B - 1
Committee: | Finance and Community Resources |
Date: | 15/06/2021 |
Title of Report: | Explanation for Restated Figures |
Report from: | Tara Bloomfield |
Context: | As above |
Report Author: | Tara Bloomfield |
The AGAR for 2020/21 was approved, published on the Parish Council website, and submitted to the External Auditor.
However, during the 2021/22 financial year it was discovered that the bank reconciliation completed at the end of 2020/21 was not fully reconciled to the accounting system, with payments missing and transactions cashed/uncashed incorrectly.
The result of this was a decrease in the reserves total of £27,701 (£521,565 down to
£493,864),
The effect on the AGAR is as follows:
Original (£) | Restated (£) | Movement (£) | |
1. Balances B/F | 463,167 | 463,167 | |
2. Precept or Rates & Levies | 1,123,605 | 1,123,605 | |
3. Total other receipts | 405,747 | 405,747 | |
4. Staff Costs | 412,970 | 412,970 | |
5. Loan Interest/capital repayments | 0 | 0 | |
6. All other payments | 1,057,984 | 1,085,685 | 27,701 |
7. Balances C/f | 521,565 | 493,864 | -27,701 |
8. Total value of cash investments | 417,437 | 417,437 | |
9. Total fixed assets plus long-term investments and assets | 448,929 | 448,929 | |
10. Total borrowings | 286,000 | 286,000 |