OVHMC
Accounts for the Financial year ending 31[st] July 2021. (FY20/21)
Treasurer : Paul Hallett, 3 Chapel Lane, Oxton NG25 0ST
Auditor : Audrey Parkinson, 18 Lime Tree Gardens, Lowdham NG14 7DJ
Mrs Parkinson has audited the Oxton Village Hall accounts for many years, working with the late Mrs Ethel Cottee and Mr Colin Rieley, both of Oxton. She is Treasurer of Lowdham WI and Secretary of Lowdham Village Hall Committee, as at Oxton, an independent body, Mrs Parkinson is well placed to understand village life, village halls and the services they offer. She spent many years as a qualified Accounts Clerk with Nottingham High School.
Audit Methodology:
It appears that The Auditor has sought data from constituent sources provided by me, and built up her own trial account, then gone onto make comparisons, note and correct errors, and recalculate the account. This has proved most helpful. The results are below.
In her letter, she explains two errors which had caused balancing problems, and remarks upon a duplicate payment which had caused her some consternation.
Despite this she seems pleased with my “valiant effort”, and had charged us less that she charged my predecessor, which I assume derives from her hourly rate. Indeed she completed the audit much sooner than I expected.
Errors reported:
I had made two errors in transcription (see The Auditor’s letter) which had rippled across the account, and had made a payment twice, in error, by On-Line-Payment (OLP), receiving a compensatory payment from the payee. The double payment had been inadequately explained and caused some extra detective work by The Auditor.
Lessons learned:
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A period of a few hours, collecting evidential data (invoices, receipts and statements) and reconciling the account, on a monthly basis should enable a tighter control on receipts and payments. As we are now already two months in from the start of our Financial Year, this work needs to start now in order to produce a pattern of work at the end of 3-monthly (Quarterly) period on 31[st] October 2021. This will invite a more meaningful quarterly report at the Committee’s meeting in November 2021.
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The Financial Year 2021/22 will see, hopefully, a return to normality in regard to the number, frequency and nature of Hirings. Payments to Utilities, Statutory Bodies,
Maintenance Companies and Trades-people will probably not change much in nature in the near future.
– – - OVHMC BALANCE SHEET Accounts ending 31[st] July 2021
– – OVHMC INCOME & EXPENDITURE Accounts ending 31[st] July 2021
PTO
– – OVHMC INCOME & EXPENDITURE Accounts ending 31[st] July 2021
CONTINUED
The final task is to reproduce these figures in a summarised form that would be suitable for public consumption at our AGM on Wed 29 Sep 21.
You will see that The Auditor has regrouped some headings, with “Comfort and Hygiene” coming under Performance & Entertainment, for example.
She has printed from a spreadsheet, hence the concatenation of some “heading” cells.
Paul Hallett
Treasurer 27Sep21