12-10-24 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 10th DECEMBER 2024

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

Present Councillors: J. Baskett (JB), J. Drake (JD), H. Filer (HF), G.E. Horton (GEH), D. Hobson (DH), Mrs. J. Makinson-Sanders (Mrs. JMS), D. Moore (DM), Mrs. K. Parsons (Mrs. KP), P. Starsmore (PS), Mrs. P.F. Watson (Mrs. PFW).

Councillors not present: M. Barnes (MB), L.M. Cooney (LMC), D.E. Wing (DEW).

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

G29. Apologies for Absence
Apologies were received from Cllrs. MB, LMC and DEW.

G30. Declarations of Interest / Dispensations
There were no declarations of interest or dispensations made.

G31. Minutes
It was proposed, seconded and RESOLVED that the notes of the Governance and Finance Committee meeting held on 8th October 2024 be approved as the minutes.

G32. Finance
On a recommendation by FOG, it was proposed, seconded and RESOLVED to note/approve/authorise the following financial information in relation to Month 6:
a) 1. Cash Book 1 Receipts £157,470.54 Payments £31,215.49
2. Cash Book 2 Receipts £0.00 Payments £38.14
b) Detailed Income and Expenditure Report (Budget Variance Report) as at Month 6 to 30th September 2024.
c) Earmarked Reserves Report as at 30th September 2024.
d) Balance Sheet and Cash Book 1 and 2 Bank Reconciliations as at 30th September 2024 which reconcile to account statements showing balances as follows:
i. Lloyds Treasurers Account (balance at 30/09/24 on statement 6) – £440,776.77.
ii. Petty Cash (balance as at 30/09/24 – £156.74.
iii. Lloyds Deposit Account (balance on statement 6 printed 25th November 2024) – £166,652.51.
iv. National Savings and Investment Account (balance on last statement received (no. 12) as at 01/01/24) – £112,300.42.

G33. Budget 2025/26
The Committee received and discussed the draft budget 2025/26. After reviewing and receiving a recommendation from FOG, it was proposed, seconded and RESOLVED to recommend the budget to the next Town Council meeting on 14th January 2025.

G34. Local Government Services Pay Agreement from 1st April 2024
The Committee noted that agreement on the above had been reached, that amendments to pay scales had been implemented and backpay had been issued.

G35. Closed Session Item
Following a proposal by Cllr. Mrs. PFW, which was seconded by Cllr. Mrs. JMS, it was RESOLVED to move into closed session at 9.30pm in accordance with the Public Bodies (Admission to Meetings) Act 1960 in order to discuss information regarding a third party in relation to Our Hall Louth. After the discussion, it was proposed, seconded and RESOLVED to move out of closed session at 9.40pm.

G36. Next Meeting
It was noted that the date of the next scheduled Governance and Finance Committee meeting was 25th February 2025.

The Meeting Closed at 9.40pm.

Signed_______________________ (Chairman) Dated_________________________