12-09-25 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 9th DECEMBER 2025

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

Present Councillors: J. Baskett (JB), J. Drake (JD), H. Filer (HF), D. Hobson (DH), G.E. Horton (GEH), Mrs. J. Makinson-Sanders (Mrs. JMS), Mrs. K. Parsons (Mrs. KP).

Councillors not present: M. Barnes (MB), D. Moore (DM), Mrs. P.F. Watson (Mrs. PFW), D.E. Wing (DEW).

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

G25. Apologies for Absence
Apologies were received from Cllrs. DM and Mrs. PFW.

G26. Declarations of Interest / Dispensations
There were no declarations of interest or dispensations made.

G27. Minutes
It was proposed, seconded and RESOLVED that the notes of the Governance and Finance Committee meeting held on 21st October 2025 be approved as the minutes.

G28. 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 5 and 6.
i. Month 5
1. Cash Book 1 Receipts £3,279.73 Payments £29,562.70
2. Cash Book 2 Receipts £250.00 Payments £29.95
ii. Month 6
1. Cash Book 1 Receipts £178,965.30 Payments £20,425.37
2. Cash Book 2 Receipts £0.00 Payments £138.18
b. Detailed Income and Expenditure Report (Budget Variance Report) as at Month 6 to 30th September 2025.
c. Earmarked Reserves Report as at 30th September 2025.
d. Statutory Balance Sheet and Cashbook 1 and 2 Bank Reconciliations as at 30th September 2025 which reconcile to account statements showing the balances as follows, the reports for which were signed by the Chairman, Mrs. EB and Vice Chairman, GEH:
i. Lloyds Treasurers Account (balance on statement 6) as at 30th September 2025 – £428,603.14.
ii. Petty Cash (balance as at 30th September 2025) – £67.05.
iii. Lloyds Deposit Account (balance on statement 6 as at 30th September 2025) – £166,652.51.
iv. National Savings and Investment Account (balance on statement 14 as at 21st May 2025) – £113,426.50.

G29. Budget 2026/27
The Committee received a recommendation from FOG to approve the draft budget 2026/27, including Earmarked Reserves. After discussion, it was proposed, seconded and RESOLVED to:
a. Accept the draft budget and recommend to Town Council the precept of 377,090.17, an increase of 19% per Band D Property or a weekly cost to a band D property of £1.24 (using 2024/25 tax base rates), with £41,705 to be taken from General Reserves.
b. Accept the draft Earmarked Reserves and recommend to Town Council the Earmarked Reserves which were to be topped up by £24,685.82 from General Reserves.

G30. Closed Session
It was proposed, seconded and RESOLVED to stay in open session to discuss grant applications. After consideration of each application, it was proposed, seconded and RESOLVED to award the following:
a. Louth Male Voice Choir – £1,000.
b. Hope For Tomorrow – £500.
c. Waveform Arts – £0.
G31. Next Meeting
It was noted that the next scheduled Governance and Finance meeting would take place on 3rd March 2026.

The Meeting Closed at 8.32pm.

 

Signed_______________________ (Chairman) Dated_________________________