10-10-23 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 OCTOBER 2023
Councillor L. Frost (LF) (in the chair).
Present Councillors: Mrs. E. Ballard (Mrs. EB), J. Baskett (JB), J. Drake (JD), S. Evardson (SE), H. Filer (HF), D. Hobson (DH), M. Lamb (ML), Mrs. J. Makinson-Sanders (Mrs. JMS), Mrs. K. Parsons (Mrs. KP), J. Simmons (JS), P. Starsmore (PS) and Mrs. P.F. Watson (Mrs. PFW).
Councillors not present: M. Barnes (MB), L.M. Cooney (LMC) and G.E. Horton (GEH).
The Town Clerk, Mrs. L.M. Phillips and the Town Clerk’s Assistant, Miss S. Chitauro were also present.
- Apologies for Absence
Apologies for absence were received from Cllrs. MB, LMC and GEH.
- Declarations of Interest / Dispensations
Mrs. EB – Grant Application 1 as President of the Louth Athletic Club and grant application 3 as a patron of the Louth and District Concert Society.
Cllr. SE – Grant Application 5 as an acquaintance of the organisers of Louth Fun and Friendship Festival. - Minutes
It was RESOLVED that the notes of the Governance and Finance Committee meeting held 8th August 2023 be approved as the minutes. - Finance
It was RESOLVED to note/approve/authorise the following:- Receipts and Payments – Cashbooks 1 and 2 – Months 4 and 5.
- Month 4
1. Cash Book 1 Receipts £7,035.23 Payments £13,090.94 - Cash Book 2 Receipts £0.00 Payments £46.69
- Month 5
- Cash Book 1 Receipts £1,679.28 Payments £17,229.88
- Cash Book 2 Receipts £0.00 Payments £7.70
- Month 4
- Detailed Income and Expenditure Report (Budget Variance Report) as at Month 5 to 31st August 2023.
- Earmarked Reserves Report as at 31st August 2023.
- Balance Sheet to 31st August 2023 and Cash Book 1 and 2 Bank Reconciliations which reconcile to account statements showing balances as follows:
- Lloyds Treasurers Account (balance at 31/08/23 on statement 81) – £415.573.06.
- Petty Cash (balance as at 31/08/23) – £142.02.
- Receipts and Payments – Cashbooks 1 and 2 – Months 4 and 5.
- Lloyds Deposit Account (balance on statement 8) – £166,652.51.
- National Savings and Investment Account (balance on statement 10) – £111,438.
- Online Banking
After receiving a recommendation from FOG, it was RESOLVED that the Council would sign up to Online Banking with Lloyds. Payments would be prepared by the Town Clerk as a full payment signatory and two Councillors from the ‘bank’ of Councillors authorised to sign cheques would be required to peruse the paperwork supporting the payments before authorising execution of the payments. - Budget Setting
Councillors noted that ideas for inclusion in the budget for 2023/24 were to be submitted to the Town Clerk by 31st October 2023 along with costings. - Internal Audit 2023/24
It was RESOLVED to continue the current quadripartite internal audit arrangement. - Churches, Charities and Local Authorities
Councillors received information on the above. It was noted that FOG would be discussing the company and the opportunities it could provide for investment at their next meeting on 5th December and that they would bring their findings to the next Governance and Finance Meeting on 12th - Closed Session Item
It was RESOLVED to move into closed session in accordance with the Public Bodies (Admission to Meetings) Act 1960 in order to discuss confidential and commercial information from a third party in relation to Grants. It was RESOLVED to award the following Grants:
NB: Cllr. SE left the room at 8.50pm while Grant Application 5 was discussed and re-entered for the discussion on Grant Applications 6 onwards.
- Louth Athletic Club – £310.00
- Louth and District Concert Society – £300.00
- Louth Fun and Friendship Festival – £250.00
- Louth Navigation Trust – £400.00
- Louth Male Voice Choir – £1,000.00
- Next Meeting
It was noted that the date of the next scheduled Governance and Finance Committee meeting was 12th December 2023.
The Meeting Closed at 9.10pm.
Signed_______________________ (Chairman) Dated_________________________