Risk Area Risk Identified Level of risk (H/M/L) Management of Risk Action required Review date
Section One : Areas where there may be scope to use insurance to help manage risk
Property and contents owned by the council Loss or damage High.
An up to date register of assets and investments. Reviewed annually by council, annually by Internal Auditor Mar 2020.
Damage to third party property or individuals. Public liability High. Property maintenance and insurance cover Insurance held with Zurich, renewal date of 13 May 2021, annually by Internal Auditor March 2020
Consequential loss of income or the need to provide essential services following critical damage, loss or non performance by a third party Public liability High. Annual review of risk and the adequacy of cover. Value of insurance held with Zurich, reviewed annually by council and by Internal Auditor March 2020.
Loss of cash through theft or dishonesty. Fidelity guarantee Medium Risk assessment and procedure in place Internal controls checked by council and Internal Auditor May 2020.
Legal liability as a consequence of asset ownership Public liability High. Property maintenance and insurance cover, level of cover, renewal date 13 May 2021, maintenance schedule, inspection regime May 2020.
Section Two – Working with others to help to manage Risk
Security for vulnerable buildings, amenities or equipment Medium. Risk Assessment carried out on regular basis Inspection regime – Councillors and paid inspectors, reporting systems Aug 2020.
The provision of services being carried out under agency / partnership agreements with principal authorities. Standing orders and financial regulations dealing with the award of contracts Low. Reviewed annually by council annually by Internal Auditor all partners risk assessed and multiple quotes obtained and compared in minutes May 2020.
Banking arrangements, including borrowing or lending Detect and deter fraud or corruption Low Financial Regulations and Internal Auditor review May 2020.
Ad hoc provision of amenities / facilities for events to local community groups Public Liability Low. Ask for hirers insurance, financial regulation May 2020.
Vehicle or equipment lease or hire Low. Hire from reputable companies, monitor by council Oct 2020
Trading units (leisure centres, playing fields, burial grounds, etc.) External contractors for maintenance Low. Or staff used – budget monitoring, employment law followed Jan 2020.
Professional services (architects, accountancy, design, etc.) Standing orders and Financial Regulations deal with the awarding of contracts Low CALC for legal.
Internal Auditor review regularly, others based on best available advice When required.
Section Three – Self Managed Risk
Proper financial records In accordance with statutory requirements Low. Review quarterly yearly by Councillors, annually by Internal Auditor Jan 2021
Business activities Ensuring that they are within the legal powers of councils Low. Internal Auditor review and regular reference to legislation and guidance May 2021
Borrowing Complying with restrictions Low. Internal Auditor review Dec 2020
Employment law and Inland Revenue regulations. Ensuring that requirements are met Medium. Internal Auditor review Dec 2020
VAT Ensuring that requirements are met under HMRC regulations Low. Internal Auditor review Dec 2020.
Annual precept Ensuring adequacy within sound budgeting arrangements Low. Internal Auditor review Dec 2021.
Monitoring of performance Low. Councillors review budget and policies quarterly Jan 2021.
Grants Ensuring proper use of funds granted to local community bodies under specific powers, s137 or General Power of Competence Low. All grants based on approved form and supporting information, minuted and checked by Internal Auditor Dec 2020.
Council Minutes Proper, timely and accurate reporting of council business in the minutes Low. Posted on website for public to see and Internal Auditor review Dec 2020.
Rights of inspection Low. Website / policies / notification Dec 2021.
Document control Proper systems Low. Policies approved and published Dec 2020.
Register of Members’ Interests and Gifts and Hospitality In place, complete, accurate and up to date Low. Internal Auditor and district council review Dec 2020.
Compliance with Transparency Code Low. Stay up to date with legislative changes Dec 2020.