TIBBERTON PARISH COUNCIL
MINUTES OF FINANCE COMMITTEE MEETING
THURSDAY 2nd MARCH 2023, 6.30PM
at TIBBERTON PARISH HALL
Committee Members present: Cllr Diana Nutting, Chairman, Cllr Michael Doolin, vice-Chairman, Cllr Mike Leci
Committee Members absent: Cllr Rob Grimer.
In attendance: Cllr Margaret Rowley, Gill Lungley, Acting Clerk/Support Officer
- Chairman’s welcome. The Chairman welcomed all to this meeting.
- To receive and note apologies for absence. Cllr Rob Grimer had sent apologies for absence.
- Declarations of interest. None
- Written requests for dispensation. No requests for dispensation had been received.
- To agree minutes of the meeting held 02/02/2023. The minutes of the committee meeting held 02/02/2023 were agreed a true record and signed by the Chairman.
- To note and comment on the updated budget comparison. See next page. Members noted the overspend relating to:
- Salaries: with reasons noted.
- Admin expenses: includes admin contractor’s fees.
- Equipment includes for new laptop and admin tools.
- Costs relating to the new village hall.
The underspends were also noted and discussed:
- Audit: awaiting the external auditor to complete the annual return.
- Elections: a contingency figure in case of a by-election.
- Subscriptions: no additional subscriptions are expected.
It was noted a new battery is to be purchased for the VAS.
- To review the council’s management of risk via the Internal Controls Policy with Statement of Internal Controls and the Operational Risk Assessment as agreed at meeting held 02/02/2023.
The Operational Risk Assessment is at appendix A. The Statement of Internal Controls is at appendix B, only half-completed due to time constraints. It will be completed at the next committee meeting. Future updates would include reference to Earmarked Reserves and CIL availability.
- To agree the process of the monthly bookkeeping review. The paperwork was circulated and explained. It was expected that the opening balance would match the closing balance shown on the previous year’s AGAR, but in this case it does not due to the way the current accounts have been put together ie by reference solely to the bank statements which do not account for unpresented cheques. The bank reconciliation will be amended to show the same opening balance as the closing balance figure on last year’s AGAR. The review would be circulated by email to members, along with copies of invoices to be reported back to the next meeting of this committee.
- To receive an update on internal audit arrangement. DKE Audit had provided references to the satisfaction of the committee. The Acting Clerk had discussed the process for the 2022/23 internal audit and would be meeting with DKE Audit on 15th March.
- To consider post-election business continuity arrangements. It is a possibility that if all current members either do not stand for election, or stand but are not re-elected, then there will be no authorised signatories to the bank accounts. It was therefore agreed to recommend to the next meeting of the parish council (04/04/2023) to resolve to allow current authorised signatories to continue to authorise payments at the bank following council approval of payments, until the new members are added to the bank mandate.
- Items for discussion at next meeting. To seek quotes for a sector-specific accounts package.
- Date and time of next meeting. The next meeting is to be held on 4th April 2023, 6.30pm. This meeting ended at 7.25pm.
Signed as a true record:
Chairman, Finance Committee
TIBBERTON PARISH COUNCIL
OPERATIONAL RISK ASSESSMENT – Annual Check
|Date policy adopted by Finance Committee||02/03/2023|
|Date of review||02/03/2023|
|Date of next review||March 2024|