2021-11: Finance Reports

Bank Reconciliation, 31st Oct 2021

Balance per bank statements
Current Account Unity	46,925.31
Reserve Account Unity	0.00
Nationwide Savings Acc	85,000.00
SUBTOTAL bank statements		131,925.31
Less unpresented payments		0.00
Unbanked cash		0.00
NET BALANCES		131,925.31
The net balances reconcile to the Cash Book (receipts and payments account) as follows:
Opening Balance at 1 April 2021		113,306.06
Add: Receipts in the year		48,893.76
Less: Payments in the year		-30274.51
CLOSING BALANCE per Cash Book		131,925.31

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 previous year-end closing balance.
2. The Bank balances match the corresponding bank statement balances.
3. The unpresented payments are either zero or they match the list of unpresented payments.
4. Unbanked cash is zero. (we do not operate a cash float)
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’ amount above equals the ‘Closing Balance per cash book’ amount above.

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: Completed and signed by Cllr Cass: