strategic Risk Register, as at Appendix A be noted.