Committee Members are summoned to attend the MEETING of the Finance & Governance Committee to be held on Thursday 18 March 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 firstname.lastname@example.org before 4pm on Thursday 18 March 2021 to be sent an email or telephone invitation.
Sarah Groom, Clerk to the Council & Responsible Finance Officer Friday 12 March 2021
Committee Membership: Cllr Malcolm Llewellyn (Chair), Cllr Julia Shorrocks (Vice-Chair), Cllr Allan Brown, 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 the Finance & Governance Committee: To receive and adopt the minutes of the 18 February 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 £27,265.90 (excl. VAT) for month 11 (February 2021).
5.2 Note receipts of £1,727.38 (no VAT) for month 11 (February 2021).
6. Financial monitoring: To note the account records for month 11 (February 2021) 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.
6.4 Summary Income and Expenditure.
7. Deposits and investment: As of 28 February 2021, the Parish Council held the following balances.
Financial Institution Account Type Maturity Date Amount
Unity Trust Current account n/a £146,451.67
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
7.1 At 28 February 2021 a further £46,388.38 is held with the CCLA in shares.
7.2 From 1 March 2021, the 95 Days Saving Account with Nationwide has been amalgamated with the 2 Year Fixed Term Bond Account with Nationwide. At the January Committee meeting it was confirmed the balance at Nationwide would be reduced to below £85,000 once the accounts were
combined. Now this has happened, the combined balance is £88,095.09. It is therefore recommended that £4,000 is transferred, to reduce the balance below £85,000 allowing for interest during the year.
8. Action Plan: To review the Action Plan Version 15, adoption by Council on 25 February 2021.
9. Review of the Coronavirus Cancellation Policy: To review the Coronavirus Cancellation policy agreed by the Council on 23 April 2020 (Minute C19/123: Coronavirus Cancellation Policy) and agree to extend it to 30 June 2021.
10. Reserves Policy: To consider a financial Reserves Policy for recommendation to Council on 25 March 2021 for approval and adoption.
11. IT Audit: To consider a briefing note regarding the IT Audit by Joel Baker Computers and agree the creation of an ear marked reserve to fund improvements to the IT infrastructure.
12. Cemetery Chapel Repairs: To consider transferring any unspent funds from the Cemetery Property Maintenance code 201-5400 at year end, to create an ear marked reserve for future Cemetery Repairs.
13. Court Bushes Community Hub Outside Decking: To consider appointing VG Builders to complete the external decking at Court Bushes Community Hub, at a revised cost of £11,358 and to note the successful bid to Mid Sussex District Council for Section 106 funding of (£10,998) towards completing the work.
14. Purchase of a Speed Indicator Devise: To consider a briefing note recommending the purchase of a dedicated Speed Indicator Devise for use solely within the parish.
15. WSALC: To receive a verbal update on WSALC and the subscriptions proposed for 2021/2022.
16. To note any further information items, correspondence received or requests.