Agenda item

To receive the joint report of the Responsible Financial Officer (RFO).

The Committee received and considered the report of the Responsible Financial Officer (RFO).

The report provided a background to the management accounts and how they were structured at the Council. Members heard it was early in the financial year; any overspends showing would be covered by budget carry forwards from the previous year and earmarked reserves. There was also significant outlay for events during the summer.

The management accounts would look markedly different in six months’ time as the way in which financial transactions through the Council’s software would be changing; with a dedicated RFO this would be dealt with in house, rather than being completed by a separate accountant/bookkeeper and utilising the software in a more effective way. This would enable more timely reporting and enable reconfiguration of the Council’s earmarked reserves and fixed asset accounting.

The Committee agreed to an additional financial matter which concerned additional funding towards the installation of a defibrillator at King George V Recreation Ground.

Resolved:

1.      That, the report be noted and,

2.      That, up to £2,200 be allocated from the Community Infrastructure earmarked reserve to cover the cost of installing a defibrillator at King George V Recreation Ground and,

3.      That, the management accounts for the Council, for the period 1 April – 30 June 2023 be approved.