Information papers for meetings

April 2021 Parish meeting (Variances for end of year accounts

VARIANCES FOR END OF YEAR ACCOUNTS 20-21

 

Income:

Burial Fees – £1,850.00 – Increase in expected end of year total (£1,700.00)

 

Interest – Decrease in expected total (£0.58)

 

VAT – Decrease in expected Total (£58.72) 

 

All other sections of expenditure were as expected.

 

Expenditure:

Salaries – Overspend on estimated budget (£6.24)

 

Admin – Overspend on estimated budget due to additional website set up/maintenance charges and upgrades to IT.

 

Subs/Training – Underspend on estimated costs (£110.48)

 

Hall Hire – Underspend on estimated costs (£53.50) – Pandemic prevented hire of hall – however, this is offset by costs of Zoom

 

Parish Grass – Underspent on estimated costs (£100.00)

Parish Maintenance – Underspend on estimated costs given that additional works were not undertaken during financial year.  Expected costs to be incurred in 21-22 year and this amount to be earmarked.

Grants – Underspent on estimated costs (£90.00), but over original budgeted amount.

Burial Ground – Overspend on estimated costs (£270.56) – due to additional ironworks and tree pruning 

PWLB – Overspend of £0.14 – loan now repaid.

VAT – Over estimated spend (321.11)

Current Account:

The current account carried forward £17K approx.  – which includes earmarked amounts for: clock repair, parish maintenance, snow clearance and underspent funds which will be spent in this financial year (ie noticeboard costs).

Savings Account:

 

We are currently carrying £17,701.03 in the Savings Account – which is just below the recommended limit for reserves (one year).

 

Clerk’s Concerns for 21-22

 

  1. Central Government spending during Pandemic may have an impact on future budgets and services which may be devolved from Local Government.
  2. Key income driver for Council – burial ground – whilst income generated this in 20-21 financial year was healthier than expected, the Parish Council need to consider that burials are becoming less frequent than in previous years.  This may have an impact on future income payments.
  3. Consideration to planning for large expenditure over more than one year may be required in the future to ensure that budget and reserves are sustained at level set to be of maximum efficacy to tax payer.

For budget see https://middle-rasen.parish.lincolnshire.gov.uk/downloads/download/21/budget-2122?downloadID=21

 

J. Trotter – RFO – 13th April 2021