Minutes
Finance and Risk Committee Meeting Minutes
18:45pm Wednesday 19 March 2025
Function Room, St Andrews Community Centre, Saxilby.
Members Present
Cllrs Barratt (vice-chair and meeting chair), Hillman, and Shepherd.
Absent
Cllrs Bridge, Crump, Saunders, and Waller.
In Attendance
Lydia Hopton, Clerk.
Meeting
F25/027 1. Receive apologies for absence.
Cllrs Bridge, Crump, and Waller.
F25/028 2. Receive declarations of interest in accordance with the Localism Act 2011 and consider granting dispensation requests
None received.
F245/029 3. Approve notes of the 19 February 2025 finance and risk committee meeting as minutes
Having been proposed (Cllr Barratt) and seconded (Cllr Shepherd) it was RESOLVED to:
Approve the notes of the 19 February 2025 finance and risk committee meeting as minutes and the chair to sign.
F25/030 4. Note the meeting action log
Noted.
Finance
F25/031 5. Review the internal auditor reports for month end and agree any recommended actions (Financial Reg. 2) Month 11: February
The report was reviewed and noted.
To approve the February 2025 (month 11) financial reports (FR.5b)
F25/032 6. Income and expenditure report (FR.4i), explanations of variances report and agree any virements and journals
Having been proposed (Cllr Hillman) and seconded (Cllr Barratt), it was RESOLVED to:
To approve the February 2025 (month 11) income and expenditure report, including explanations of variances and agree the proposed virements and journals.
F25/033 7. Verified bank reconciliations and sign the reconciliation and bank statements (FR.2b) [report pp1-10].
Having been proposed (Cllr Hillman) and seconded (Cllr Barratt), it was RESOLVED to:
Approve the verified bank reconciliations and sign the reconciliation and bank statements.
F25/034 8. Income, payments, and transfers (FR.5b)
Having been proposed (Cllr Barratt) and seconded (Cllr Hillman), it was RESOLVED to:
Approve the income, payments, and transfers reports.
Risk
F25/035 9. To recommend to full council the draft investment strategy
Having been proposed (Cllr Shepherd) and seconded (Cllr Barratt), it was RESOLVED to:
Recommend to full council approval of the draft investment strategy, seeking any further feedback from committee members by 27 March 2025 prior to being tabled in April.
F25/036 10. CLOSED SESSION - Committee to resolve to go into closed session in accordance with the Public Bodies (Admissions to Meetings) Act 1960 for the following item on the grounds that publicity would be prejudicial to the public interest by reason of the confidential nature of the business to be transacted.
Having been proposed (Cllr Hillman) and seconded (Cllr Shepherd), it was RESOLVED to:
Enter into closed session.
F25/037 11. Review the outstanding purchase ledger and sales ledger balances, agree actions making any recommendations to full council [Cllr report pp36-41]
The outstanding purchase ledger and sales ledger balances were reviewed.
It was requested to share the guarantee on the Queensway bus shelter.
The meeting closed at 19:24.
Please be advised these are notes of the meeting taken by the assistant clerk and cannot in any way be regarded as the official minutes of council proceedings until they are approved and signed at the next meeting.