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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 17 February 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.

Please note we strongly recommend the Government’s COVID guidelines are followed.

Sarah Groom, Clerk to the Council & Responsible Finance Officer                                  Friday 11 February 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).

  1. 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 20 January 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 10 (January 2022): To note:

5.1         Payments of £37,997.16 (excl. VAT).

5.2         Receipts of £10,181.09 (VAT Not Applicable). 

6.        Financial monitoring for Month 10 (January 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:  

7.1      To note that as of Month 10 (January 2022),the Parish Council held the following balances:

Financial InstitutionAccount TypeMaturity DateAmount
Unity TrustCurrent AccountN/A£208,508.67
Nationwide95 Day Savings Account95 days’ notice£84,336.72
Cambridge & Counties BS3 Year Fixed Term Bond21/06/2022£48,000.00
Cambridge & Counties BS1 Year Fixed Term Bond28/11/2022£50,000.00
United Trust Bank1 Year Fixed Term18/12/2022£100,000.00
Hodge Bank1 Year Fixed Term14/02/2023£99,787.50

7.2      To note the funds held in CCLA shares on 31 January 2022 of £46,403.88. 

7.3      To note the Hodge Bank one year fixed term bond holding £85,000 (plus interest £212.50), matured on 14 January 2022 and the decision made at the 9 December 2021 Committee (Minute F21/22.069.5), to reinvest the balance and increase it to £100,000 in a one year fixed bond, was actioned.  However, although Hodge bank was instructed to also reinvest the £212.50 interest received, they actually paid it into the Unity Trust Bank current account.  Hence the balance for Hodge Bank shows as £99,878.50.  As soon as the Hodge bank statement is received this will be confirmed and corrected.

8.        Savings & Investment Strategy:  To review the Savings & Investment Strategy for recommendation to Council for approval and adoption.

9.        Asset Register:  To re-consider the asset register for recommendation to Council for approval and adoption.

10.      Annual Review of Financial Risk:  To re-consider the dedicated risk assessment for the financial risks of the Parish Council, following amendments suggested at the last Committee meeting.

11.      Mastercard Costs:  To re-consider applying for the Unity Trust Bank offer of a Mastercard with Lloyds Bank based on the costs involved, and the number and value of transactions made by staff in the last six months.

12.      Point of Sale:  To consider getting a payment machine to allow hirers to pay by debit/credit cards and Apple Pay.

13.      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.