Committee Members are summoned to attend the MEETING of the Finance & Governance Committee to be held on Thursday 17 March 2022 at 7.30pm in the Hurstpierpoint Village Centre Conference Room. Members of the public have a right to and are invited to attend the meeting.
Sarah Groom, Clerk to the Council & Responsible Finance Officer Friday 11 March 2022
Committee Membership: Cllr Malcolm Llewellyn (Chair), Cllr Duncan Ranger (Vice-Chair), Cllr Allan Brown, Cllr Rodney Jackson, Cllr Seth Jee, Cllr John Lowman, Cllr Claire Majsai (plus two vacancies).
- Apologies for absence: To receive and accept apologies for absence.
- Declarations of interest: To note any declarations of interest.
3. Minutes of the previous meeting of the Finance & Governance Committee: To receive and adopt the minutes of the 17 February 2022 Finance & Governance Committee meeting.
4. Adjournment for questions from the public: To consider adjourning the meeting in accordance with Standing Orders, to receive questions from members of the public.
5. Payments and receipts for Month 11 (February 2022): To note:
5.1 Payments of £38,032.77 (excl. VAT).
5.2 Receipts of £14,135.46 (VAT Not Applicable).
6. Financial monitoring for Month 11 (February 2022): To note the account records in accordance with the Financial Regulations of the Parish Council, as follows:
6.1 Bank Reconciliations.
6.2 Balance Sheet.
6.3 Detailed Income and Expenditure by Budget Heading.
7. Deposits and investments for Month 11 (February 2022): To note:
7.1 The Parish Council held the following balances on 28 February 2022:
|Financial Institution||Account Type||Maturity Date||Amount|
|Unity Trust||Current Account||N/A||£179,765.98|
|Nationwide||95 Day Savings Account||95 days’ notice||£84,336.72|
|Cambridge & Counties BS||3 Year Fixed Term Bond||21/06/2022||£48,000.00|
|Cambridge & Counties BS||1 Year Fixed Term Bond||28/11/2022||£50,000.00|
|United Trust Bank||1 Year Fixed Term||18/12/2022||£100,000.00|
|Hodge Bank||1 Year Fixed Term||14/02/2023||£99,787.50|
7.2 The funds held in CCLA shares on 28 February 2022 of £46,410.38.
7.3 The Hodge Bank one year fixed term bond holding £85,000 (plus interest £212.50), matured on 14 January 2022 and a decision was made at the 9 December 2021 Committee (Minute F21/22.069.5) to reinvest the balance and increase it to £100,000. However, although Hodge bank was instructed to also reinvest the £212.50 interest received, they actually transferred it into the Unity Trust Bank current account. Hence the balance for Hodge Bank shows as £99,878.50. The £212.50 has now been returned to the Hodge Bank Account returning the balance to £100,000. This will be shown in the Bank Statement next month.
8. Parish Action Plan: To review the Parish Action Plan Version 20 as agreed at Council on 24 February 2022.
9. Reserves Policy: To consider the financial Reserves Policy for recommendation to Council on 24 March 2022 for approval and adoption.
10. Ear Marked Reserve: To review the earmarked reserves and agree to recommend any adjustments to Council for approval and adoption.
11. Asset Register: To re-consider the final draft asset register for recommendation to Council for approval and adoption.
12. National Pay Award: To note the National Joint Council for Local Government Services (NJC) new rates of pay applicable from (and backdated to) 1 April 2021 and the effect on the 2020/21 and 2022/23 budgets.
13. Land at Brown Twins Road: To receive a verbal update on quotes for Surveying the land at Brown Twins Road/Trinity Court owned by West Sussex County Council.
14. To note any further information items, correspondence received or requests.
Protocol for filming and recording at public meetings: The Council has a protocol for public filming, recording and photography at its meetings, which is available on the Council’s website or on request at the Parish Office.