Agenda item

ANNUAL GOVERNANCE STATEMENT & STATEMENT OF ACCOUNTS 2021-2022

(a)  To receive and recommend to Council approval of the Statement of Accounts for the year ended 31 March 2022 (attached).

 

(b)  To receive a report regarding the statement of accounts for the year ended 31 March 2022 (attached) and to consider the recommendation/s contained therein.

 

(c)  Further to agenda items 10 and 11, to consider recommending to Council approval of Section 1 of the Annual Governance and Accountability Return (the annual governance statement for 2021-2022) (attached).

 

(d)   To receive and consider recommending approval to Council of Section 2 of the Annual Governance and Accountability Return (the accounting statements for year ended 31 March 2022) (attached).

 

 

Minutes:

The Committee received an information report in respects of town council finances for the year ended 31 March 2022 and considered the recommendations contained therein. Despite the ongoing impact of Covid, income for the year had exceeded forecast and coupled with prudent expenditure, resulted in a surplus for the year. It was recommended that this be ringfenced for a number of future projects and likely future costs.

 

RECOMMENDED to Council for approval of the Statement of Accounts for the year ended 31 March 2022, noting the transfer of £281,279 into earmarked reserves (including £5,000 to I.T, £5,000 to market stall repair/replacement, £10,000 to climate emergency and £10,000 to consultation for town facilities).

 

RECOMMENDED to Council that in respect of the 2021-22 surplus of £101,389 currently in the general reserve, the following actions be undertaken:

 

(i)         Transfer of £26,958 into the existing Precept Support Fund earmarked reserve.

(ii)        Transfer of £3,962 into the existing Elections earmarked reserve.

(iii)       Transfer of £40,000 into the existing Grounds Maintenance earmarked reserve.

(iv)      Transfer of £25,000 into a new earmarked reserve for the funding of a Community Agent in 2023-2025 (further to the recommendation made by the Cultural & Economic Committee on 13 June 2022)

(v)       Transfer of an additional £5,000 to market stall repair and replacement due to increasing demand for market pitches.

 

RECOMMENDED to Council that Section 1 of the Annual Governance and Accountability Return (the Annual Governance Statement) for the year ended 31 March 2022 be approved and signed.

 

RECOMMENDED to Council that Section 2 of the Annual Governance and Accountability Return (the Annual Governance Statement) for the year ended 31 March 2022 be approved and signed.

Supporting documents: