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Another clean Audit for Patchway Town Council

Patchway Town Council are delighted to announce that the Town Council’s Internal Auditor, Auditing Solutions LTD, has found no issues with the Town Council financial and democratic processes and has signed off the Internal Audit with no recommendations arising for the financial year ending 31st March 2024.

 

The report, written by Stuart Pollard, states ‘We are pleased to again acknowledge the effectiveness of the existing accounting arrangements with support from an external contractor (DCK Accounting), the quality of retained documentation and overall approach to governance matters’. In the report’s pre-amble, Mr Pollard also states ‘We now note the action taken to address those issues and reflect the current position appropriately in the body of the report and in the appended Action Plan. No further issues have been identified at this final review warranting formal comment or recommendation’.

 

The Internal Audit report, which was noted by Town Councillors on Tuesday 21st May 2024, details each area where the Council is audited and reviewed during the financial year. Close detail is given to the financial transactions of the Town Council but the same detail is also afforded to the democratic running and administration of the Town Council.

 

On the financial aspects of the Town Council, the report states ‘We are pleased to note that, following detailed consideration of its budgetary requirements, the Council formally approved the budget and precept for 2024-25 at the January 2024 full Council meeting setting the precept at £501,638 minuting the approval accordingly. We are also pleased to note that members continue to receive routine budget reports throughout the year based on the accounting software and have examined the final Omega budget outturn report, also examining the detailed transaction reports for the year where any significant variances are apparent. Overall, at the year-end, income equated to 113% of the approved budget, whilst expenditure was also marginally over the approved budget standing at 104%. Given the economic climate for most of the year, we have noted no areas of significant concern warranting further enquiry or more detailed scrutiny.’

 

The report goes on to praise the financial decisions made by the Town Council over the last year, stating ‘We are pleased to note that the Council’s total reserves have increased to a more appropriate level standing at £214,136 at 31st March 2024 (£36,974 at the prior year-end). Of that total, £104,400 is held in earmarked reserves, leaving a General Fund balance of £111,736 which equates to just under 3 months’ revenue spending at the 2023-24 level.’

 

The Mayor of Patchway, Cllr Dayley Lawrence, stated that ‘I am extremely proud of the Town Council’s administration and my fellow Councillors for ensuring another positive audit for the Town Council. Over the last four years, we have seen the Town Council develop and implement a whole raft of procedures to ensure that we are at the forefront of Local Council administration and this was duly confirmed when we were awarded the highest accolade possible, the Quality Gold award of the Local Council Award scheme. I am pleased to be part of a financially stable, sound and a Council that is as open and as transparent as Patchway is’.


The report can be viewed here: https://www.patchwaytowncouncil.gov.uk/finance

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