Dear Councillor,
Committee Members are summoned to attend the MEETING of the Finance & Governance Committee to be held on Thursday 20 May 2021 at 7.30pm in the Village Centre Conference Room. Members of the public have a right to and are invited to, attend the meeting.
Please note all COVID guidelines must be adhered to:
1. Wear masks on entry and until seated. Masks must be worn if not seated.
2. Use hand sanitiser.
3. Follow the one way system, clockwise around the room.
4. Open doors and windows to allow air to circulate.
5. Public to sign in for Track and Trace.
6. Maximum room capacity of the Conference Room is 12.
Sarah Groom, Clerk to the Council & Responsible Finance Officer Friday 14 May 2021
Committee Membership: Cllr Malcolm Llewellyn (Chair), Cllr Julia Shorrocks (Vice-Chair), Cllr Allan Brown, Cllr Rodney Jackson, Cllr Seth Jee, Cllr John Lowman, Cllr Duncan Ranger.
AGENDA
1. Apologies for absence: To receive and accept apologies for absence.
2. 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 22 April 2021 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. Income and Expenditure for Year Ending 31 March 2021: The Committee is asked to consider and agree the income and expenditure for the year ending 31 March 2021 and agree to recommend it to Council for approval and adoption as follows:
RECOMMENDATION: The Committee agrees to recommend the Income and Expenditure for Year Ending 31 March 2021 to Council for approval and adoption.
6. Internal Audit Report Letter: The Committee is asked to consider the Internal Audit Report letter dated 23 April 2021 from Mulberry & Co. including the audit findings for action and agree to recommend it to Council for approval and adoption as follows:
RECOMMENDATION: The Committee agrees to recommend the Internal Audit Report dated 23 April 2021 to Council for approval and adoption, noting the findings that require action.
7. Annual Return 2020/2021: The Committee is asked to consider and agree that the Annual Governance and Accountability Return for the year ending 31 March 2021 accurately presents the financial management of the Council as required by the Accounts and Audit Regulations 2015 and agrees to recommend them to Council for approval and adoption as follows:
7.1 To agree Section 1: The Annual Governance Statement 2020/2021.
RECOMMENDATION: The Committee agrees to recommend the Annual Governance Statement 2020/2021 to Council for approval and adoption.
7.2 To agree Section 2: The Accounting Statement 2020/2021 and note the explanation of the difference between boxes 7 & 8 on the return.
RECOMMENDATION: The Committee agrees to recommend the Accounting Statement 2020/2021 to Council for approval and adoption.
7.3 To adopt the Annual Internal Audit Report 2020/2021.
RECOMMENDATION: The Committee agrees to recommend the Annual Internal Audit Report 2020/2021 to Council for approval and adoption.
7.4 To agree the period of the publics’ right of inspection will be 14 June 2021 to 23 July 2021 (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 14 June 2021 to 23 July 2021, to Council for approval and adoption.
8. Payments and receipts for Month 1 (April 2021): The committee is asked to:
8.1 Note payments of £14,887.96 (excl. VAT).
8.2 Note receipts of £144,720.11 (no VAT) includes the half year precept of £132,260.
9. Financial monitoring: To note the account records for month 1 (April 2021) in accordance with the Financial Regulations of the Parish Council, as follows:
9.1 Bank Reconciliations.
9.2 Balance Sheet.
9.3 Detailed Income and Expenditure by Budget Heading.
9.4 Summary Income and Expenditure.
9.5 VAT Return April 2021
10. Deposits and investment:
10.1 As of 30 April 2021, the Parish Council held the following balances.
Financial Institution Account Type Maturity Date Amount
Unity Trust Current account n/a £251,685.79
Nationwide 95 Day Savings Account 95 days’ notice £88,336.72
Cambridge & Counties BS 3 Year Fixed Term Bond 10/05/2021 £51,716.82
Cambridge & Counties BS 3 Year Fixed Term Bond 14/11/2021 £36,559.10
United Trust Bank 1 Year Fixed Term 17/12/2021 £85,000.00
Hodge Bank 1 Year Fixed Term 13/01/2022 £85,000.00
10.2 At 30 April 2021 a further £46,391.59 is held with the CCLA in shares.
11. Insurance Renewal for the Parish Council: To consider a briefing note and three quotes for the renewal of the Parish Council Insurance for 1 June 2021 for three years. (These quotes exclude the Village Centre charity which is insured separately.)
12. Standing Orders: To review the Standing Orders and recommend them to Council for approval and adoption on 27 May 2021.
RECOMMENDATION: The Committee agrees to recommend the Standing Orders to Council for approval and adoption.
13. Financial Regulations: To review the Financial Regulations and recommend them to Council for approval and adoption on 27 May 2021
RECOMMENDATION: The Committee agrees to recommend the Financial Regulations to Council for approval and adoption.
14. 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 27 May 2021.
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.
15. To note any further information items, correspondence received or requests