This report provides the latest update on progress of the Finance Improvement Programme workstreams and their deliverables against the Plan since the last meeting in September 2021.

Chris Tidswell, CIPFA, presented a report providing an update on progress of the Finance Improvement Programme (FIP) against the plan for each workstream and their deliverables.  The report explained that the FIP had two key phases:  Phase I was responding to the historic and current issues identified to ensure a sound foundation and ‘getting the basics’ right.  The second phase would concentrate on embedding Phase I delivery and developing the financial management culture and governance framework across the Council. 

The audit tracker recommendations (see Minute 28 below) continued to be included within individual workstream deliverables where appropriate and were managed as part of the Plan.  There were now ten (previously seven) recommendations within the tracker covered by the Finance Improvement Programme. These were rated as: Red 2; Amber 6; and Green 2.  The change in the tracker recommendations followed three additions relating to bank and cash reconciliations since the meeting on 30 September 2021.  As a consequence, there would be increased scrutiny on reconciliations at the next project board meeting.

The report highlighted each workstream’s terms of reference and progress against the Plan.  Each workstream had a table indicating a RAG rating for its deliverables and Audit Tracker recommendations with the previously reported numbers shown in brackets for reference.

The report also set out the progress made to re-procure the finance system, which was being carried out by the Finance System Board, comprising stakeholders from each Directorate and BFfC.

Resolved:     That the progress being made to implement the Finance Improvement Programme be noted.