DRAFT MINUTES of the Meeting of the FINANCE & GOVERNANCE COMMITTEE held at 7.30pm on Thursday 17 June 2021 at Court Bushes Community Hub.
Malcolm Llewellyn (Chair) Allan Brown Rodney Jackson Cllr Claire Majsai Duncan Ranger
Also present: Sarah Groom, Clerk to the Council & Andy Beams, Locum Finance Officer.
F21/22.001 Apologies for absence: Apologies for absence were received and accepted from Cllr John Lowman and Cllr Seth Jee.
RESOLVED: That the Committee ACCEPTS the apologies for absence from Cllr John Lowman and Cllr Seth Jee.
F21/22.002 Declarations of interest: There were no declarations of interest.
F21/22.003 To elect the Vice-Chair of the Finance & Governance Committee for the following year: The Committee received one nomination for the Vice-Chair of the Committee, proposed by Cllr Brown and seconded by Cllr Majsai, for the following year. With all Members in favour, Cllr Duncan Ranger was duly elected Vice-Chair of the Committee, and it was:
RESOLVED: That the Committee ELECTS Cllr Duncan Ranger as the Vice-Chair of the Committee for the following year.
F21/22.004 Minutes of the meeting of Finance & Governance Committee of 20 May 2021: The minutes were received and accepted and signed by the Chair, and it was:
RESOLVED: That the Committee AGREES the minutes of the meeting of 20 May 2021.
F21/22.005 Adjournment for questions from the public: There being no members of the public present the Committee was not required to adjourn the meeting in accordance with Standing Orders.
F21/22.006 Payments and receipts for Month 2 (May 2021): The committee noted the following:
i) Payments of £34,869.23 (excl. VAT). The payment to Wasabi was for the pre-agreed annual website maintenance fee. The date for refunds of the NNDR paid for the public toilets will be clarified.
ii) Receipts of £12,482.19 (no VAT). The Finance Officer noted the receipt of the Court Bushes revenue grant for the last six months of the previous financial year, and it was:
RESOLVED: That the Committee NOTED the Payments of £34,869.23 (excl. VAT) and Receipts of £12,482.19 (no VAT).
F21/22.007 Financial monitoring for month 2 (May 2021): The Committee considered the account records for month 2 (May 2021) in accordance with the Financial Regulations of the Council, as follows:
i. Members noted the Bank Reconciliations (where there has been activity). The other cashbook balances have not changed. These will be signed by the Vice-Chair.
ii. Members noted the Balance Sheet. It was noted that the precept for the second half of the year would increase the Current Year Fund figure.
iii. Members noted the Detailed Income and Expenditure by Budget Heading. It was noted that the project budgets are expected to be used in year. The expenditure in the Hurst Meadows Trees budget (210 – 5550) was work undertaken by Conservation & Access and had been mis-coded. The correct code is 210 – 5720 and this had already been re-coded. The Court Bushes Utilities code is underspent, as MSDC had taken over the water bills by mistake and these will need to be refunded. The Clerk will check if the grant has been claimed by the YMCA, and it was:
RESOLVED: That the Committee AGREED the following for month 2 (May 2021):
i. Bank Reconciliations
ii. Balance Sheet
iii. Detailed Income and Expenditure by Budget Heading.
F21/22.008 Deposits and investments: The Committee noted the current funds held by the Council at month 2 (May 2021) as follows:
Financial Institution Account Type Maturity Date Amount
Unity Trust Current account n/a £224,591.66
Nationwide 95 Day Savings Account 95 days’ notice £88,336.72
Cambridge & Counties BS 3 Year Fixed Term Bond 10/05/2021 £52,596.00
Cambridge & Counties BS 3 Year Fixed Term Bond 14/11/2021 £36,559.10
United Trust Bank 1 Year Fixed Term 17/12/2021 £85,000.00
Hodge Bank 1 Year Fixed Term 13/01/2022 £85,000.00
Work is in hand to reduce the Cambridge & Counties sum down to £85,000. A new bank account is still being investigated and a target for completion of 30 September 2021 was previously agreed. It was noted that at 31 May 2021 a further ££46,392.82 is held with the CCLA in shares.
RESOLVED: The Committee NOTED the current funds held by the Council at month 2 (May 2021).
F21/22.009 Review of Coronavirus Cancellation Policy: The Committee considered a briefing note and reviewed the Coronavirus Cancellation Policy which currently has an expiry date of 30 June 2021. Due to the uncertainty of the end of lock-down it was agreed that the above policy is still applicable for the time being and a new revision date should be set. The Committee debated which would be the most appropriate date. It was agreed that 30 September 2021 be applied and the Committee will review the Policy again at its September 2021 meeting, and it was:
RESOLVED: That the Committee AGREED to recommend to Council that due to the uncertainty of the end of lock-down, that the above policy is still applicable for the time being and a new revision date of 30 September 2021 be applied.
The Committee was asked to note any information items, correspondence received or requests: The Committee wished to record its thanks to the Locum Finance Officer who had joined the Parish Council as a Locum Clerk and Responsible Finance Officer two years ago. Thanks to Andy Beam’s professionalism and hard work the Parish Council had a new set of up to date policies, employment practices and a clear and accountable framework for the budget.
There being no other business, the Chair closed the meeting at 8.33pm.