Minutes of the Parish Council Meeting on 12th January 2021

APPENDIX 2: Bank Reconciliation Month ending Dec 2020

Balance per bank statements
Current Account Unity	23,363.30
Reserve Account Unity	10,000.00
Nationwide Savings Acc	75,000.00
SUBTOTAL bank statements		108,363.30
Less unpresented credit card		-192.39
Less unpresented payments		0.00
Unbanked cash		0.00
NET BALANCES		108,170.91
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		40,820.11
Less: Payments in the year		-31464.60
CLOSING BALANCE per Cash Book		108,170.91

Internal Audit Process

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 recorded matches the year end closing balance. (see: 2019-2020 year end bank rec doc.pdf)
2. The Bank balances recorded match the bank statements.
3. The unpresented Credit Card Balance matches the credit card statement
4. The upresented payments are zero, or have been checked against a list of unpresented payments
5. The unbanked cash is zero, or matches the actual cash held by the Clerk.
6. The Receipts and Payments recorded for the year match the running totals in the cash book.
7. The total net balance equals the sum of the bank balances plus unpresented cash, less unpresented credit card, less unpresented payments.
8. The Closing Balance equals the sum of the opening balance plus receipts in the year, less payments in the year
9. The Net Balance and Closing Balance both match.

When these checks have been completed, the assigned member may sign here to confirm that items 1-9 above have been checked and that these checks along with any exceptions will be reported to the council: