The Corporate Governance Committee of Leicestershire County Council is scheduled to convene on Friday, 18 September 2026. The meeting's agenda includes discussions on the external audit of the 2025/26 financial statements, treasury management, risk management, and the council's insurance service. Additionally, the committee will consider proposed revisions to the statutory guidance on the Best Value Duty.

External Audit of the 2025/26 Financial Statements

The committee is set to receive an update on the progress of the external audit of the 2025/26 financial statements for both the County Council and the Pension Fund. Representatives from Grant Thornton UK LLP, the council's external auditors, are expected to attend to present their findings. The report indicates that the audit fieldwork is underway, with the auditors aiming to complete their opinion by the end of November 2026. The audit fee for the County Council is £289,960, and for the Pension Fund, it is £115,490. The report also includes sector updates on topics such as local government reorganisation, adult social care, and children's social care.

Quarterly Treasury Management Report

A report detailing treasury management actions and performance for the quarter ending 30 June 2026 is scheduled for discussion. This report will cover short-term investments, including movements in the loan portfolio and the weighted average maturity of investments. It will also provide an overview of investments made beyond 12 months, such as those in private debt, pooled property, and pooled infrastructure. The report notes that the council has repaid £42.7m of external debt during the quarter, resulting in projected annual savings of £2.8m in interest payments. The council's external debt now stands at £87m, its lowest level in over 30 years.

Risk Management Update

The committee will receive an update on the council's risk management arrangements. This includes a review of the Corporate Risk Register (CRR), with details of any new, removed, or redefined risks. A new risk concerning the insufficient availability of suitable Ofsted-registered residential placements for children in care has been added. The report also highlights emerging risks, including the implementation of the Terrorism (Protection of Premises) Act 2025, commonly known as Martyn's Law, and an update on Local Government Reorganisation (LGR).

Insurance Service Annual Report 2025/26

The annual report from the Insurance Service will be presented, detailing the work undertaken between September 2025 and August 2026. This includes the annual insurance programme renewals, claims handling, and efforts to prevent risk. The report notes that the council's insurance year runs from 1 October to 30 September, and the current programme was arranged through a tender process using the Yorkshire Purchasing Organisation (YPO) framework. The report also addresses the ongoing situation with Municipal Mutual Insurance Ltd (MMI), which ceased writing insurance business in 1992, and the potential implications of Local Government Reorganisation on MMI's assets and liabilities.

Best Value Duty – Consultation on Draft Revised Statutory Guidance (2026)

The committee will consider the government's consultation on draft revised statutory guidance for the Best Value Duty. This duty, established by the Local Government Act 1999, requires local authorities to ensure continuous improvement in their services. The draft 2026 guidance places a greater emphasis on prevention, self-assessment, assurance, scrutiny, and governance maturity. The report includes a comparison of the 2024 and draft 2026 guidance, highlighting shifts towards observable behaviours, clearer indicators of failure, and enhanced expectations for assurance and scrutiny. The council's proposed response to the consultation is also included, which supports the revised guidance but suggests further clarity on intervention thresholds and evidence requirements.