February 2021 Minutes
Minutes of the Finance Committee meeting held on Monday 1st February 2021 at 10.00am via Zoom.
IN ACCORDANCE WITH THE CORONAVIRUS ACT 2020 THIS MEETING TOOK PLACE VIRTUALLY VIA ZOOM
Present:
Councillor S. Bunney (Committee Chairman), Councillor J. Matthews (Committee Vice-Chairman), Councillor P. Harrold, Councillor N. Taylor (Cllr Taylor joined the meeting at 10.14am)
In attendance:
Lucy Waller – Town Clerk and Responsible Financial Officer (RFO)
The Meeting opened at 10.00am
1. Chairman’s opening remarks
The Chairman welcomed members.
To approve and accept Apologies for absence and reasons given.
None
2. To receive any declarations of interest in accordance with the requirements of the localism Act 2011 and to consider any applications for dispensations in relation to Disclosable Pecuniary Interests.
None
3. To resolve to approve the draft minutes of the last meeting, held on 17 November 2020 as a correct record.
It was RESOLVED to approve the draft minutes of the last meeting, held on 17 November 2020 as a correct record.
4. No note the detailed income and expenditure report to end of Quarter 3 2020/21 and consider any necessary budget virements.
The report was noted along with the RFO comments in relation to any significant variances.
5. To note the internal control checklist for Q2 2020/21 and nominate a member to undertake the internal control checklist for Q3 2020/21.
Members noted the completed checklist, and it was RESOLVED to appoint Councillor N. Taylor to undertake the Q3 2020/21 checklist.
(Cllr N. Taylor entered the meeting at 10:14)
6. To note the RFO audit of internal control and summary report and resolve any actions / recommendations.
Members noted the report and the identified four areas of possible improvement, It was noted that 3 of the areas would be addressed in subsequent agenda items and that on the return of office staff to the office full inventories of stock and assets would be undertaken along with an asset review.
7. To note the RFO report on Bank Account suppliers and resolve any actions/recommendations.
Members noted the report in conjunction to the areas of improvement highlighted within the RFO audit of internal control and summary reports.
It was RESOLVED to recommend to full council:
• The Council move all bank accounts to Unity Trust Bank at the start of the new financial year. With the Members of the Finance Committee as signatories along with the Clerk.
• Petty Cash be removed completely.
• It be delegated to the Clerk in conjunction with the Chairman of the Finance Committee to investigate, select and if necessary, enter the council in a contract for a system to enable payments by debit card to the council.
• The council adopt a non-acceptance of cheque payments policy, except for in extenuating circumstances.
8. To resolve that under the public bodies (admission to meetings) act 1960, the public and representatives of the press and broadcast media be excluded from the meeting during the consideration of the following items of business as publicity would be prejudicial to the public interest because of the confidential nature of the business to be transacted.
The above RESOLUTION was passed.
9. Debtors List.
Members noted the report it was RESOLVED that a historical low level bad debt be removed from the accounts at year end and the Clerk to make arrangements for the repayment of another debt.
The Meeting closed at 11.02