2021-04 PCM: Finance Reports

Bank Reconciliation

Reconciliation of balances 31 Mar 2021
Balance per bank statements
Current Account Unity	28,306.06
Reserve Account Unity	0.00
Nationwide Savings Acc	85,000.00
SUBTOTAL bank statements		113,306.06
Less unpresented payments		0.00
Unbanked cash		0.00
NET BALANCES		113,306.06
The net balances reconcile to the Cash Book (receipts and payments account) as follows:
Opening Balance at 1 April 2020		98,815.40
Add: Receipts in the year		59,424.28
Less: Payments in the year		-44933.62
CLOSING BALANCE per Cash Book		113,306.06

Internal Audit Checklist

The financial regulations section 2.2 require at least once in each quarter, and at each financial year end, a member other than the Chairman verify bank reconciliations. The member shall sign the reconciliations and the original bank statements. The following checks should be confirmed:

1. The opening balance matches the year end closing balance. (see: 2019-2020 year end bank rec doc.pdf)
2. The Bank balances match the bank statements.
3. The unpresented payments are either zero or they match the list of unpresented payments.
4. The unbanked cash is either zero or it matches the actual cash held by the Clerk.
5. The Receipts and Payments recorded for the year match the running totals in the cash book.
6. The sum of net balances and sum of closing balance add up correctly.
7. The Net Balances equal the Closing Balance per cash book.
8. Additional internal audit check: the list of credit card payments reported to the council matches the credit card statement.
9. Additional internal audit check: each transaction in the cash book has corresponding documentary evidence

When these checks have been completed, the assigned member may sign here to confirm that all items above have been checked and report any exceptions, if any, to the council: