Agenda and draft minutes

To receive, note and where requested, approve the reasons for apologies for absence.

An apology for absence was received from Councillor

Orme

Resolved that the apology be noted.

To declare any disclosable interests relating to the forthcoming items of business (if any).

None were received.

To receive and consider requests for dispensation (if any).

There were no dispensations.

To approve, sign and adopt the minutes of the Finance meeting held on 21^st July 2022

Members considered the minutes of the Finance meeting held on 21^st July 2022

Resolved that the minutes of the Finance meetings held on 21^st July 2022 be approved and signed as a correct and accurate record of the meeting.

Proposed Cllr Palmer seconded Cllr P Williams. Unanimous

It was resolved to approve the payments as presented.

Proposed Cllr P Williams Seconded Cllr Atkins. Unanimous

Following the completion of our review, please find the following documents attached:

-              One document containing our completion letter, a Notice of Conclusion of Audit template and our fee invoice;

-              If relevant to your smaller authority, a pdf explaining additional charges in excess of the standard fee;

-              A pdf of Sections 1 & 2 of the Annual Governance & Accountability Return (AGAR) on which our report is based; and

-              A pdf of Section 3 of the AGAR (our External Auditor Report and Certificate).

Please note if your smaller authority falls in the £1 - £25,000 banding, you will have been charged the minimum fee of £200 (plus any administrative charges if relevant) plus VAT for having a limited assurance review in accordance with the scale of fees for reporting years 2017/18 to 2021/22.  These fees are set by the Smaller Authorities’ Audit Appointments Limited and can be found using this link http://www.localaudits.co.uk/fees.html

Noted

To resole to stay opted into the external audit scheme.

Option to opt out of the SAAA central external auditor appointment arrangements

Dear Clerk/RFO/Chairman, Teignmouth Town Council,

Under the Local Audit (Smaller Authorities) Regulations 2015, SAAA is responsible for appointing external auditors to all applicable opted-in smaller authorities, for setting the terms of appointment for limited assurance reviews and for managing the contracts with the appointed audit firms. Smaller authorities are those whose gross annual income or expenditure is less than £6.5 million.

The next 5-year appointing period runs from 2022-23 until 2026-27 and SAAA has undertaken a procurement exercise to appoint auditors to each County area from 1 April 2022. Now that the submission deadline for the 2021-22 Annual Governance and Accountability Returns has passed, this is to advise you of the option to opt-out of the next round of 5-year audit appointments.

All authorities require an appointed external auditor even if the authority meets the criteria to qualify for exemption, as a Certificate of Exemption is required to be submitted to the external auditor and the auditor must be in place in case of objections from local electors

During the previous 5-year period all smaller authorities were 'opted-in' to the central procurement regime managed by SAAA - no authority decided to 'opt-out' and follow the various complex procedures required under statute to appoint their own external auditor. If you wish to continue as part of the SAAA sector led auditor appointment regime then no action is required, you will remain part of central scheme.

However, all authorities must be given the option to opt-out of the central procurement and appointment scheme and appoint their own external auditor for the next 5-year period, although the process is onerous for smaller authorities.

This is communication is to advise that whilst all smaller authorities are opted into the central procurement of external auditors by default, any authorities who do not wish to be part of the SAAA arrangements must formally notify SAAA that they wish to opt out within 8 weeks of this communication but no later than 28 October 2022; this decision must be communicated to SAAA via e mail to admin@saaa.co.uk.

If notification of your decision to opt out is not received within this 8-week period, then your authority will be regarded as opted-in for the next five-year period beginning on 1 April 2022 and ending on 31 March 2027.

Opting-out

Opting out is a significant decision which requires careful consideration; to assist authorities considering opting out further guidance has been developed to clarify what opting out means in practice. This detailed information can be found at www.saaa.co.uk

An authority that wishes to opt out must formally reach and record that decision in a way that meets the requirements of its own governance framework, by convening a full council meeting or an extraordinary council meeting.

Key implications are:

·     an opted-out authority regardless of size (including exempt authorities) MUST appoint an appropriate external auditor;

·     the appointed auditor must  ...  view the full agenda text for item 22.

It was resolved to remain opted into the recommended SAAA external auditor scheme.

Proposed Cllr Palmer Seconded Cllr P Williams. Unanimous

To Determine the grant application attached.

It was resolved to reject this application as it was for day to day running costs.

However a further application would be considered if the criteria were met.

Proposed Cllr Atkins Seconded Cllr Palmer. Unanimous

To Determine the grant application attached.

It was resolved to approve a grant of £500. Subject to TAAG supplying a progress update as to when these materials would be required.

To Determine the grant application attached.

It was resolved to award a grant of £200

Proposed Cllr C Williams. Seconded Cllr Palmer. Unanimous

To Determine the grant application attached.

It was resolved to engage in further discussion with the CAB around their lack of a physical presence in Teignmouth.

To Determine the grant application attached.

It was resolved not to award a grant as the application was for day to day running costs.

Proposed Cllr Atkins. Seconded Cllr P Williams. Unanimous.

To agree the addition of the 2 new staff members to the mandate

It was resolved to add the posts of the two finance and admin officers to the bank mandate

Verbal update on progress made, and to give officers any indications to be considered for the 2022/23 budget such as acceptable percentage rise.

A verbal update on progress was given by the clerk, it was agreed there would be an extraordinary finance committee meeting held on 25/11/2022 at 15:30 to receive this years and next years budget. Our locum RFO will be in attendance.

Received and noted

To find Non-Finance councillors to check bank reconciliation’s going forward

Item to be placed on a full council agenda to establish a rota.

Date of next meeting 19/01/2023

19/01/2023 15:30 Mayors Parlour