10-21-25 G&F MINS

MINUTES OF THE LOUTH TOWN COUNCIL GOVERNANCE AND FINANCE COMMITTEE
HELD IN THE OLD COURT ROOM, THE SESSIONS HOUSE, LOUTH
ON TUESDAY 21st OCTOBER 2025

Chairman, Cllr. Mrs. E. Ballard (Mrs. EB) (in the chair).

Present Councillors: J. Baskett (JB), J. Drake (JD), G.E. Horton (GEH), Mrs. J. Makinson-Sanders (Mrs. JMS), D. Moore (DM), Mrs. K. Parsons (Mrs. KP), P. Starsmore (PS), Mrs. P.F. Watson (Mrs. PFW), D.E. Wing (DEW).

Councillors not present: M. Barnes (MB), H. Filer (HF), D. Hobson (DH).

The Town Clerk, Mrs. L.M. Phillips and the Town Clerk’s Assistant, Mrs. S. Chitauro-Adlard, were also present.

G17. Apologies for Absence
Apologies were received from Cllrs. HF and DH.

G18. Declarations of Interest / Dispensations
There were no declarations of interest or dispensations made.

G19. Minutes
It was proposed, seconded and RESOLVED that the notes of the Governance and Finance Committee meeting held on 19th August 2025 be approved as the minutes.

G20. Finance
On a recommendation by FOG, it was proposed, seconded and RESOLVED to note/approve/authorise the following financial information:
a. Receipts and Payments – Cashbooks 1 and 2, Months 1-4
i. Month 1
1. Cash Book 1 Receipts £179,733.29 Payments £93,461.42
2. Cash Book 2 Receipts £0.00 Payments £61.08
ii. Month 2
1. Cash Book 1 Receipts £10,356.56 Payments £36,252.67
2. Cash Book 2 Receipts £50.00 Payments £67.06
iii. Month 3
1. Cash Book 1 Receipts £2,730.10 Payments £38,762.21
2. Cash Book 2 Receipts £0.00 Payments £33.57
iv. Month 4
1. Cash Book 1 Receipts £3,401.58 Payments £41,975.88
2. Cash Book 2 Receipts £0.00 Payments £23.48
b. Detailed Income and Expenditure Report (Budget Variance Report) as at Month 4 to 31st July 2025.
c. Earmarked Reserves Report as at 31st July 2025.
d. Statutory Balance Sheet and Cashbook 1 and 2 Bank Reconciliations as at 31st July 2025 which reconcile to account statements showing the balances as follows:
i. Lloyds Treasurers Account (balance on statement 4) as at 31st July 2025 – £296,246.18.
ii. Petty Cash (balance as at 31st July 2025) – -£14.82.
iii. Lloyds Deposit Account (balance on statement 4 as at 31st July 2025) – £166,652.51.
iv. National Savings and Investment Account (balance on statement 14 as at 21st May 2025) – £113,426.50.

G21. Risk Management Policy
The Committee reviewed the above policy, and it was proposed, seconded and RESOLVED to approve for use.

G22. Reserves Policy
Upon review of the above policy, it was proposed, seconded and RESOLVED to approve for use.

 

G23. Closed Session
At 8.48pm upon a proposal by Cllr. PS, seconded by Cllr. GEH, it was RESOLVED to move into closed session in accordance with the Public Bodies (Admission to Meetings) Act 1960 due to the business to be discussed in the following items, the information being of a confidential, commercial and third-party nature in regard to:
a. London Road Sports Partnership – The Committee received financial documentation from the London Road Sports Partnership in support of their request for funding and, after consideration, it was proposed, seconded and RESOLVED to grant the full sum of £20,000 requested.
a. Grants – The Committee discussed an application from the Louth and District Concert Society and it was proposed, seconded and RESOLVED to award them a grant of £500.00.

At 9.00pm it was proposed, seconded and RESOLVED to move out of closed session.

G24. Next Meeting
It was noted that the next scheduled Governance and Finance meeting would take place on 9th December 2025.

 

The Meeting Closed at 9.01pm.

 

Signed_______________________ (Chairman) Dated_________________________