Finance
Finance
In a press release the government last week announced: The deadline for local government financial audits will be extended to 30 September 2020
We are waiting for the government to issue further guidance however with the restrictions on meetings and the requirements for internal audit, access for electors to view the accounts and the requirement for signatures on the Annual Return it is likely this will be delayed.
Spending money
Within your financial regulations permissions should already be in place for the Clerk to undertake emergency expenditure if required,
In addition, there will be a default permission to spend against agreed budgets.
You should have considered any gaps or improvements in your financial processes and tried to incorporate them in the delegated powers that have been given to the clerk during this period.
Online banking and Cheques
We advise that if you are currently undertaking online banking to continue with this
If you are not currently using online banking, we recommend that you look into the possibility of arranging it as restrictions may go on for a long time
If you are unable to arrange online banking, then we would advise to make arrangements for cheques to be signed while adhering to government guidelines on social distancing and self-isolation
WALC would like you to take this opportunity to seriously consider switching to on line banking.
Many Councils have already switched to online banking and are finding paying invoices by bank transfer much easier and quicker than using cheques. Online banking removes the need for cheques to passed between people and also helps those you are paying who are now being charged some hefty fees for the banking of cheques.
Most of the major high street banks have excellent online banking services which would allow the Clerk to raise a payment and two other signatories to authorise the expenditure making it very safe for Councils to use.
WALC and many of our members use Unity Trust Bank that already provide banking services to many Parish Councils with a platform that was developed by working with a local Town Council. If you decided to switch they will guide you through the set up and have a very good telephone help line which is open Monday-Friday 8:30 am - 5 pm
We recommend that you speak to your current bank and find out what options are available.