To receive and consider the report of the Town Clerk to designate and update signatories and permissions on the Council’s bank mandates.
The Committee received and considered the report of the Town Clerk concerning the Council’s banking arrangements.
Members agreed that the arrangements should be amended to reflect the new staffing changes at the Council. It was suggested that recommendations proposing members of this committee as signatories should be finalised at the Annual Meeting of the Council due to possible membership changes at that time.
1. That the report be noted; and,
2. That the Deputy Town Clerk be listed as a cheque signatory on the Barclays Bank Imprest Account and being able to sign cheques up to £5,000;
3. That the Responsible Finance Officer and in their absence the Administrative Support Assistant: Policy, Governance & Finance, is set-up to be able to cash cheques up to £500 at the local Barclays Bank branch to replenish the Council’s petty cash account;
That the following items be agreed but finalised at the Annual Meeting of the Town Council on 12 May 2021.
4. That the Members of the Policy, Governance and Finance Committee be authorised signatories on Barclays Bank mandates and if necessary two members be named to be able to act on behalf of the Council – in the absence of the Town Clerk, should the need arise;
5. That Members of the Policy, Governance and Finance Committee be authorised signatories on the CCLA Accounts and that in particular two are named to act on behalf of the Council – in the absence of the Town Clerk, should the need arise;
6. That the Town Clerk is also listed on the bank mandate for the Barclays Bank General and Business Premium Account as being able to deal with transfers between accounts as well as setting up direct debits;
7. The implementation of online banking with the Council’s current banking provider, Barclays Bank PLC, be agreed subject to the amendments to the Council’s Financial Regulations, which will be presented to a future meeting of this Committee.