LYMPSTONE PARISH COUNCIL
RISK MANAGEMENT (adopted 2 December 2002)

Reviewed 20th September 2010

I

 

RISK AREA

MANAGEMENT

Protection of physical assets owned by the council

Insurance. Under constant review as purchases are made. Up to date register of assets. Regular maintenance arrangements of physical assets. Reviewed annually. Internal Audit.

Health and safety and associated policies in place

Risk of damage to third party property or individuals as a consequence of the council providing services or amenities to the public

Public Liability Insurance £5m.

Regular maintenance arrangements of physical assets. Reviewed annually.
Health and safety and associated policies in place.

Loss of cash through theft or dishonesty

Fidelity Insurance. Reviewed annually. Internal Audit testing: review of internal controls in place and their documentation. Testing of specific internal controls and reporting findings to management.Full reconciliation and bank statements available at each meeting.

Legal liability as a consequence of asset ownership

Public Liability Insurance £5m. Reviewed annually.

Irregular costs for works, bad workmanship,

Standing orders and financial regulations dealing with the award of contracts for services or the purchase of equipment.Preparation of specifications and competitive pricing. Internal Audit testing.Ensuring appropriate insurance cover provided by suppliers.

Use of Specialist where necessary

Ensuring all business activities are within legal powers applicable to local councils and financial records in accordance with statutory requirements. Complying with restrictions on
borrowing

Training of members and the Clerk.

Read publications from DAPC and SLCC.Research from Websites.

Regular scrutiny of financial records and proper arrangements for the approval of expenditure. Internal Audit inspects records and examines systems

Ensuring that all requirements are met under employment law and Inland Revenue regulations

Regular returns to Inland Revenue, system for updating records of any changes in relevant legislation. Training of members and the Clerk.

Read publications from DAPC and SLCC.Research from Websites.

Ensuring all requirements are under Customs and Excise regulations (VAT)

Regular returns of VAT. Contact with Customs & Excise DAPC and Audit Commission.

Ensuring the adequacy of the annual precept within sound budgeting arrangements

Sound and detailed budget process.Maintenance of balances. Regular budget monitoring.

Proper, timely and accurate reporting of council business in the Minutes

Minutes properly numbered and paginated with a master copy kept in a safe place.

Meeting statutory rights of inspection of documents

Procedures to deal with enquiries from the public. Publication Scheme for Freedom of Information.

Meeting the laid down timetables when responding to consultation invitations

Consultation documents circulated to all members via Information items.Any needing a response within the month are reported to Council.Any directly involving the Parish are reported to Council.

Proper document control

Procedures for document receipts, circulation, responses, handling and filing.

Corruption and malpractice by Members

Register of membersí interests and gifts and hospitality in place, complete accurate and up to date procedures in place for recording and monitoring membersí interests and gifts and hospitality received, adoption of codes of conduct of members.

Injury to Councillors and volunteers

Training, awareness and insurance

Internal Controls for finance

Internal Audit: review of internal controls:

Review of minutes.
Testing of income and expenditure from minutes to accounts, from bank statements to accounts, including petty cash transactions.
Review and testing of arrangements to prevent and detect fraud and corruption. Testing of specific internal controls and reporting findings to management.