Meeting Minutes:
Finance and Governance
| Meeting Date: | Monday 22 May 2023 |
|---|---|
| Time: | 19:30 |
| Councillors | Angela Baker, Sarah Compton, Michael Gemmell Smith, Alan Layland, Stuart McGregor, Angela Read, Stephen Sumner Vice-Chairman. |
| Committee: | Finance and Governance |
| Venue: | Rickards Hall. 72a High Street Edenbridge, TN8 5AR Kent |
| Notes: | The Meeting Agenda and Minutes were created in Word. The information presented here is a manually entered copy. |
| Summary: |
Agenda
Minutes
Cllr Baker proposed Cllr Sumner for Chairman, seconded by Cllr Layland. Members unanimously,
Resolved: Cllr Sumner as Chairman of the Finance and Governance Committee.
Cllr Baker proposed Cllr Compton as Vice Chairman, seconded by Cllr Sumner. Members unanimously,
Resolved: Cllr Compton as Vice Chairman of the Finance and Governance Committee.
No Absence recorded.
Resolved: that the minutes of the Finance Committee meeting held on 27 March 2023 be duly signed by the Chairman as a true and accurate record of the meeting; pages 9896 - 9899.
The Balance sheet had been reviewed by the Internal Auditor for submission for the AGAR (Annual Governance & Accountability Return). The carried forward net asset cash balances £982,018
The end-of-year actuals were presented with the Financial Income and Expenditure budget comparisons report - Below the I & E budget summary, excluding the CIL Funds.
Summary of Budget Comparison 2022-23:
| Budgeted | Actual year-end | |
| Total Expenditure | £719.365.00 | £668.119.90 |
| Total Income | £729,582.00 | £758.797.52 |
| Surplus/Deficit | £10,217.00 | £90,677.62 £68,435 Movement to Earmarked Reserves |
| Actual total movement | £22,242.62 in to GeneraI Reserves |
(This excludes the CIL income and expenditure)
Members
Ratified: the end-of-year actuals
Full end-of-year finances, including the consolidated balance sheet, cash book, and budget comparisons for year end 31 March 2023 had been presented to full Council meeting 15 May.
Members
Noted: that the papers have been submitted
Members
Noted: the Notice of Public Rights and Publication had been posted and displayed.
(NB: due to year-end not all of the below have been transferred to Edge reporting system)
To approve the Financial Income and Expenditure Statements up to 30 April 2023
Members,
Ratified: the expenditure to the 28 February 2023
Members,
Approved: the payments to 22 May 2023
Members,
Ratified: the expenditure over £500.
Members,
Ratified: the Bank Reconciliations statements and the {Procurement Card statement for March 2023
Members,
Ratified: the Transfers into, out of and between bank accounts.
Nothing over 3 months to report.
Members,
Ratified: the NFU Mutual renewal and the expenditure of £2,043.64, an increase of £118.59
The renewal was due July 2023. Based on last year’s premium and adjustments for revaluations and additional assets, the premium had been estimated at £16,621.54 (confirmation would be received early July). Last year, the Council accepted a 3-year long term agreement. Council insurance details and levels are published on website.
The Internal Auditor carried out a comprehensive review of the Council’s accounting records and end-of-year 31 March 2023. The Council management and internal controls where all found to be in good order. The full report can be found on the website here.
Members
Received: the Internal Auditors Report.
Appointed at Council, appointees are
- Michael Gemmell Smith
- Alan Layland
- Stephen Sumner
- Bob Todd
Members,
Noted: the Members of the Internal Audit Group.
As this is a new Council and there is an upcoming meeting, the members were appointed by Council, the appointees are:
- Angela Baker
- Michael Gemmell Smith
- Alan Layland
- Margot McArthur
- Stuart McGregor
- Bob Todd (Position held by the Chairman of the Councillor)
- Vacancy
Members,
Noted: the Members of the Personnel Committee.
24 July 2023