Meeting Agenda:
Finance and Governance
| Meeting Date: | Monday 9 Oct 2023 |
|---|---|
| Time: | 19:30 |
| Councillors | Angela Baker, Sarah Compton Vice-Chairwoman, Michael Gemmell Smith, Alan Layland, Stuart McGregor, Angela Read, Stephen Sumner Chairman. |
| Committee: | Finance and Governance |
| Venue: | Doggetts Barn. 72a High Street Edenbridge, TN8 5AR Kent |
| Notes: | |
| Summary: | Finance (& Government) Committee - 6 monthly 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.
Recent Activities report:
AGAR: Resolved queries with External Auditor, delighted to have received a clean audit. The Notice of Audit Conclusion published.
Bank Account queries: Despite many phone calls, previous councillor speaking to bank, Chairman confirming, visiting Lloyds bank personally, it is still proving very difficult to close the Lloyds Bank and transfer the fund to Barclays Account so it can be reinvested in CCLA account which provides better interest. We continue to pursue this. Bank Signatories have been updated and submitted to Barclays. Confirmation has been received and the individual signatories now need to confirm ID.
Cemeteries: Revenue is currently above budget. Processing cemetery enquiries through to payments and uploading data.
Insurance: There is an outstanding claim for the damaged streetlight at Mill Hill/Memorial Hospital.
Insurance queries: These have included checking with broker regarding liability at the open spaces sites, and events for example Remembrance parade.
Lease holder Invoices: Sports Clubs with leases invoiced up to October. Museum has also invoiced. Invoices for market traders who pay monthly up to end of October. Invoice for groundstaff works contracted, up to September.
Microsoft 365/Sharepoint migration: This is now complete, and seems to be working fine with some familiarity still needed.
Reserves: An update on the reserves and movements for 2023 will be presented to the next meeting.
Software/EDGE: The system will allow paperless authorisations, which we are keen to continue pursuing. However, due to other work loads, this has been put on hold.
Assets Register: EDGE Assets register is a project which requires assets being photographed and uploaded on to the system. Another time consuming project so for now, the Excel spreadsheet remains and is update accordingly.
Budgeting: Preparations on reviewing the 10 and 30 year maintenance plans, and draft proposals for 2024-25 budget will start this month (October) and present to the November meeting. The Town Clerk will meet with Finance Chairman and Vice Chair.
At the January meeting it was reported that a request had been made to the solicitors to update the Nomads Lease to reflect changes permitting Nomads to hire facilities to Chipstead juniors and lady’s teams; hopefully a note of memorandum would suffice. This is just to note this is being followed up.
Work on the draft budget will be commencing during October, and presented to Committee for its November meeting. A visioning exercise has also taken place and will be reported to the Forward Planning Steering Group meeting in October, to help guide and plan for projects and potential expenditure.
To approve the Financial Income and Expenditure Statements. Bank Reconciliations are up to 31 August; payments include up to 30 September hence some variances with different reports - note report up to date.
5.5a - Attached is the Budget comparisons report up to 30 September 2023.
5.5b - In addition is the I&E Accounts up to 31 August (This should have been an agenda item as is part of the financial reports pack). The I&E does not fully reflect the budget comparisons as it is the actual I&E (including the creditors and debtors); it is also only up to 31 August to match bank recs. It shows the transfer from reserves (£0 currently) and the current funds in the General Reserves (it should match the consolidated balances hence report is up to 31 August); General Reserve currently at £259,435.46. Whilst there are no earmarked reserve movement, some projects have been funded and yet to be processed; these are noted on budget comparisons report.
| 5.5 230930 Financial Budget Comparison I&E.pdf |
| 5.5 b I&E Account.pdf |
The Consolidated Balance sheet can only be reported to 31 August, as matches last bank reconciliation (August).
| 5.6 230831 consolidated balance financereport.pdf |
There are two Financial Summary Cashbook reports:
5.7a - this is up to 31 August, this matches the Consolidated Balance up to 31 August (5.6) sheet 'cash in hand/at bank' = £641,748.80; Investments/CIL £300k; total £941,748.80
5.7b - this is up to 30 September and incudes the payments made up to up to 30 September (5.1), so the bank accounts (Barclays General Account) shows less as payments have been made in September.
| 5.7 a 230831 Financial Summary cashbook 1.pdf |
| 5.7 b 230930 Financial Cashbook.pdf |
A councillor will need to have checked these, and report to committee to confirm.
| 5.8 230831 Bank reconciliations summary report.pdf |
This will be reported at meeting.
Forge Singers - £60 - for vermin control at its shed
I am delighted to report the Council received a clean audit with no comments.
| Notice of Conclusion of Audit |
| AGAR completed with External Auditor report |
Cllrs Sumner, Compton and the Town Clerk have reviewed the Governance Risk Assessments. See attached. These will be published on the website following committee review/approval.
Do Members confirm the Governance Risk Assessments as reviewed?
Unfortunately, the Internal Auditor had to cancel audit and councillors training plan for early October. This will be rearranged and a date circulated.
The Terms of Reference first published in January 2020 (amended February 2021), have some procedural and practical adjustments/changes. Please see attached document (confidential).
Do Members confirm the amendments to the TORs?
| Confidential Annex Omitted from Papers. |
At a recent review of the Games Club, funded by a grant from Involve Kent, it came to light that the Council does not have a specific safeguarding policy. Not only is a policy advisable, it would be good practice for the Council to have a policy given the contact officers, staff and councillors have with the public. Attached (confidential paper) is a draft policy to committee to approve.
Last month, the Town Clerk, RFO and the volunteers of the Games Club all had DBS checks carried out.
Do Members confirm the Safeguarding Policy for Adults and recommend to full Council to adopt this policy?
| Confidential Annex Omitted from Papers. |
This meeting will consider the draft budget for 204-25 and make recommendation to full Council December meeting.