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).
- 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 Institution||Account Type||Maturity Date||Amount|
|Unity Trust||Current Account||N/A||£208,508.67|
|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 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.