Every year the Council is advised that it should review the arrangements it has put in place to manage risk. The last review was undertaken in May 2004.

No developments have taken place in the past year that have changed the way in which the Council should approach the management of risk. The Council does not manage facilities which might expose it to health and safety legislation and the limited assets the Council owns are covered by insurance.

The Council’s financial regulations are relatively new (adopted in July 2002) and whilst last year it was understood that new model orders were to be issued "shortly" it appears that no significant changes have taken place. The Council continues to approve at its full meeting all financial transactions and all payments are made by cheque which must be signed by 2 members. No petty cash arrangements are in place.

Allianz Cornhill continue to provide the Council’s insurances and a full range of cover is provided in accordance with a standard form provided for parish councils. Members are reminded that the current age limit for personal accidents is 75. Last year the Council decided against increasing the fidelity guarantee limit to the limit suggested by the auditor (the equivalent of balances plus half the precept) and kept it at £3000. If the Council wanted to increase the limit this year the figure would be £4000.

The new arrangements for keeping the Council’s records are not yet wholly in place but should be complete by the end of the financial year. It seems likely that the County Archivist would not be interested in all the Council’s papers over 5 years old where, for example, he has access to other copies (eg planning applications) and in that event the intention is to destroy those papers unless there is a statutory requirement to keep them. Such an approach will also help in administering access to papers under the Freedom of Information Act.

Members are invited to consider if there are any other issues that the Council needs to address.