Meeting Agenda:
Finance and Governance
| Meeting Date: | Monday 18 Jul 2022 |
|---|---|
| Time: | 20:00 |
| 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
The disclosure must include the nature of the interest. If an interest becomes apparent to a member during the course of a meeting that has not been disclosed under this item, the member must immediately disclose it.
The Annual Governance and Accountability Return (AGAR) was submitted to the External Auditor (PK Littlejohn) in May, and the notice of public right was published on the website and notice board. The EA has been in touch with some questions, I have provided the necessary additional information.
Bank accounts: Changes to signatories, as per full Council (May and July meetings) are in the process of being updated.
The insurance renewal quotations have taken some time getting quotes (see agenda item 6).
The insurance claim for the Depot theft in March, has now been paid including the full costs on the new security door. Total payment to date £4404.60. Outstanding are some replacing equipment items as they have not been in stock.
EDGE: Assets Register is work in progress, transferring all records over with pictures of each asset.
Cemeteries register anomalies have been looked at by EDGE and we are working through the changes.
Market: Invoices and some overseeing of the activity.
To approve the Financial Income and Expenditure Statements as of ...
Do Members ratify the above report?
| 5.1 Paid Expenditure Transactions.pdf |
Do Members approve the above payment
| 5.2 Expenditure Transactions Approval List.pdf |
Do Members/ the Committee accept the above report?
| 5.3 Paid Expenditure over 500.pdf |
Do Members/ the Committee accept the above report?
| 5.4 Received Income Transactions.pdf |
Do Members receive the above reports?
| 5.5 Financial Budget Comparison.pdf |
Do Members receive the above Report
| 5.6 Income and Expenditure Account.pdf |
Do Members confirm the above report?
| 5.7 Consolidated Balance Sheet.pdf |
Do Members confirm the above report?
| 5.8 Financial Summary - Cashbook.pdf |
Do Members confirm and accept the above reports?
| 5.9 Bank and Investment Account.pdf |
Do Members approve and accept the attached report?
| 5.10 Bank Account Transfers.pdf |
Nothing to report.
Extract from the full council meeting 4 July:
8.1 TO APPROVE THE INSURANCE PROVIDER AND POLICY FOR 2022-23 AND CONSIDER A
NEW 3-YEAR TERM AGREEMENT
8.1 and 8.2: Members noted three quotes for the renewal had been requested based on the existing levels of cover, and to provide some playground cover. Zurich, Gallaghers (Hiscock insurance) and the current broker James Hallam (were Royal Sun Alliance insurance, now using Aviva insurance). Zurich would not quote as there was an outstanding claim (the Depot break-in). At the time of the meeting only Gallaghers had provided a like for like quote, with a 3-year rate stability option, which was comparable with the current policy and within the budgeted amount. James Hallam had advised that its quote was looking likely to be higher than budgeted premium.
Members discussed and agreed that it would not want to compromise its level of insurance but if a saving on the premium could be made with a sector reputable insurer, then credence should be given to this. It was noted that the buildings valuations were last done in 2019 and insurance cover was based on last year’s levels. There was support from Members to consider desk-top valuations to ensure adequate insurance cover was quoted.
Member unanimously, Resolved: to support the revised insurance expenditure from £12,500 to potentially up to £17,000, and the expenditure of £780 for tabletop valuations of six of its main properties (if suitable for desktop). Members also unanimously, Resolved: delegated authority to the Finance Committee to make the final decision on:
• Confirming the recommended insurer
• To consider and confirm a 3-year rate stability commitment
• To finalise the insurance cover and renewal details
Further information on Confidential paper (supplier sensitive information).
Do Members support the decision on valuations to be referred back to full Council.
| Confidential Annex Omitted from Papers. |
| Confidential Annex Omitted from Papers. |
To confirm the recommended insurer
To consider and confirm a 3-year rate stability commitment
To finalise the insurance cover and renewal details
To note: the Council’s Annual Grants invitation to apply for a grant will be published late summer, application deadline will be Friday 21 October. Grants meeting 28 November
19 September 2022 – 6 monthly review