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Financial Planning Working Party

February Update

Purpose Team Status Update

Develop a firm financial management plan that will protect council in the event of any future scrutiny and/or audit investigation of CIL S106 related spend

Ian – Barry, Karen,  Derek

- 11/6/19 Report on management of CIL/S106 monies made to Council FRMC meeting 

- 9/7/19 Working Party met to agree brief and current situation and allocate areas for action 

- 23/7/19 Working party met to discuss action progress and update situation analysis 

- 15/10/19 Report made regarding funding situation to Council Strategic Plan Working Party meeting 

- 13/11/19 Councillors Denis and I Clarke attended VAT training provided by NALC at Aston Hall Sheffield

- 13/12/19 Scheduled woodland conservation work within the Millenium Woods brought forward to Feb 2020 to ensure the current SANGS fund is deployed before the contract deadline 

Feb 19

CIL/S106 deductions from FY19/20 accounts agreed by council

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Summary: Received and forecast funds along with terms for use have been agreed with Newark & Sherwood District Council. All spend prior to FY 19/20 has been validated.

 

Next Steps: Incorporate Village Centre spend made in FY19/20 into analysis, establish clear traceability in budgeting system for correct management of all CIL/S106 funds