Meeting Agenda:
Finance and Governance
| Meeting Date: | Monday 29 Jan 2024 |
|---|---|
| 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: | Rickards Hall. 72a High Street Edenbridge, TN8 5AR Kent |
| Notes: | |
| Summary: | Finance (& Government) Committee |
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.
Charities accounts: Returns have been submitted for the The Public Recreation Ground - Blossoms Park (302732); and The Recreation Ground Charity–Lingfield Road (302733); both were 'nil' returns. The Norman Foundation (307544) - we are awaiting a statement from NatWest, once received will send before 31 January.
Kingdom Cleaning: Advised of a price increase due to minimum wage increase.
Microsoft subscriptions: PS Tech has advised that Microsoft are increasing their pricing in April 2023.
Due to staffing and other matters, there has been a delay with some data inputting to be able to complete the bank recs, however payments have been being processed on the system with majority of the income. The iZettle payments are yet to be balanced.
The Grants Committee (November 2023) supported an application from the Rugby Club "subject to receipt of a breakdown of project costs, and to be confirmed at a Finance Committee meeting". The Club has since provided a copy of the invoice (attached).
Do Members confirm the release of funds of £2,500 for the Grant to the Rugby Club?
| Confidential Annex Omitted from Papers. |
To approve the Financial Income and Expenditure Statements as of 31 December 2023
No report - Need to complete bank rec October to December before able to lockdown, which allows a cross balance check.
Cllr Layland has checked the August and September full bank reconciliations; plus the Barclays Reserve and Barclays CIL accounts for October.
Barclays current October to December to be completed in full.
The bank transfers below show the movements from 01/09/23 to 24/01/24. Movement from Barclays Business Premium Reserves account to Barclays Current account (Statement attached (confidential):
| Date | Amount | Reason |
| 24/01/24 | 36,228.10 | Payroll |
| 18/12/23 | 36,968.84 | Payroll |
| 23/11/23 | 48,552.48 | Payroll (incs. backpay) |
| 31/10/23 | 60,187.84 | October payments |
| 20/10/23 | 30,000.00 | Payroll |
| 20/10/23 | 20,000.00 in/out | Transferred & corrected CIL account credit&debit |
| 29/09/23 | 11,000.00 | September payments |
| 22/09/23 | 27,000.00 | Payroll |
Precept transfer from current account into Reserves:
| Date | Precept movement from Current to Reserves | |
| 29/09/23 | 151,108.00 | improve interest earnings & safegaurding |
| 29/09/23 | 200,000.00 | as above |
September interest £1,373.60 processed on EDGE; December £2069.97 to be added to EDGE.
| Confidential Annex Omitted from Papers. |
Forge Singers £60 pest control
Museum - there has been some queries with the invoicing re the services from Fusion (security and fire systems). Invoices are received by the Town Council and the cost is split. We are currently looking at these, some going back to last year. (Unfortunately, this requires some officer time and resources have been directed elsewhere.)
The Precept request for 2024-25 for £745,185.00, as presented to and supported by Council at its December meeting and after publication over December formally resolved at its Council meeting 15 January 2024. With the tax base figures provided in December, this is a 4.37% increase on a Band D equivalent increase to £188.32. This was submitted to SDC on 18 January 2024.
Presented at the meeting, an excel spreadsheet showing the I&E form the budget comparisons report, a predicted year-end view and the budget for 2024-25.
Do Members have any comments?
Some projects budgeted for may not have been completed and require the funds to be moved in tot he earmarked reserves to ensure the y can be completed.
Members to note the projects and potential funds from budget to Earmarked Reserves at the end of the financial year.
Financial Regulations will be reviewed once NALC completes and confirms its review, and issue the update Model Regulations.
An investments review will follow with the Model Regulations.
Worknest carried out its H&S and RAs audit on 15 November. This was reported to full Council (December). It was a positive meeting with several helpful pointers and advice. Overall, the report is fair and identifies a number of actions but there are no actions requiring immediate attention. The assessor visited the open spaces, depot, stores, Rickards Hall, and the Office. We are working through the advice. (The report is available to view for Members only on the SharePoint Councillors Documents.)
Under the Terms of Reference for the committee, referred matters the Committee is to monitor compliance with Health and Safety and Risk Assessment and make recommendations to full Council for improvements.
Do Members have any comments?
None.
Propose an interim meeting after the CIL Board (reviewing the accounts), on 19 February at 8.00 pm. Also, due to staffing, to propose to move the meeting to after the Planning Committee meeting on 18 March.
Do Members confirm and additional meeting on 19 February to confirm the balances and bank recs; and to bring forward the MarchCommittee meeting to 18 March?