The Audit and Corporate Governance Committee of Camden Council is scheduled to convene on Thursday 24 September 2026. The meeting's agenda includes discussions on the council's reward strategy and terms and conditions, an annual review of its complaints and remedies policies, and an update on treasury management, specifically concerning Lender Option Borrower Option (LOBO) loans. The committee will also review its work and training plan.

Annual Reward and Terms and Conditions Update

A report from the Director of People and Inclusion will provide an update on Camden's Reward Strategy, covering its key pillars: fair pay, benefits, culture and environment, wellbeing, and development. The report will outline actions taken to maintain a competitive employment offer and address recruitment and retention challenges. A key item for discussion will be proposed amendments to the Council's Probation approach, which has already reduced the standard probationary period from six months to four months, effective from 1 July 2026. This change is part of wider revisions aimed at strengthening early performance management, support, and intervention. The report also details the council's commitment to fair pay, noting its status as an accredited Living Wage employer and its efforts to address pay gaps, including gender, ethnicity, and disability. Enhancements to the employee offer, such as a revised appointment pay framework and an improved recognition scheme, are also highlighted. The report seeks the committee's approval for the amendment to the probation approach.

Annual Review of the Complaints Policy and Remedies Policy

The Borough Solicitor will present the annual review of the Council's Complaints Policy and Procedure and Remedies Policy. This review is conducted in accordance with the Housing Ombudsman Complaint Handling Code. The report indicates that substantive amendments made in previous years have been successfully embedded and continue to provide an effective framework for complaint handling and redress. Officers intend to undertake a further review in 2027, focusing on improving clarity and consistency, particularly in the application of the Remedies Policy across service areas like Children's Services and Special Educational Needs. The report recommends that the committee note the outcome of the review and the intention for future policy updates.

Treasury Management Update – Lender Option Borrower Option (LOBO) Loans

This report from the Director of Finance provides an update on the Council's LOBO loan portfolio following the 2025/26 Treasury Management Outturn Report. It details the outcome of lender option dates that occurred in August 2026. Notably, a £29 million LOBO loan from FMS Wertmanagement was repaid on 27 August 2026 after the lender proposed an interest rate increase from 4.625% to 7.77%. The council opted to repay the loan to avoid significantly higher financing costs, replacing it with a £29 million Public Works Loan Board (PWLB) loan at a rate of 4.69%. The report also confirms that two Dexia loans, also due for lender option dates on