Committee Members are summoned to attend the MEETING of the Finance & Governance Committee to be held on Thursday 18 February 2021 at 7.30pm via Microsoft Teams Video Conferencing.
Members of the public have a right to and are invited to attend the virtual meeting using Microsoft Teams. If you wish to attend, please email the email@example.com before 4pm on Thursday 18 February 2021 to be sent an email or telephone invitation.
Sarah Groom, Clerk to the Council & Responsible Finance Officer Friday 12 February 2021
Committee Membership: Cllr Malcolm Llewellyn (Chair), Cllr Julia Shorrocks (Vice-Chair), Cllr Allan Brown, Cllr Stephen Hand, Cllr Rodney Jackson, Cllr Seth Jee, Cllr John Lowman, Cllr Duncan Ranger.
1. Apologies for absence: To receive and accept apologies for absence.
2. Declarations of interest: To note any declarations of interest.
3. Minutes of the previous meeting of Finance & Governance Committee: To receive and adopt the minutes of the 21 January 2021 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: The committee is asked to:
5.1 Note payments of £114,381.79 (excl. VAT) for month 10 (January 2021). This larger than normal sum includes a transfer of £85,000 to the new fixed term deposit account with the Hodge Bank.
5.2 Note receipts of £4,225 (no VAT) for month 10 (January 2021).
6. Financial monitoring: To note the account records for month 10 (January 2021) in accordance with the Financial Regulations of the Parish Council, as follows:
6.1 Bank Reconciliations. The bank statement is included for Cashbook 1 which is the Unity Trust current account, as this is the only account that has had any activity in the past month.
6.2 Balance Sheet.
6.3 Detailed Income and Expenditure by Budget Heading. Please note a more detailed report is included under agenda item 9.
6.4 Summary Income and Expenditure by Budget Heading.
7. Deposits and investment: As of 31 January 2021, the Parish Council held the following balances. A further £46,386.97 is held with the CCLA in shares.
Financial Institution Account Type Maturity Date Amount
Unity Trust Current account n/a £171,558.19
Nationwide 95 Day Savings Account 95 days’ notice £54,107.44
Nationwide 2 Year Fixed Term Bond 11/02/2021 £33,614.78
Cambridge & Counties BS 3 Year Fixed Term Bond 10/05/2021 £51,716.82
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
In order to agree a third new bank account to transfer £85,000 to, the Committee is asked to agree to delegate the decision on which account to open, to the Finance Officer and Committee Chairman.
8. Financial Regulations: To review the Financial Regulations of February 2020 and recommend their consideration and adoption by Council on 25 February 2021. Thereafter they will be reviewed annual at the May Council meetings.
9. Review of Internal Controls: To consider the effectiveness of the Parish Council’s internal controls in the current Council year as required by the Financial Regulations and recommend their consideration and adoption by Council on 25 February 2021.
10. Risk Management Policy Statement: – To consider and adopt a Risk Management Policy Statement as required by Financial Regulation 17 and recommend its consideration and adoption by Council on 25 February 2021.
11. Action Plan: To review the Action Plan Version 14, updated at Estates & Facilities on 11 February 2021 and recommend its consideration and adoption by Council on 25 February 2021.
12. Reeds Lane Play Area Drainage Consultant Fees: To consider a virement of funds from Court Bushes Project Code 211-5720 to Recreation Grounds Projects Code 202-5720 of £2,500, to fund a specialist drainage consultant to recommend a drainage solution for the new play area at Reeds Lane Recreation Ground.
13. MSALC: To review the minutes of the MSALC meeting on 26 January 2021. To receive a verbal update on the West Sussex Association of Local Councils annual general meeting agenda for 10am on 25 February 2021, and agree the approach to be taken by the two Parish Council representatives on WSALC.
14. Nationwide Bank Closure in High Street, Hurstpierpoint: To consider the letter from Nationwide regarding the proposed closure of the Hurstpierpoint and Hassocks branches and agree a response. To note the letter signed by Andrew Griffith MP, WSCC Cllr Joy Dennis and Cllr Alex Simmons of Hassocks Parish Council.
15. To note any further information items, correspondence received or requests.
The council is asked to RESOLVE that in view of the confidential nature of the following item, the press and public be excluded under section 1(2) of the Public Bodies (Admission to Meetings) Act 1960.
16. Locum Finance Officer: To receive a verbal report requesting an extension to the current Locum Finance Officer arrangements.