Minutes Finance Meeting January 2019

MINUTES OF THE FINANCE COMMITTEE
MEETING HELD ON WEDNESDAY 9TH JANUARY 2019

Attendees:- Chris Lakeland (Chair/CL), Liz Cooper (Clerk/EC), Cllrs Michael Penington (MP) & Mark Lomas (ML)

  1. Apologies for absence

Cllrs Mark Blythe & Charlotte Cameron

 

  1. Election of Chairman of the finance committee

Chris Lakeland was elected chair for the meeting.

The Chair thanked Cllr Lomas for once again acting as substitute member as provided for in Standing Orders 15(iv).

 

  1. Declarations of Interest

None declared.

 

  1. To review the estimates of income and expenditure for 2018/2019

The Committee examined the records of receipts and payments to the 31st December 2018 and the Clerk’s estimates to the year end of 2019/2020.

 

4.1 Receipts

Receipts were as expected apart from the cemetery fees and KAP donation which were lower than anticipated.

 

4.2 Payments

Payments were anticipated to be as expected on the Lengthman’s and Clerk’s salaries, in spite of there being two Clerks during the handover period. There is a small surplus for this year which will probably be used for as yet unidentified repairs and replacements.

 

Payments were only slightly more than anticipated for the CIC grants for the Plant Room and Clubhouse, but alleviated by the County Councillor’s grant.

 

Payments overall were less than budgeted for the following reasons:-

  • Additional hours not needed for the Lengthman
  • Tree and general village maintenance is well within budget
  • Nil legal costs

 

  1. To establish estimates of receipts and payments for 2019/2020

The draft budget was carefully examined by those present.

 

5.1 Anticipated receipts

It was noted that the Government support given to the Vale (CTRS) had ceased. Receipts from cemetery fees was kept at the same level, as was the funding for the play areas from BVS, which was £800.

 

5.2 Anticipated Payments

– It was noted that a sum for Trim Trail maintenance needed to be included.

– A small increase in both the Lengthman’s salary (no previous increase for c5 years) and the Clerk’s salary (based on NALC increase) was applied.

– £1000 is included against ‘Legal Costs’.

– Additional money included for replacement grass cutting machinery (but not to the level of a new machine) as other money could be used to cover the cost if necessary.

– Clubhouse money is reduced in line with improved usage and management.

– The annual cost of the church Christmas tree was included at £150.

 

  1. Reviewing of grants:

A small grants figure of £1800 was included.

 

  1. Review of salaries of clerk and lengthman

See 5.2 above.

 

  1. Reserves. To agree the level of reserves needed for the next financial year.

It was proposed that the reserves (including ‘Black Swan’) would remain the same for 2019/2020.

 

  1. Capital projects. To establish reserves available for capital projects and to agree the budget for capital projects.

Village hall refurbishment only. To carry on as before in 2019/2020.

 

  1. Precept for 2019/2020. To agree the precept for the next financial year and make recommendation to the full Parish Council.

It was proposed that the precept be increased by a total of 5% (tax base increase from 724 – 739, in line with inflation and sufficient to cover election costs). This equates to a £2.80 per annum increase on a band D house. The precept would therefore rise from £58,344 to £61,261.

 

  1. To review future banking requirements:-
    • Clerk’s access to online banking (administration only)

It was proposed that the PC move to online banking as soon as possible. CL to initiate action with the banks to enable Clerk’s access to online banking.

  • Future online payments & authorisation

Minimum 2 online authorisers required. A process will be agreed as soon as online access is set up.

11.3. It was also noted that the name and address on the bank statements must be changed to

the new Clerk. Action CL

  1. Review of physical assets and liability

It was proposed that this was undertaken prior to the 2018/2019 audit.

 

  1. Any Other Business. No decisions can be made under AOB.

None.

 

The meeting concluded at 8.50pm.

 

Date of next BPC Finance meeting:- Wednesday 8th January 2020 7.30pm (TBC)