Dear Councillor,
Committee Members are summoned to attend the MEETING of the Finance & Governance Committee to be held on Thursday 19 May 2022 at 7.30pm in the Hurstpierpoint Village Centre Conference Room. Members of the public have a right to and are invited to attend the meeting.
Sarah Groom, Clerk to the Council & Responsible Finance Officer Thursday 13 May 2022
Committee Membership: Cllr Malcolm Llewellyn (Chair), Cllr Duncan Ranger (Vice-Chair), Cllr Allan Brown, Cllr Rodney Jackson, Cllr Seth Jee, Cllr John Lowman, Cllr Claire Majsai (plus two vacancies).
AGENDA
- Apologies for absence: To receive and accept apologies for absence.
- Declarations of interest: To note any declarations of interest.
3. Minutes of the previous meeting of the Finance & Governance Committee: To receive and adopt the minutes of the 21 April 2022 Finance & Governance Committee meeting.
4. Adjournment for questions from the public: To consider adjourning the meeting in accordance with Standing Orders, to receive questions from members of the public.
5. Internal Controls: To consider the review of the Internal Controls and the actions arising.
RECOMMENDATION: The Committee notes the review of internal controls and the actions arising.
6. Income and Expenditure for Year Ending 31 March 2022: To consider and agree the final income and expenditure figures for the year ending 31 March 2022 and agree to recommend it to Council for approval and adoption.
RECOMMENDATION: The Committee agrees to recommend the final Income and Expenditure figures for the year ending 31 March 2022 to Council for approval and adoption.
7. Asset Register at 31 March 2022: The Committee is asked to re-consider the final asset register for recommendation to Council for approval and adoption, following amendments made at the internal audit on 4 May 2022.
RECOMMENDATION: The Committee agrees to recommend the revised Asset Register dated 31 March 2022 to Council for approval and adoption.
8. Internal Audit Report Letter: The Committee is asked to consider the Internal Audit Report letter dated 4 May 2022 from Mulberry & Co. including the audit findings for actionand agree to recommend it to Council for approval and adoption.
RECOMMENDATION: The Committee agrees to recommend the Internal Audit Report dated 4 May 2022 to Council for approval and adoption.
9. Annual Return 2021/2022: The Committee is asked to consider and agree that the Annual Governance and Accountability Return for the year ending 31 March 2022 accurately presents the financial management of the Council as required by the Accounts and Audit Regulations 2015and agrees to recommend them to Council for approval and adoption.
9.1 To adopt the Annual Internal Audit Report 2021/2022,noting any findings that require action.
RECOMMENDATION: The Committee agrees to recommend the Annual Internal Audit Report 2021/2022 to Council for approval and adoption.
9.2 To agree Section 1: The Annual Governance Statement 2021/2022.
RECOMMENDATION: The Committee agrees to recommend the Annual Governance Statement 2021/2022 to Council for approval and adoption.
9.3 To agree Section 2: The Accounting Statement 2021/2022 and note the explanation of the difference between boxes 7 & 8 on the return.
RECOMMENDATION: The Committee agrees to recommend the Accounting Statement 2021/2022 to Council for approval and adoption.
9.4 To agree the period of the publics’ right of inspection will be 6 June 2022 to 15 July 2022 (the Regulations require the period to include 30 workings days and the first ten working days of July).
RECOMMENDATION: The Committee agrees to recommend the period of public inspection of the accounts as 6 June 2021 to 15 July 2021, to Council for approval and adoption.
10. Payments and receipts for Month 1 (April 2022): The committee is asked to:
10.1 Note payments of £23,592.37 (excl. VAT).
10.2 Note receipts of £146,913.01 (no VAT) includes the half year precept of £140,804.
11. Financial monitoring: The committee is asked to note the account records for month 1 (April 2022) in accordance with the Financial Regulations of the Parish Council, as follows:
11.1 Bank Reconciliations.
11.2 Balance Sheet.
11.3 Detailed Income and Expenditure by Budget Heading.
12. Deposits and investment:
12.1 As of 30 April 2022, the Parish Council held the following balances:
| Financial Institution | Account Type | Maturity Date | Amount |
| Unity Trust | Current Account | N/A | £248,673.52 |
| Nationwide | 95 Day Savings Account | 95 days’ notice | £84,699.03 |
| Cambridge & Counties BS | 1 Year Fixed Term Bond | 21/06/2022 | £48,000.00 |
| Cambridge & Counties BS | 1 Year Fixed Term Bond | 28/11/2022 | £50,005.63 |
| United Trust Bank | 1 Year Fixed Term | 18/12/2022 | £100,000.00 |
| Hodge Bank | 1 Year Fixed Term | 14/02/2023 | £100,000.00 |
12.2 At 30 April 2022 a further £46,440.72 is held with the CCLA in shares.
12.3 On 21 June 2022, the one-year fixed rate bond with Cambridge and Counties Bank is due to mature. The account currently holds £48,000. The bank will not provide renewal options until two weeks before the maturity date i.e. 7 June 2022.
RECOMMENDATION: The Committee agrees to delegate the renewal of the one-year fixed rate bond with Cambridge and Counties Bank to the Clerk, in consultation with the Chair of the Committee, subject to the terms being no less favourable than at present.
13. Insurance Renewal for the Parish Council: To receive a verbal update and agree the renewal of the Parish Council Insurance for 1 June 2022 for a further two years with BHIB. The premium for 2022-2023 has been quoted at £3,652.60. Last year’s premium was £2,990.54 as part of a three year agreement.
14. Standing Orders: To review the Standing Orders and recommend them to Council for approval and adoption on 26 May 2022, noting the revised Section 18 in the NALC model.
RECOMMENDATION: The Committee agrees to recommend the Standing Orders to Council for approval and adoption.
15. Financial Regulations: To review the Financial Regulations and recommend them to Council for approval and adoption on 26 May 2022, noting the proposed amendment of Clause 5.
RECOMMENDATION: The Committee agrees to recommend the Financial Regulations to Council for approval and adoption.
16. Risk Management – To review the Risk Policy Statement, Risk Management Strategy, Emergency Plan and Business Continuity Plan and recommend them to Council for approval and adoption on 26 May 2022.
RECOMMENDATION: The Committee agrees to recommend the Risk Policy Statement, Risk Management Strategy and Risk Register, Emergency Plan and Business Continuity Plan to Council for approval and adoption.
17. To note any further information items, correspondence received or requests.
Protocol for filming and recording at public meetings: The Council has a protocol for public filming, recording and photography at its meetings, which is available on the Council’s website or on request at the Parish Office.