November 2020 Minutes
Minutes of the Finance Committee meeting held on Tuesday 17th November 2020 at 2.00pm 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
In attendance:
Lucy Waller – Town Clerk and Responsible Financial Officer (RFO)
The Meeting opened at 14.03
1. Chairman’s opening remarks
The Chairman welcomed members and gave a brief explanation of how voting would take place.
2. To approve and accept Apologies for absence and reasons given.
None
3. 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
4. Festival Hall / Market Place Fees 2021/22 recommendations and VAT.
Members noted the officer reports, and it was RESOLVED that fees remain unchanged for 2021/22 and VAT charged be updated inline with the professional advice received.
5. To resolve estimate precept request to be sent to WLDC under delegated powers.
Members noted the RFO suggested budget estimate and accompanying notes, based on the information received at that time. It was noted that this was an estimate only and the final precept amount requested by Full Council would be subject to change upon the receipt of a confirmed tax base from West Lindsey District Council and any other further information received.
Following discussion, it was RESOLVED that a precept estimate of £129,023 be forwarded to West Lindsey District Council under the committee’s delegated powers as per the committee terms of reference.
The Chairman requested that the Committee’s thanks to officers for the comprehensive reports be noted.
6. No note the detailed income and expenditure report to end of Quarter 2 2020/21
Members noted the report.
7. To appoint a committee member to complete internal control checklist for Q2 2020/21
It was RESOLVED that Councillor Harrold complete the control checklist for Q2 to be received at the next committee meeting. Councillor Taylor volunteered to undertake the Q3 checklist when required.
8. Suggested amendments to Financial Regulations / Standing Orders to meet current arrangements.
Members noted the officer report and RESOLVED that a recommendation be made to Full Council to alter the Financial Regulations as outlined below:
6.4 Cheques or orders for payment drawn on the bank account in accordance with the schedule as presented to council or committee shall be signed by two members of council. If a member who is also a bank signatory has declared a disclosable pecuniary interest, or has any other interest, in the matter in respect of which the payment is being made, that Councillor shall be required to consider Standing Orders, and thereby determine whether it is appropriate and / or permissible to be a signatory to the transaction in question.
Changed to read:
Cheques in accordance with the schedule as presented to council or committee shall be signed by two members of council. Orders for electronic payment drawn on the bank account in accordance with the schedule presented to Council or Committee shall be authorised electronically via email response by two members of council. If a member who is also a bank signatory has declared a disclosable pecuniary interest, or has any other interest, in the matter in respect of which the payment is being made, that Councillor shall be required to consider Standing Orders, and thereby determine whether it is appropriate and / or permissible to be a signatory to the transaction in question.
6.5 To indicate agreement of details shown on the cheque/order for payment with the counterfoil and the invoice or similar documentation, signatories shall also initial the cheque counterfoil.
Changed to read:
To indicate agreement of details shown on the cheque/order for payment with the counterfoil and the invoice or similar documentation, signatories shall initial the cheque counterfoil or in the case of electronic payment provide an email response acknowledging they have checked all proposed invoices and agree with the details provided in the email from the RFO containing copy invoices of all proposed payments to be made and the schedule of payments presented to council.
5.2 The RFO shall prepare a schedule of payments requiring authorisation, forming part of the Agenda for the Meeting and, together with the relevant invoices, present the schedule to council or finance committee. The council / committee shall review the schedule for compliance and, having satisfied itself shall authorise payment by a resolution of the council or finance committee. The approved schedule shall be ruled off and initialled by the Chairman of the Meeting. A detailed list of all payments shall be disclosed within or as an attachment to the minutes of the meeting at which payment was authorised. Personal payments (including salaries, wages, expenses, and any payment made in relation to the termination of a contract of employment) may be summarised to remove public access to any personal information.
Changed to read:
The RFO shall prepare a schedule of payments requiring authorisation and present this electronically to Councillors prior to the meeting of Full Council. Electronic copies of the Schedule of Payments and Invoices will be provided to two appointed members as per 6.4 &6.5 below for checking and authorisation to make payments by internet banking. Electronic copies of invoices are available to all councillors on request. The Council shall review the schedule for compliance and, having satisfied itself shall authorise payment by a resolution of the council. A detailed list of all payments shall be disclosed within or as an attachment to the minutes of the meeting at which payment was authorised. Personal payments (including salaries, wages, expenses, and any payment made in relation to the termination of a contract of employment) may be summarised to remove public access to any personal information.
(Councillor Harrold left the meeting at 14:38)
9. Finance Issues including:
• Banking arrangements.
Members noted that bank accounts offering services more in keeping with the internal controls required by the Town Council were available via other banks.
It was RESOLVED that a recommendation be made to Full Council that the Finance Committee be given delegated powers to decide on the council’s future banking provider and make the arrangements for account transfers if necessary , following consideration of a detailed report from the RFO.
• Review of internal controls.
Members noted that the internal auditor had suggested a review or audit of the Council’s internal controls which would come before the committee on completion and that this would be set against the guidelines in the Joint Panel on Accountability and Governance Practitioners Guide (March 2020).
The meeting closed at 14:48