Resolution clause — Performance
That the {PERIOD} Performance Report for the financial year {FINANCIAL_YEAR} be noted and adopted.
Used in: Performance reports — Recommended Resolution
Resolution clause — Risk
That progress on {RISK_AREA} Risk Register Monitoring Report for the quarter ending {QUARTER_END_DATE} be noted.
Used in: All Risk reports — Recommended Resolution
Committee endorsement
The Risk Management Committee has reviewed the items on the risk register for the period under review and endorses the risk ratings and action plan progress as presented in this report.
Used in: All Risk reports — RMC section
Discussion opener
The following section provides a discussion of the risk register items, action plan implementation progress and monitoring activities undertaken during the quarter under review.
Used in: All Risk reports — Discussion section
Confidentiality caution
This report contains information that is confidential and privileged. It is intended solely for the use of the individual or entity to which it is addressed. If you are not the intended recipient, be aware that any disclosure, copying, distribution or use of the contents of this information is prohibited.
Used in: All reports — header
Risk impact — reputational
Reputational damage to the municipality and its officials, resulting in reduced investor and community confidence.
Used in: All Risk reports
Risk impact — financial loss
Financial loss or misappropriation of municipal funds resulting in service delivery failure and public confidence erosion.
Used in: Fraud Risk reports
Control strategy
After the risks have been identified and the contributing factors or root causes have been established, the control strategy should be identified for the various risk exposure. Risks can either be transferred through insurance cover, tolerated, treated/mitigated through rigorous management practices or terminated by eliminating a process. High rated risks which are unacceptable to the Municipality must be prioritized and treatment strategy implemented must be monitored to evaluate progress.
Used in: All Risk reports — Legislative Context
Continuous monitoring
Risk Management is not a once off or periodic event. It is a journey during which the Municipality must continuously sharpen its response to the risks it faces by interrogating the completeness and accuracy of the risk register and the assumptions used to determine the priority of risks.
Used in: All Risk reports — Legislative Context
MFMA s62(1)(c)(i)
In terms of Section 62(1) of Municipal Finance Management Act 56 of 2003 the accounting officer of the municipality is responsible for managing the financial administration of the municipality, and must for this purpose take all reasonable steps to ensure that the municipality has and maintains effective, efficient and transparent systems of financial and risk management and internal control.
Used in: All Risk reports — Legislative Context section