There were no declarations of interest or transparency statements intimated prior to the commencement of the meeting.

 

There was submitted the Minute of the meeting of the Executive Sub-committee held on 16 February 2024. 

In relation to item 4 – Project Proposals – it was agreed that the Minute be amended to reflect that the posts created within the National Savings Team were fixed term contracts.

DECIDED: That the Minute, as amended, be approved.

There was submitted a report by the Treasurer relative to the Annual Audit Plan 2023/24 for Scotland Excel which outlined Azets timescales and planned audit activity during the audit of the 2023/24 Annual Accounts, a copy of which was appended to the report.

The report intimated that Azets had submitted an Audit Plan which outlined the approach to the audit of the 2023/24 Annual Accounts to assess whether the accounts provided a true and fair view of the organisation’s financial position and also whether the accounts had been prepared in accordance with proper accounting practice, the Code of Practice on Local Authority Accounting in the UK 2023/24.

The Audit Plan outlined the responsibilities of Scotland Excel and Azets; the assessment of key challenges and risks; and the approach and timetable for completion of the audit. The report advised that the statutory deadline for the approval of the audited accounts for 2023/24 was 30 September 2024 and that the Annual Audit Report was planned to be reported to the meeting of the Executive Sub-committee scheduled to be held on 20 September 2024.

The report noted that the proposed audit fee was indicated at £9,790 for the current financial year.

Adrian Kolodziej, Senior Manager, Azets, presented the Audit Plan to members. 

DECIDED: 

(a) That the Annual Audit Plan 2023/24 by Azets, appended to the report, be noted; and

(b) That the proposed audit fee of £9,790 be approved.

There was submitted a report by the Chief Executive of Scotland Excel relative to an additional project being proposed on the use of reserves as a result of surpluses which would be generated by pension fund changes.

The report intimated that when considering the Revenue Estimates for 2024/25 at the meeting of the Joint Committee held on 8 December 2023 it was noted that Strathclyde Pension Fund had advised that, as a result of higher than anticipated returns from investments, the fund was 147% funded against current and anticipated future commitments. At that meeting it was agreed that the anticipated operating surplus be retained, ring-fenced within reserves with any draw down to be approved by the Executive Sub-committee.

The report provided detail on a project to fund an additional Contracts Solicitor within Renfrewshire Council’s Legal and Democratic Service to support Scotland Excel in the expansion of the collaborative contract portfolio. The report provided further detail on the project and highlighted that the funding requirement for this project would be £67,214 for year 1 and £70,574 for year 2.

DECIDED: That the project funding and draw down from agreed reserves for 2024/25 of £67,214 and £70,574 for 2025/26 be approved.

DECIDED: That it be noted that the next meeting of the Executive Sub-committee would be held remotely on MS teams at 9.30 am on 19 April 2024.