Committee Members are summoned to attend the MEETING of the Finance & Governance Committee to be held on Thursday 15 July 2021 at 7.30pm at the Court Bushes Community Hub. Members of the public have a right to and are invited to attend the meeting.
Please note all COVID guidelines must be adhered to:
1. Wear masks on entry and until seated. Masks must be worn if not seated.
2. Use hand sanitiser.
3. Follow the one-way system, clockwise around the room.
4. Open doors and windows to allow air to circulate.
5. Public to sign in for Track and Trace.
6. Maximum room capacity of the Function Room is 24.
Sarah Groom, Clerk to the Council & Responsible Finance Officer Friday 9 July 2021
Committee Membership: Cllr Malcolm Llewellyn (Chair), Cllr Duncan Ranger (Vice-Chair), Cllr Allan Brown, Cllr Peter Griffiths, Cllr Rodney Jackson, Cllr Seth Jee, Cllr John Lowman, Cllr Claire Majsai, (one vacancy).
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 17 June 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 for Month 3 (June 2021): To note:
5.1 Payments of £31,268.99 (excl. VAT).
5.2 Receipts of £9,612.05 (no VAT).
6. Financial monitoring for Month 3 (June 2021): 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 investment:
7.1 To note that as of 30 June 2021, the Parish Council held the following balances:
Financial Institution Account Type Maturity Date Amount
Unity Trust Current account n/a £200,102.67
Nationwide 95 Day Savings Account 95 days’ notice £88,336.72
Cambridge & Counties BS 3 Year Fixed Term Bond 10/05/2021 £48,000.00
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
7.2 The Committee is asked to note that at 30 June 2021 a further £46,393.79 is held with the CCLA in shares.
8. Investment Strategy: To review the Investment Strategy last adopted by Council in February 2020 and recommend it to Council for adoption.
RECOMMENDATION: That the Committee AGREES to recommend the Investment Strategy to Council for adoption.
9. Works Van Insurance Payment: On 21 May 2021, the unoccupied works van was struck by a third party vehicle whilst parked in South Avenue. No one was injured and minor damage was inflicted on the rear bumper. Following the report of the incident to Liverpool Victoria, the claims team concluded that due to the age and condition of the van, it was considered a total loss. The claim resulted in a payment to the Parish Council of £2,285 for the total-loss. This is not the same as a write-off and means that the vehicle can still be used if it passes a new MOT. The vehicle passed another MOT on 1 July 2021, so can still be used until the replacement van is ready for collection. The new van is expected in September (the delay is due to the world shortage of semi-conductors). It is proposed that the £2,285 insurance pay-out is placed in the Vehicle Ear Marked Reserve in order to help fund the costs of the lease payments for the new van. This recommendation must be approved by Council.
RECOMMENDATION: That the Committee AGREE to recommend that the £2,285 insurance total-loss payment for the works van be placed in the Vehicle Ear Marked Reserve, to help fund the costs of the lease payments for the new van.
10. Hurst Meadows Ear Marked Reserve: To consider transferring £8,299.58 from the Hurst Meadows EMR into the Hurst Meadows Projects code (5720-210) to cover the costs of the first quarter of 2021/22 project work.
RECOMMENDATION: That the Committee AGREES to transfer £8,299.58 from the Hurst Meadows EMR into the Hurst Meadows Projects code (5720-210) to cover the costs of the first quarter of 2021/22 project work.
11. 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