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Hurstpierpoint & Sayers Common
Parish Council

Dear Councillor,

Committee Members are summoned to attend the MEETING of the Finance & Governance Committee to be held on Thursday 13 October 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 7 October 2022

Committee Membership: Cllr Duncan Ranger (Chair), Cllr Allan Brown, Cllr Rodney Jackson, Cllr Malcolm Llewellyn, Cllr John Lowman, Cllr Martin Machan, Cllr Claire Majsai (plus two vacancies).

  1. Apologies for absence:  To receive and accept apologies for absence.
  • Declarations of interest: To note any declarations of interest. 
  • Minutes of the previous meeting of the Finance & Governance Committee: To receive and adopt the minutes of the 18 August 2022 Finance & Governance Committee meeting.  The meeting of 15 September 2022 was cancelled.

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.        Parish Council Financial Monitoring for Month 5 (August 2022): To note:

5.1         Payments of £26,722.49 (excl. VAT).

5.2         Receipts of £6,279.24 (VAT Not Applicable).

5.3         Bank Reconciliations.

5.4         Balance Sheet.

5.5         Income and Expenditure. 

5.6         The funds held in CCLA shares on 31 August June 2022 of £46,576.95. 

6.        Parish Council Financial Monitoring for Month 6 (September 2022): To note:

6.1         Payments of £47,774.25 (excl. VAT).

6.2         Receipts of £156,596.50 (VAT Not Applicable).  Includes £140,804 Oct 22-Mar 23 Precept.

6.3         Bank Reconciliations.

6.4         Balance Sheet.

6.5         Income and Expenditure. 

6.6         The funds held in CCLA shares on 30 September 2022 of £46,640.85.

6.7         Q2 VAT Return

6.8         Deposits and investments accounts held on 30 September 2022: 

Financial InstitutionAccount TypeMaturity Date
Unity TrustCurrent AccountN/A
Nationwide95 Day Savings Account95 Days notice
Cambridge & Counties BS1 Year Fixed Term Bond22/06/2023
Cambridge & Counties BS1 Year Fixed Term Bond28/11/2022
United Trust Bank1 Year Fixed Term18/12/2022
Hodge Bank1 Year Fixed Term14/02/2023

6.9         Unity Trust Bank:  To consider opening an instant access Unity Trust Bank savings account to hold a portion of the current account balance, to make use of the higher interest rate.  The current account offers no interest but their savings account now offers 0.65% interest.  The Financial Services Compensation Scheme will still only protect £85,000 in one institution. 

7.        Village Centre Financial Monitoring for Month 5 (August 2022): To note:

7.1         Payments of £9,284.11 (VAT Not Applicable).

7.2         Receipts of £13,234.80 (VAT Not Applicable). Includes transfer from Shawbrook Bank.

7.3         Bank Reconciliations.

7.4         Balance Sheet.

7.5         Income and Expenditure.

8.        Village Centre Financial Monitoring for Month 6 (September 2022): To note:

8.1         Payments of £15,287.14 (VAT Not Applicable). Includes transfer to Shawbrook Bank*

8.2         Receipts of £11,732.34 (VAT Not Applicable). Includes transfer from Shawbrook Bank*

8.3         Bank Reconciliations.

8.4         Balance Sheet.

8.5         Income and Expenditure.

8.6         Deposits and investments accounts held on 30 September 2022:

Financial InstitutionAccount TypeMaturity Date
CAF BankCAF Cash Current AccountN/A
CAF BankCAF Gold AccountN/A
Shawbrook BankFixed Term DepositTBC
Shawbrook Bank60 Days Notice60 Days Notice

8.7         To note that the transfer agreed at the 18 August 2022 Committee meeting to move £10,000 from the Shawbrook Bank to the CAF Cash Account, was made on 28 August 2022 from the matured fixed term deposit account.  *This was repeated in error on 16 September and corrected on 29 September 2022.

8.8         Shawbrook Bank has confirmed that the options for the matured funds account are as follows:

  1. Reinvest into a new 12 month Fixed Rate at 1.05%
  2. Transfer the funds to your existing 60 day notice account at 0.70%.

RECOMMENDATION:  That the Shawbrook Bank matured fund balance of £50,000 is transferred to a twelve month fixed term deposit account with a rate of 1.05%.

9.        Parish Action Plan:  To review the items for the Committee on the Parish Action Plan.

10.      Internal Controls:  To review the findings from the September 2022 internal controls exercise.

11.      Review of 2021/22 External Audit Report: To note the comments made on the External Auditor’s (Moore West Sussex) Certificate for the 31 March 2022 accounts and recommend it to Council for adoption.

12.      Half Year Financial Analysis: To review and assess the Parish Council’s financial position at the half year stage and agree any actions or remedies required.

13.      Budget and Precept Setting Timetable: To review the proposed timetable, principles and assumptions to commence the budget setting exercise for 1 April 2023 to 31 March 2024 and recommend it to Council for adoption.

14.      Asset Register and Policy:  To review the asset register and asset register policy and recommend it to Council for adoption.

15.      Photocopier Contract:  To consider a briefing note that sets out the options for the future photocopier/printing contract, due to expire in March 2023.

16.      Virus Protection:  To consider a briefing note setting out the options to enhance virus protection for councillor and employee IT systems.

17.      To note any further information items, correspondence received or requests.

17.1    Internal Audit:  To note the first internal audit of 2022/2023 takes place on 18 October 2022.  The Mulberry & Co report will be presented to the 17 November 2022 Committee.

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.