Finance and Administration Meeting 23rd May 2024

AGENDA

 

COLSTERWORTH & DISTRICT PARISH COUNCIL

FINANCE AND ADMINISTRATION COMMITTEE

CONFIRMATION OF MEETING

 

Time Date and Venue:             Thursday 23rd May 2024 at 7.00 p.m. @ Colsterworth Methodist Church

Members:                               Cllrs: E O’Neill, C Hainsworth, A Bouvie and J Clark.

In attendance                          The Clerk: S Grant

AGENDA

 

Agenda Item

Supporting documents/Notes

TOR
  1. 1

Apologies

 

 

-
  1.  

Appointment of Chair and Vice Chair

 

 
  1.  

Notes of previous meeting

(19th October 2023)

Submitted to Parish Council 1st November 2023)

Link to F&A Meeting Minutes 19.10.2023. See link https://colsterworth.parish.lincolnshire.gov.uk/downloads/file/851/f-a-minutes-19-10-2023

-
  1.  

To annually review the financial regulations (first meeting after appointment of committee)

Link to F&A Regulations.

https://colsterworth.parish.lincolnshire.gov.uk/downloads/file/893/cad-financial-regulations-2024-03-next-review-march-2025

 

 

 
  1.  

Reconciliation of Q1 – Q4 accounts

(Apr 2023 to March 2024)

 

To be provided by Clerk/RFO.

SCRIBE  Q1 – Q4 Yr End Statement of Accounts. See link https://colsterworth.parish.lincolnshire.gov.uk/downloads/file/916/statemtent-of-accounts-31-03-2024

 

Account balances to be provided by the Clerk.

2.1. & 2.13
  1.  

Monitoring recommendations/ actions from internal and external audit

Recommendations from Internal Audit report. See link   https://colsterworth.parish.lincolnshire.gov.uk/downloads/file/919/internal-audit-report-27-04-2024

 

Internal Audit Checklist. See Link https://colsterworth.parish.lincolnshire.gov.uk/downloads/file/920/internal-audit-checklist-27-04-2024

 

Policies to Review below. See Link  https://colsterworth.parish.lincolnshire.gov.uk/downloads/download/2/policies?downloadID=2

 

CAD Standing Orders

CAD Financial

CAD Code of Conduct

CAD Communications

CAD Social Media Policy

 

Recommend adopting the following Policies.

Draft CAD Training and Development Policy https://colsterworth.parish.lincolnshire.gov.uk/downloads/file/944/draft-cad-training-and-development-policy

Draft CAD Working Group Terms Of Reference (TOR) draft-cad-working-group-tor-may-2024 (lincolnshire.gov.uk)

 

To authorise a Debit Card linked to the HSBC Colsterworth Parish Council Bank Account for the Clerk.

F&A Regulations Section 6.17: Any Debit Card issued for use will be specifically restricted to the Clerk and will also be restricted to a single transaction maximum value of [£250] unless authorised by council or finance committee in writing before any order is placed.

 

External Audit Auditor’s Report and Certificate – No findings or recommendations. See link https://colsterworth.parish.lincolnshire.gov.uk/downloads/file/817/section-3-notice-of-conclusion-of-audit-2022-2023

 

External AGAR 2023-2024 signed at PC Meeting 07th May 2024 and submitted to PKF Littlejohn Auditors.

2.14.
  1.  

To annually review risk and asset registers

Risk Management Policy next review November 2024.

Risk exception Report items working towards status green. Link to Risk Report 30.04.2024 https://colsterworth.parish.lincolnshire.gov.uk/downloads/file/930/risk-report-30th-april-2024

 

Asset register to be provided by Clerk/RFO. See link  https://colsterworth.parish.lincolnshire.gov.uk/downloads/file/760/asset-register-18-04-2024

 

Resolve to renew the annual Parish Online subscription of £136.00 from 1st June 2024 when the free subscription through Clear Councils expires.

 

2.10.
  1.  

Reserves Report

See link  https://colsterworth.parish.lincolnshire.gov.uk/downloads/file/750/reserves-report-23-04-2024

1.3
  1.  

Projects and Grant applications

 

£1681.14

 

 

£4,379.65

 

 

 

 

Potential Funding schemes & criteria to be explored.

Ideas/Suggestions for new projects for 2024/2025

 

Nature Trail Tree assessment Project – Identified 3 x trees need to be felled and an additional dead tree.

 

War Memorial Project – In Process

 

Neighbourhood Plan Review

1.2.

2.6.
  1.  

Matters requiring urgent attention.

 

-
  1.  

Date and time of next meeting

TBC

-

TERMS OF REFERENCE

  1. RESPONSIBILITIES:
  1. General financial oversight
  2. Funding including grant applications
  3. Financial planning and budgeting
  4. Financial reporting to Council and the public
  5. Banking, bookkeeping and record keeping
  6. Control of fixed assets
  1. Tasks:
  1. To note the quarterly bank reconciliations (Q1: July, Q2: October, Q3: January and Q4: April)
  2. To annually review the financial regulations (first meeting after appointment of committee)
  3. Liaise with the council from October to produce a draft budget for the following year
  4. Produce draft budget for council to review in November and agree in December
  5. Submit budget for final approval in December
  6. To consider grant applications and make recommendations to council
  7. To consider necessary expenditure and make recommendations to council
  8. To review rental agreements (February)
  9. To manage employees of the council and conduct employee reviews including grievances and disciplinaries (including appeals)
  10. To annually review risk and asset registers (September/October)
  11. To review annually specifications and contracts for contractors (September/October)
  12. To produce end of year accounts and necessary sign off
  13. To provide council with quarterly reconciliation of annual budget (Q1: September (no meeting in August), Q2: November, Q3: February and Q4: May)
  14. To monitor implementation of recommendations from internal and external audits