04. Agenda 13.1 - Recommendations from Finance Committee Meeting held 15 September 2014

04. Agenda 13.1 - Recommendations from Finance Committee Meeting held 15 September 2014
AGENDA ITEM 13.1
REPORT TO ORDINARY COUNCIL FROM THE FINANCE COMMITTEE MEETING
Recommendations to the Ordinary Council from the meeting of the Finance Committee held on
15 September 2014.
1.
Minutes of the Open Section of the Finance Committee Meeting held 11 August 2014
(Item 4.1)
RESOLVED
That it be a recommendation to Council:
That the minutes of the Open Section of the Finance Committee meeting held on
11 August 2014 be taken as read and confirmed as a true and correct record of the
proceedings of that meeting.
(5176f)
2.
Financial Reports (9.1)
Report No 159/14f (DF)
This report includes the following financial information:
•
Balance Sheet
•
Monthly Payments Listing (EFT & Cheque)
•
Debtors Analysis
•
Investments report
This report shows that Council is in a sound budgetary position as at 31 August 2014,
however these reports are interim reports pending end of financial year adjustments and
the final financial result for 2013/2014 will not be available until the audit of the financial
statements is completed.
Discussion ensued.
Several items were raised for clarification including:
a) Councillor Melky – Debtors Analysis: asked for explanation on the doubtful debts
provision figure.
The Director Finance took the question on notice and will provide more information to
Elected Members.
b)
Councillor Melky – Debtors Analysis: noticed the outstanding debts over 120 days
amounting to $174,354. Is there any reason of concern for this money not being
paid? What is the process that Council follows regarding outstanding debts?
The Director Finance advised that Council debtors are reviewed on a regular basis.
Any outstanding debts over 30 days are followed up constantly. The Director will take
a closer look at the outstanding debtors over 120 days and will advise if there is
anything of concern.
c)
Councillor Melky – Payment Summary: OAMPS Insurance – was this put out to
tender?
The Director Finance took the question on notice.
2 - F – RECOMS 15/09/14
d)
Councillor Melky – Payment Summary: TJ Signs signage for $720 – enquired about
the size of the sign and if installation was included in the price.
The Director Finance took the question on notice.
RESOLVED:
That it be a recommendation to Council:
That this report be noted.
(5177f)
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