Meeting Agenda:
Finance and Governance
| Meeting Date: | Monday 24 Jul 2023 |
|---|---|
| Time: | 19:40 |
| Councillors | Angela Baker, Sarah Compton, Andy Eyre, 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: | |
| Summary: | Quarterly Year Review |
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.
For Information - Recent additional RFO activity
I was officially was promoted to Shadow Deputy Clerk in May. A finance training session for councillors was held on the 29 June 2023, to understand Council finances and the papers presented at Finance meetings. I was involved with coordinating the office move and redecoration which included storage arrangements. A summer program has been arranged for the Market during August with children’s activities and music. I attended the co-option Council meeting for the new councillors.
To approve the Financial Income and Expenditure Statements as of 30 June 2023.
Do Members ratify the attached expenditure report?
| Paid Expenditure 30/06/2023 |
Nothing to for approval as invoices will be prepared for the end of the month.
Do Members ratify the expenditure over £500 reports?
| Transactions over £500 30/06/2023 |
Do Members ratify the attached income report?
| Received income transactions 30/06/2023 |
Do Members agree the attached I&E comparisons report?
| Financial budget comparison 30/06/2023 |
Do Members receive the above reports?
| I&E account 30/06/2023 |
Do Members confirm the consolidated balances report?
To note: At the end of the last financial year, £68,435 was transferred into the reserves for expenditure yet to occur/projects to complete. Included in the I&E budget comparisons report is £7,900 of expenditure (see below) plus £100k from allocated CIL funds which will be released back in to the General Reserves in July/August (will see changes at next meeting):
Projects: Logo £650; Treatment works £4,250;
Buildings 10/30 year: £3,000 (funds moved (2021/22)
Allocated CIL: £100,000 to Medical Centre
IT Sharepoint/InTune - invoice yet to receive but has £7k allocated in project reserves.
| Consolidated Ballance Sheet 30/06/2023 |
Do Members confirm the above report?
| Financial Summary Cashbook 30/06/2023 |
The bank and procurement card reconciliations will be reviewed by Cllr Compton.
| Bank Account | Opening balance as of 30/04/23 | Spend | Receipts | Transfers | Closing Balance as of 28/02/23 |
| Barclays General | £13,459.19 | -£531,084.13 | £637,790.76 | -£101,523.04 | £18,642.78 |
| Barclays Reserves | £343,323.32 | £7,134.80 | £189,953.24 | £540,411.36 | |
| Barclays CIL | £182,783.69 | £4,435.06 | -£100,000.00 | £87,218.75 | |
| Lloyds General | £128,667.40 | £0.00 | £128,667.40 | ||
| CCLA General | £200,000.00 | £0.00 | £200,000.00 | ||
| CCLA CIL | £100,000.00 | £0.00 | £100,000.00 | ||
| Petty Cash | £200.00 | £0.00 | £200.00 | ||
| £1,332,989.30 | -£531,084.13 | £649,360.62 | -£11,569.80 | £1,075,140.29 |
Do Members confirm the reconciliations report?
| Barclaycard statement 01/04/23 to 30/06/23 |
Do Members confirm and approve the attached report?
| Bank Transfers too 30/06/2023 |
To nominate one councillor, with the Chair, Town Clerk and the RFO, to review the Council's Financial and Council Risks.
The RFO will confirm a date in August.
To note: everything at this end end has been completed to close the Lloyds Bank Account and is now and now awaiting Lloyds Bank to actually complete the closure and transfer the funds in to the Barclays account.