MANAGEMENT ACCOUNTS – FINANCIAL REPORT FOR THE PERIOD 1 APRIL 2021 to 30 SEPTEMBER 2021
In addition to this overview 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 September 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. We have not been formally notified that the name has changed to Suffolk Building Society hence why they are still referred to as Ipswich Building Society.
These financial reports give a clear picture of the financial position halfway through the financial year. For simplicity all figures are rounded.
Total income received in 2021/22 so far is £185,744, which includes CIL receipts transferred to an ear marked reserve of £77,646 and both instalments of the Precept. We have a raised a query with ESC because we have received £729 more than we requested. Without CIL overall income was £108,098.
Overall expenditure in 2021/22 so far is £114,794. Of this sum, £56,131 has been paid out of CIL and grants. Otherwise, expenditure amounts to £58,663 which is just under 47% of the budgeted expenditure for the year. Significant expenditure this month included the tree safety works (£4,540).
In terms of cash resources as at 30 September, cash in the Council’s bank accounts totalled £630,853 made up as follows:
- Barclays Bank Current Account £288,620
- Barclays Bank Deposit Account £209,348
- Ipswich Building Society Deposit Account £101,116
- Lloyds Bank Treasurer’s Account £ 26,649
- Ipswich Building Society Rent Deposit Account £ 5,120
After adding as assets £428 in respect of the VAT due to us and deducting the rent deposit of £5,120 as liabilities the total liquid assets amounted to £626,161. Of that sum, £512,756 relates to the balance of CIL monies held as a restricted reserve. Therefore, there is a general reserve sum of £113,405 an increase from £79,704 at 31 August 2021.
That members of Full Council NOTE AND COMMENT on this report.
Assistant Clerk to the Council
6 October 2021