05-12-26 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 12th MAY 2026

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

Councillors present: T. Ball (TB), J. Baskett (JB), J. Drake (JD), H. Filer (HF), D. Hobson (DH), G.E. Horton (GEH), Mrs. H. Hunt (Mrs. HH), Mrs. J. Makinson-Sanders (Mrs. JMS), D. Moore (DM), Mrs. K. Parsons (Mrs. KP), P. Starsmore (PS), H. Steer (HS), T. Tapsfield (TT).

Councillors not present: D.E. Wing (DEW).

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

G41. Apologies for Absence
There were no apologies received.

G42. Declarations of Interest / Dispensations
There were no declarations of interest made.

G43. Minutes
It was proposed, seconded and RESOLVED that the notes of the Governance and Finance Committee meeting held on 3rd March 2026 be approved as the minutes.

G44. Finance
a. The Governance and Finance Committee reviewed Cashbooks 1 and 2, months 11 and 12 and it was proposed, seconded and RESOLVED to note/approve/authorise the following financial information:
i. Month 11
1. Cash Book 1 Receipts £23,181.38 Payments £47,166.71
2. Cash Book 2 Receipts £0.00 Payments £19.00
ii. Month 12
1. Cash Book 1 Receipts £3,555.71 Payments £92,044.78
2. Cash Book 2 Receipts £0.00 Payments £60.15
b. The Town Clerk brought the meetings attention to the tabled minutes of a recent FOG meeting and the variables detailed in the Income and Expenditure Report (Budget Variance Report) as at Month 12 31st March 2026 and clarified the reason for the differences, after which, it was proposed, seconded and RESOLVED to note/approve/authorise the detailed Income and Expenditure Report (Budget Variance Report) as at Month 12 to 31st March 2026.
c. It was proposed, seconded and RESOLVED to approve the Earmarked Reserves Report as at 31st March 2026.
d. It was proposed, seconded and RESOLVED to approve the Balance Sheet and Cashbook 1 and 2 Bank Reconciliations as at 31st March 2026 which reconciled to account statements showing the balances as follows, the reports for which were signed by the Chairman, Cllr. Mrs. EB and Vice Chairman, Cllr. GEH:
i. Lloyds Treasurers Account (balance on statement 12) as at 31st March 2026 – £213,557.59.
ii. Petty Cash (balance as at 31st March 2026) – £33.62.
iii. Lloyds Deposit Account (balance on statement 12 as at 31st March 2026) – £166,652.51.
iv. National Savings and Investment Account (balance on statement 15 as at 18th February 2026) – £114,560.77.

G45. Media Policy
The Committee noted that the above policy had been reviewed and that no changes had been made. It was proposed, seconded and RESOLVED to approve the document for continued use.

G46. Review of Effectiveness of Internal Controls for 2025/26
The Committee reviewed the above document, and it was proposed, seconded and RESOLVED to approve the document after minor amendment.

G47. Smaller Authorities Proper Practices Panel – Practitioners’ Guide
The Committee noted that the above publication, which supported smaller authorities in England in preparing statutory annual accounting and governance statements found in the Annual Governance and Accountability Return, could be viewed on the Council’s website on the Council Documents page.

G48. Next Meeting
It was noted that the next scheduled Governance and Finance meeting would take place on 9th June 2026.

The Meeting Closed at 8.28pm.

 

Signed_______________________ (Chairman) Dated_________________________