Agenda and draft minutes

To receive any apologies for absence from Councillors.

Apologies for absence had been received from Ms Vicky de Wit.

Councillors are requested to declare any interests on items included in this agenda. Please refer to the workflow on the preceding page for guidance.

Declarations received will be reported at the meeting.

Councillor Williams made a declaration of interest in relation to his role as a member of the Arts Council. 

In relation to the items of business appearing below, the Committee is asked to consider the following resolution: -

‘That under Section 100(A)(4) of the Local Government Act 1972, the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in Paragraph 3 in Part I of Schedule 12A of the Act and that the public interest in withholding the information outweighs such interest in disclosing the information.’

RESOLVED that under Section 100 (A)(4) of the Local Government Act 1972, the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in Paragraph 3 in Part I of Schedule 12A of the Act and that the public interest in withholding the information outweighs such interest in disclosing the information.

It is a statutory requirement to agree the annual financial statements for the Russell-Cotes Art Gallery and Museum and submit to the Charity Commission by 31 January each year. The Committee are asked to review and agree the accounts prior to them being signed off by the Leader and Portfolio Holder for Finance and Transformation.

Exempt Report as defined in Paragraph 3 in Part I of Schedule 12A of the Local Government Act 1972.

The Finance Manager presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'A' to these Minutes in the Minute Book.

The Committee was advised that it was a statutory requirement to agree the annual financial statements for the Russell-Cotes Art Gallery and Museum and submit to the Charity Commission by 31 January each year. The Committee are asked to review and agree the accounts prior to them being signed off by the Leader and Portfolio Holder for Finance and Transformation.

In response to a question regarding the auditor’s recommendation that the Russell Cotes Art Gallery and Museum should have its own bank account, it was advised that as it did not generate enough cash for expenditure, it was best to continue to include it under the Council’s financial system.  There was regular reporting of the Museum accounts, so there was sufficient challenge opportunities, which have been supplied as a response to Grant Thornton.  Gift Aid donations benefit from 25% on receipt and these transactions are recorded under a Museum specific reference number. 

Gareth Norris, the audit Director from Grant Thornton confirmed that the audit process had gone well and a clean audit finding was anticipated. 

He explained that with regard to the financial reporting, the management response had been accepted and whilst it was not normal practice to not have separate financial systems, it was recognised as the best practice in this case and there are no recognisable issues.

RESOLVED that the Committee agree the accounts for the financial year 2020/21.

Voting: Unanimous