Meeting Minutes:
Finance and Governance
| Meeting Date: | Monday 24 Jan 2022 |
|---|---|
| Time: | 19:30 |
| Councillors | Jon Aldridge, Angela Baker, Sarah Compton, Alan Damodaran, Michael Gemmell Smith, Alan Layland, Nick Lloyd Chairman, Stuart McGregor, Stephen Sumner Vice-Chairman, Bob Todd. |
| Committee: | Finance and Governance |
| Venue: | Rickards Hall. 72a High Street Edenbridge, TN8 5AR Kent |
| Notes: | |
| Summary: |
Agenda
Minutes
Apologies were received, notes and accepted from Cllrs Baker, Damodaran, McGregor and Todd.
Resolved: that the minutes of the Finance and Governance Committee meeting held on 15 November 2021 be duly signed by the Chairman as a true and accurate record of the meeting; pages 9632 -9365.
Cllr Lloyd said that the budget was as expected for the third quarter of the year; and that the year-end was expected to be within budget. He mentioned that the finance software package (EDGE) had some anomalies which were throwing out some of the other comparison reports the RFO was working on resolving these issue before year-end. There had also been some accrued invoices, which had been a carryover accounting error; these had been reversed which benefited the General Reserves by £51,147.
Members, ratified: the expenditure to the 31 December 2021.
Members, Resolved: the list of expenditure payments.
Members, Resolved: the Expenditure over £500 up to 31 December 2021
Members, Resolved: the income to the 31 December 2021.
Members, Resolved: the financial Income and Expenditure comparisons budget up to the 31 December 2021.
Members, Resolved: the Consolidated Balance Sheet to the 31 December 2021.
Members, Resolved: the Financial Summary Report Cashbook to the 31 December 2021.
Cllr Lloyd confirmed he had seen the reconciliations.
Members Ratified: the Bank Reconciliation statements and Procurement Card statements for November and December 2021.
Members, Ratified: the transfers into, out of and between bank accounts.
Nothing to report.
Following the January full Council meeting when the draft budget was approved, the Precept request to Sevenoaks District Council (SDC) for £656,364.00 had been made.
The Council’s Standing Orders had been reviewed in 2020 and reflect the NALC model ones. However, a query had recently been raised regarding recorded voting. Members considered the proposed amendment as presented in the papers to reflect recorded votes and named votes
Resolved: to support the suggested amendment to the Standing Orders 3s on recorded votes and to make recommendation to full Council
The Lloyds Bank account was set-up when the NatWest branch closed in Edenbridge and as a second account in case one bank had a system issue which may delay payments. This account helds £128,667.40, and this earned no interest.
Members, Resolved: to support the proposal to close Lloyds Bank account and make recommendation to full Council to move the funds to the Barclays account
Members Resolved: to support the proposal to transfer the balance of the CIL funds from the Barclays CIL account to the CIL PSDF account and make recommendation to full Council.
Resolved: to support to move CIL interest to be recorded as under Central Services income
Members, Resolved: to support one interest code on the budget under Central Services, with sub-headings