Finance and Governance, 22 May 2023
Meeting: Finance and Governance – 22 May 2023
Committee: Finance and Governance
Date: Monday, 22 May 2023 at 7:30 PM
Previous Meeting
Following Meeting
Description
The Meeting Agenda and Minutes were created in Word. The information presented here is a manually entered copy.
Papers:
Agenda:
Venue
Rickards Hall
72a High Street
Edenbridge, TN8 5AR
Kent
Agenda
3 Declaration of Interests or Predetermination
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.
5 Matters Arising from The Minutes for Report and Not Covered Elsewhere (for Information Only)
Responsible Finance Officer’s Report to Committee
May 2023
Information
Alongside Year End and Audit, I have attended a 3 day first aid course, completed in April, attended Dementia Training, clearing the server files ready for the migration to Microsoft 365 and arranging the clear out of Rickards and the Office for the infestation treatments.
I have been completing the end of year and the Annual Governance and Accountability Return (AGAR), which has been successfully completed and signed by the Internal Auditor (IA) who has confirmed that the financial management and internal controls are in good order.
Bank accounts: The full Council (May meeting) has confirmed the signatories and changes will be made over the next month or so. I would also like to suggest that the Chairman or Vice chairman of finance is also a signatory; this would need full Council approval.
6.1 To receive the Consolidated Balance Sheet report and to note the end-year cash balances
The Balance sheet was reviewed by the Internal Auditor for submission for the AGAR (Annual Governance & Accountability Return). The carried forward net asset cash balances £982,018
6.2 To review the Financial Income and Expenditure (I&E) budget comparisons report
The end-of-year actuals can be seen with the Financial Income and Expenditure budget comparisons report – Below is a summary of the I & E budget result excluding the CIL
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 General Reserves |
Do Members confirm the end-of-year actuals?
7 Annual Governance and Accountability Return (AGAR) 2022/23
Full end of year finances, including the consolidated balance sheet, cash book, and budget comparisons for year end 31 March 2023 were presented to full Council meeting 15 May.
8 Financial Statement and Analysis of Receipts and Payments (financial Report Pack)
(NB due to year end not all of the below have been transferred on to the Edge reporting system)
8.1 To ratify the expenditure up to 30 April 2023
Do Members ratify the above report?
8.2 To approve the list of expenditure for payment
Do Members approve the above payment?
8.9 To confirm the Bank Reconciliation statements and Procurement Card for April, and May
Do Members confirm and accept the above reports?
8.10 To approve and accept the transfers into, out of and between bank accounts
Do Members approve and accept the attached report?
8.11 To note and advise on invoices outstanding over 3 months
Nothing over 3 months to report.
9.1 To ratify the renewal of the Vehicle insurance with NFU Mutual
Approved Council (May Meeting)
Do Members ratify the NFU Mutual renewal and the expenditure of £2043.64, an increase of £118.59?
9.2 To note: the Council’s Insurance policy renewal
The renewal is due July 2023. Based on last year’s premium and adjustments for revaluations and additional assets, the premium has been estimated at £16,621.54 (confirmation will be received early July). Last year, the Council accepted a 3-year long term agreement. Council insurance details and levels are published on website.
10.1 To receive the Internal Auditors Report April 2023
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.
10.2 To Note: Internal Audit Group – confirmed Council (May Meeting)
Appointed at Council, appointees are:
- Michael Gemmell
- Smith Alan Layland
- Stephen Sumner
- Bob Todd
10.3 To Note: Personnel Committee membership – appointed at Council (May Meeting)
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
Minutes
1.1 Election of Chairman of the Finance and Governance Committee for the ensuing year
Cllr Baker proposed Cllr Sumner for Chairman, seconded by Cllr Layland. Members unanimously,
Resolved: Cllr Sumner as Chairman of the Finance and Governance Committee.
1.2 Election of Vice 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.
2 Apologies for Absence
No Absence recorded.
4 To Confirm the Minutes of The Finance Committee Held on 27 March 2023
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.
5 Matters Arising from The Minutes for Report and Not Covered Elsewhere (for Information Only)
None.
6.1 To receive the Consolidated Balance Sheet report and to note the end-year cash balances
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
6.2 To review the Financial Income and Expenditure (I&E) budget comparisons report
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
7 Annual Governance and Accountability Return (AGAR) 2022/23
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.
7.1 To note: The AGAR for the financial year up to 31 March 2023 was completed, approved by full Council (15 May) to be submitted to the external audit
Members
Noted: that the papers have been submitted
7.2 To note: The Notice of Public Rights and Publication of the unaudited Annual Return inspection period is 5 June to 16 July 2023 (this included the first 10 working days of July).
Members
Noted: the Notice of Public Rights and Publication had been posted and displayed.
8 Financial Statement and Analysis of Receipts and Payments (financial Report Pack)
(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
8.1 To ratify the expenditure up to 30 April 2023
Members,
Ratified: the expenditure to the 28 February 2023
8.2 To approve the list of expenditure for payment
Members,
Approved: the payments to 22 May 2023
8.3 To review Expenditure over £500 up to 30 April 2023
Members,
Ratified: the expenditure over £500.
8.9 To confirm the Bank Reconciliation statements and Procurement Card for April, and May
Members,
Ratified: the Bank Reconciliations statements and the {Procurement Card statement for March 2023
8.10 To approve and accept the transfers into, out of and between bank accounts
Members,
Ratified: the Transfers into, out of and between bank accounts.
8.11 To note and advise on invoices outstanding over 3 months
Nothing over 3 months to report.
9.1 To ratify the renewal of the Vehicle insurance with NFU Mutual
Members,
Ratified: the NFU Mutual renewal and the expenditure of £2,043.64, an increase of £118.59
9.2 To note: the Council’s Insurance policy renewal
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.
10.1 To receive the Internal Auditors Report April 2023
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.
10.2 To Note: Internal Audit Group – confirmed Council (May Meeting)
Appointed at Council, appointees are
- Michael Gemmell Smith
- Alan Layland
- Stephen Sumner
- Bob Todd
Members,
Noted: the Members of the Internal Audit Group.
10.3 To Note: Personnel Committee membership – appointed at Council (May Meeting)
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.
12 Date of Next Meeting – 09 October 2023
24 July 2023