Would a standardised income/expenditure/balance sheet and guidance be helpful for community councils to allow all to work to the same document? (see Scheme page 22 and Guidance page 38)
In my opinion it should be left up to the CC, there should however be downloadable templates available. Some CCs, speaking from our experience, have workflows and software set up that we consistently use throughout the year to manage finances and others don't, it is simply a matter of preference as well as how much financial activity a CC has. I know if we left everything until April to prepare we would be ripping our hair out due to the amount of transactions we have in a year whereas other CCs (or even us 5 years ago) are able to prepare small accounts in an afternoon.
There is an example of the proper income/expenditure/balance sheet in the Guidance book but no-one seems to look at it. I must say it is not very attractive or easy to understand though anyone with basic accounting knowledge will know exactly what it is. There is training online with Open University for Treasurers to learn basic accounting. If someone does not present a good enough table of accounts then there application should be withheld until they look at the Guidance book. :))
It is possible that South Ayrshire Council are only interested in the administration spending and receipts. It should be easy to complete a income and expenditure sheet for the administration funding/expenses only. No need to display other income.
There are plenty of examples available in books or online for what should be a fairly standard document
In my opinion it should be left up to the CC, there should however be downloadable templates available. Some CCs, speaking from our experience, have workflows and software set up that we consistently use throughout the year to manage finances and others don't, it is simply a matter of preference as well as how much financial activity a CC has. I know if we left everything until April to prepare we would be ripping our hair out due to the amount of transactions we have in a year whereas other CCs (or even us 5 years ago) are able to prepare small accounts in an afternoon.
Within the new Model "Guidance" document created in 2023 there is most likely a very good example of what the Treasurer should present to SAC.
Agree a standard account would be useful
There is an example of the proper income/expenditure/balance sheet in the Guidance book but no-one seems to look at it. I must say it is not very attractive or easy to understand though anyone with basic accounting knowledge will know exactly what it is. There is training online with Open University for Treasurers to learn basic accounting. If someone does not present a good enough table of accounts then there application should be withheld until they look at the Guidance book. :))
I mean their application for top-up funds...
Any help is welcome!
Possible but one size doesnt fit all , some cc have other income
It is possible that South Ayrshire Council are only interested in the administration spending and receipts. It should be easy to complete a income and expenditure sheet for the administration funding/expenses only. No need to display other income.