• 1. Welcome
• 2. Apologies
• 3. Public Forum
  • No requests from members of the public to address the Audit and Risk Subcommittee were received prior to publication of the agenda.
• 4. Confirmation of Agenda
  • Note: Any additions must be approved by resolution with an explanation as to why they cannot be delayed until a future meeting.
• 5. Declarations of Interest
  • Members are reminded of the need to stand aside from decision-making when a conflict arises between their role as an elected representative and any private or other external interest they might have.
  • ORC Councillors' Declarations of Interests are published on the website.
• 6. Confirmation of Minutes
  • That the minutes of the Audit and Risk Committee meeting held on 26 September 2024 be confirmed as a true and accurate record.
• 7. Actions (Status of Subcommittee Resolutions)
• 8. Presentation
  • JBWere will present on Fund Management.
• 9. Matters for Consideration
  • 9.1 Managed Fund Portfolio Performance Update
    • To present the Q3 2024 Portfolio Performance Report from Council’s Investment Manager, JB Were (JBW), for the period ended 30 September 2024.
  • 9.2 Asset Management Internal Audit Update
    • This paper reports back to the Audit and Risk Subcommittee on the findings of an Internal Audit of Asset Management Practice at Otago Regional Council.
  • 9.3 Deep Dive - Natural Hazards
    • To facilitate a discussion, or ‘deep dive’, into Council’s management of the Natural Hazards strategic risk.
  • 9.4 Rates Strike Corrections 2024/25
    • The purpose of this paper is to outline the cause of two errors in the rates strike for the 2024-25 rating period.
  • 9.5 Safety and Wellbeing
    • This report summarises activities and information on health, safety and wellbeing (HSW), and people and culture (HR) at ORC (Otago Regional Council) for the 2024/25 year to date.
  • 9.6 Legislative Compliance
    • To receive Council’s six-monthly legislative compliance report; being the ComplyWith survey results which measure Council’s compliance with legislative requirements. Also to provide an overview of our compliance with the Local Government and Official Information and Meetings Act 1987 (LGOIMA) official information requests; and The Privacy Act 2020.
  • 9.7 Treasury Report
    • To present the quarterly Treasury Reporting Dashboard from Council’s Investment Advisor, Bancorp, as at 30 September 2024.
  • 9.8 Te Tiriti o Waitangi Audit
    • To provide Audit and Risk with the outcome of the Te Tiriti o Waitangi Audit undertaken by Te Kura Taka Pini Limited (TKTP) in 2023/2024, along with a deep dive analysis of our strategic risk, Partnership effectiveness.
• 10. Resolution to Exclude the Public
  • That the public be excluded from the following items under LGOIMA 48(1)(a):
    • Confirmation of the Minutes of the Confidential Audit and Risk Subcommittee Meeting of 26 September 2024
    • CS2444 Audit Management Letter and Initial Response
    • CS2449 Insurance Disclosure
    • CS2445 Managed Fund Report
    • CS2446 Managed Fund Performance Review
    • CS2450 Strategic Risk Register
    • A&R2406 ORC Response Plan to Document Management System Privacy and Security Controls Review
• 11. Closure

Documents

• JBWere Q3 2024 Portfolio Performance
• ORC Asset Management Maturity Assessment 2024
• Strategic Risk Deep Dive Natural Hazards
• ORC Vehicle Speed Management Overview
• AR Dashboard Q2 2024/25
• HSW Critical Risks Profiles as of 11 November 2024
• Employee Engagement Survey Results 2024 - Summary for Audit & Risk
• ComplyWith Report November 2024
• LGOIMA Requests 01.06.2024-19.11.2024
• 2024.09.30 Bancorp Treasury Reporting Dashboard September 2024
• Appendix 1 Otago Regional Council Te Tiriti o Waitangi Audit Report
• Appendix 2 Terms of Reference
• Appendix 3 Strategic Risk - Deep Dive Partnership Effectiveness