Risk Management

Risk Management

This risk assessment was re-adopted by the Council at its meeting on 4th May 2021

 

  Subject Risk Identified Risk Rating (HML) Risk Management and Control Review and Action Responsible

 

1. Precept Income inadequate or excessive L Review payments against budget quarterly.
Hold reserves to cover at least six months’ payments.
Prepare robust budget
Review payments quarterly.
RFO to present draft budget well in advance of precept deadline
Clerk/RFO, Council
2. Banking Inability to access statements, reconcile accounts and make payments H Keep bank mandate up to date Review annually

 

Clerk/RFO, Council
3. Financial control and records Loss actual or by discrepancy M RFO to reconcile accounts monthly.
Nominated councillor to reconcile accounts quarterly.
Annual audit
Approve signed quarterly bank reconciliations.
Act on auditors’ recommendations
Clerk/RFO, Nominated Councillor, Council
4. Annual return

 

Late or incomplete return M Approve annual return in line with auditors’ timetable Schedule Council meetings at appropriate dates with required reports Clerk/RFO, Council
5. Protection of assets owned by the Council Loss or damage to assets

 

M

 

 

 

 

Maintain up-to-date register of assets.
Check assets regularly, maintain properly and inspect annually.
Carry out Portable Appliance Testing.
Back up data regularly.
Review risk and maintain adequate insurance cover
Review annually Clerk/RFO, Council

 

 

6. Risk of damage to third party property or individuals, as a consequence of the Council providing services or amenities Loss or damage or injury L Public Liability Insurance up to £10m. Contractors’ liability cover to be minimum of £1m, except in cases where risks are higher Check contractors’ insurance prior to work commencing Clerk
7. Risks to Employees

 

Accident or injury L Ensure health & safety requirements met. Ensure employer’s liability insurance up to £10m Review annually

Review insurance level annually

Chair

Clerk, Council

 

8. Risks to Councillors Accident or injury on Council business L Limit Councillors’ activities to acceptable low risk levels Review insurance level annually Clerk
9. Risks to Volunteers Accident or injury on Council business L Check requirements and insurance levels annually. Public liability cover of £10m Review as required.
Review insurance level annually
Clerk
10. Employees Legal/business L Ensure contracts are in place and payments are in line with national pay levels Review annually Chair, Council
11. Transparency Failure to publish required items in accessible formats L Publish items when required on website. Ensure website complies with accessibility regulations by deadline Review current arrangements urgently and present recommendations Council, Chair, Clerk, Volunteer
12. Business risks Various L Keep proper records.
Meet statutory requirements.
Annual audit.
Ensure Council acts within its legal powers
Review Financial Regulations and Standing Orders annually Clerk, Council
13. Risks to Council Legal challenges on Council procedures, expenditure and activities L Councillors and employees to register and declare interests as appropriate.
Minutes demonstrate Council is acting within legal powers and own procedures.
Complaints procedure in place
Ongoing.

Review Council procedures annually.

Review insurance level annually, including legal assistance

 

All Councillors, Council, Clerk

 

14. Not enough councillors There are only 106 houses in the village. It may not be possible to attract enough people to form a Council and maintain a quorum. M Councillors to connect with new residents and encourage them to get involved with the Parish Council

 

Ongoing All Councillors
15. No Clerk/RFO Unexpected resignation of Clerk/RFO. Inability to recruit to vacancy H Keep Job Description and Person Specification up to date to avoid delay in recruitment.

Maintain membership of OALC to facilitate advertising.

Clerk’s contract provides for two months’ notice

Review annually Council