Management Accounts – Financial and Budget Report – 1st April to 30th June 2023
This report should be read in conjunction with the reports MPC(23)85.01a-g:
a. Payment Transactions – 01/04/2023 to 30/06/2023
b.Receipt Transactions – 01/04/2023 to 30/06/2023
c.Bank Reconciliation Report
d.EMR Summary Report
e.Precept/General Reserve Summary Report
Income so far this financial year is £76,838.84, which includes the first Precept instalment of £58,630.50 and a CIL receipt of £6,458.07. The remaining income is a mix of rent, fete donations and Pavilion income (£2,527.89). Expenditure as at the 30th June 2023 totalled £41,681.09 which includes the first of the two annual repayments of the PWLB loan (£9,819.62) and of this £3,738.26 has been paid out of Earmarked Reserves. The two summary reports (MPC(23)85.01d and e) give a detailed breakdown of the receipts and payments against the agreed budget.
In terms of cash resources as at 30th June 2023, cash in the Council’s bank accounts totalled £276,917.26 made up as follows:
- Lloyds Instant Savings Account £ 164,569.23
- Ipswich Building Society Deposit Account £ 102,027.17
- Ipswich Building Society Rent Deposit Account £ 5,153.64
- Lloyds Bank Treasurer’s Account £ 5,167.22
After adding as assets £364.79 (VAT owed) the total liquid assets amounted to £276,552.47. Of that sum, £170,111.42 relates to the balance of deposits, CIL and grant monies held as Earmarked Reserves:
CIL reserves £98,857.73
Melton Rd crossings project CIL EMR £19,755
Landscaping & parking improvements CIL EMR £3,717.03
Pavilion project CIL EMR £11,103.67
Bins CIL EMR £1,576.59
Divested land sinking fund CIL EMR £16,280.17
Signage CIL EMR £1,130
Hall Farm Road/SWT Events £590 (grants received from Deben Community Partnership and Cllr Smith-Lyte)
Fete EMR £950.65
Budget Risk EMR £10,000
Pavilion Kit Out £5.30
Deposits EMR £250
1st Floor Rent Deposit £5,153.64
The General Reserve position as at 30th June 2023 was £106,441.05, a reduction from £110,114.46 on 31st May 2023.
At this point in time it is not felt that any further budget adjustments are required, but the office continues to monitor the budgets closely.
- That members NOTE AND COMMENT on this report.
Clerk, Melton Parish Council