02-20-24 G&F MINS

 

MINUTES OF THE LOUTH TOWN COUNCIL GOVERNANCE AND FINANCE COMMITTEE
HELD IN THE OLD COURT ROOM, THE SESSIONS HOUSE, LOUTH
ON TUESDAY 20^th FEBRUARY 2024

                                                 Councillor Mrs. E. Ballard (Mrs. EB) (in the chair).

Present Councillors: M. Barnes (MB), J. Baskett (JB), Mrs. S. Crew (Mrs. SC), J. Drake (JD), L. Frost (LF), D. Hobson (DH), G.E. Horton (GEH), Mrs. J. Makinson-Sanders (Mrs. JMS), Mrs. K. Parsons (KP), J. Simmons (JS), P. Starsmore (PS), Mrs. P.F. Watson (Mrs. PFW).

 

Councillors not present: L.M. Cooney (LMC), H. Filer (HF), M. Lamb (ML).

 

The Town Clerk, Mrs. L.M. Phillips and the Town Clerk’s Assistant, Miss. S. Chitauro were also present.

 

• Apologies for Absence
  Apologies were received from Cllrs. LMC, HF and ML.

 

• Declarations of Interest / Dispensations
  There were no declarations of interest or dispensations made.

 

• Minutes
  It was RESOLVED that the notes of the Governance and Finance Committee meeting held 12^th December 2023 be approved as the minutes.
• Finance
  It was RESOLVED to note/approve/authorise the following:
  1. Receipts and Payments – Cashbooks 1 and 2
     71. Month 7
         1.   Cash Book 1         Receipts        £3,182.65            Payments       £26,421.88
     72. Cash Book 2 Receipts           £220.00            Payments        £100.22
     73. Month 8
         1.   Cash Book 1         Receipts      £76,781.46            Payments       £208,996.46
     74. Cash Book 2 Receipts               £0.00            Payments        £132.66

• Month 9
  1.   Cash Book 1         Receipts        £1,763.94            Payments       £27,307.61

2. Cash Book 2 Receipts           £250.00            Payments        £230.00

2023. Detailed Income and Expenditure Report (Budget Variance Report) as at Month 9 to 31^st December 2023.
2024. Earmarked Reserves Report as at 31^st December 2023.
2025. Balance Sheet to 31^st December 2023 and Cash Book 1 and 2 Bank Reconciliations which reconcile to account statements showing balances as follows:
      564. Lloyds Treasurers Account (balance at 31/12/23 on statement 85) – £340,564.48.
      565. Petty Cash (balance as at 31/12/23) – £118.11.

• Lloyds Deposit Account (balance on statement 9) – £166,652.51.

438. National Savings and Investment Account (balance on statement 12) – £111,438.22.

1. The Committee RESOLVED that any cheque uncashed after 1 year should be stopped at the bank and written back into the accounts by staff, automatically.

• Risk Management
  The Committee received a recommendation from FOG to approve the revised Risk Management arrangements and it was RESOLVED to approve with the following revisions:
  1. Aim – To influence other Council departments and Government organisations to fulfil the requirements of the town population. Risk – Lack of effective lines of communication with parishioners.  Method to minimise risk – e) to be amended to ‘Look to create a Town Council Forward Plan and seek parishioner’s views on vision and aims’.
  2. Aim – As before. Risk – Lack of confidence by Town Councillors to be amended to ‘Personal lack of confidence/experience by Town Councillors’
  3. Aim – Secure Online Banking. Risk – to be amended to ‘Approved Councillor signatories making payments incorrectly using the Town Council bank account’.

• Citizen’s Advice Lincoln and Lindsey – Funding Contribution
  The Committee noted that the Council approved an amount of £1,000 in the 2023/24 budget for release to the above, as per the Council’s powers under s142(2A) of the LGA 1972 and received an update on how the organisation is faring. It was RESOLVED to increase the budget for this by £50 each year, starting 2024/25.

• Next Meeting
  It was noted that the date of the next scheduled Governance and Finance Committee meeting was 9^th April 2024.

 

The Meeting Closed at 9.21pm.

 

 

Signed_______________________ (Chairman)                Dated_________________________