MANAGEMENT ACCOUNTS – FINANCIAL REPORT FOR THE PERIOD 1 APRIL 2021 to 30 JUNE 2021
Contained within papers FRM(21)28.01(a-g), Councillors will receive the following reports:
- Cashbooks for Barclays Current Account, Barclays Deposit Account and Lloyds Bank Treasurer’s Account. These show income and expenditure at a detailed level and Members are asked to note the income and the payments made.
- Income and expenditure by budget heading, which shows cumulative income and expenditure against budget heads for the period 1 April 2021 to 30 June 2021 and the position remaining.
- Bank reconciliation reports for all three accounts to note and review.
- Cashbooks and bank reconciliations for the Ipswich Building Society Deposit Account and Ipswich Building Society Rent Deposit Account are not included as there is no change from the previous month.
These financial reports give a clear picture of the financial position at the end of the first quarter of the financial year. For simplicity all figures are rounded.
Total income received in 2021/22 so far is £131,401, which includes CIL receipts transferred to an ear marked reserve of £77,646. Without CIL overall income was £53,755. £550 was received from hire of the tennis courts in June and £1,050 has been received so far this year, which is over 40% of predicted tennis hire income for the year.
Overall expenditure in 2021/22 so far is £80,440. Of this sum, £50,428 was paid in the first quarter out of CIL, (including nearly £42k for the car park project, £3k for the Speed Indicator Device/solar panel, additional CCTV camera, dog poo bin, bike racks, tree safety works and the flagpole) and a further £500 from a grant for the WW2 memorial restoration. Otherwise, expenditure amounts to £29,512 which is just under 24% of the budgeted expenditure for the year.
In terms of cash resources as at 30 June, cash in the Council’s bank accounts totalled £597,804 made up as follows:
- Barclays Bank Current Account £295,210
- Barclays Bank Deposit Account £162,491
- Ipswich Building Society Deposit Account £101,116
- Lloyds Bank Treasurer’s Account £ 33,867
- Ipswich Building Society Rent Deposit Account £ 5,120
After adding as assets £13,489 in respect of the VAT due to us and deducting the rent deposit of £5,120 as liabilities the total liquid assets amounted to £606,173. Of that sum, £517,959 relates to the balance of CIL monies and grants held as a restricted reserve. Therefore, there is a general reserve sum of £88,214 a decrease from £94,003 at 31 May 2021.
That members of Full Council NOTE AND COMMENT on this report.
Assistant Clerk to the Council