Minutes of a MEETING of the FINANCE
COMMITTEE held in the Council Office, Annexe to No 1 Bungalow, Bushwood Close,
Welham Green on
PRESENT : Councillors W A Storey Chairman
S J Boulton
C Everard
R Horrocks
K Pieri
Clerk Mrs J A Schettino
1. APOLOGIES FOR ABSENCE
Apologies for absence were received from Councillor P Hastings
2. MINUTES OF THE LAST MEETING
It was agreed that
the Minutes of a Meeting of the Finance Committee held on
3. ACCOUNTS
FOR PAYMENT
A Schedule of Accounts for Payment totalling £18,956.50, inclusive of Imprest Expenditure of £426.06 was presented. After careful consideration of each item, it was agreed that the total amount be recommended to Council for approval and payment in full.
4. STATEMENT
OF BALANCES
A Statement of Balances dated
5. TRANSFER
OF MONIES
Approval was given
to the Clerks action in transferring £20,000 from the Councils reserve account
to current account as from
6.
ANNUAL AUDIT RETURN
The Audit Return
for the year ending
7.
ANY OTHER BUSINESS
a)
Horse Chestnut Tree at War
Memorial
The Clerk said that a local family who erected a horse chestnut tree in memory
of a loved family member in some 23 years ago had noticed that the tree had
disappeared from the war memorial area.
Following investigation by the Head Groundsman and Clerk it was
discovered that the tree had been vandalized and died more than nine years ago
but that the plaque had been retained by the council. The Parish Council was being asked to fund a
replacement tree.
Following a discussion regarding the viability of a small sapling surviving for any length of time it was agreed to refer the matter to full council for consideration.
b) SJS Irrigation
A quotation to install a resin waterproof joint on the mains cable from the armoured cable to the pump had been received from SJS Irrigation. As this was a Health & Safety issue it was agreed to recommend this expenditure to full council for approval.
c) Request for Work Experience by a Young Parishioner
A young man aged 16, known to both groundsmen, had written to the council requesting an opportunity for work experience before attending horticultural college in September. Following a discussion regarding insurance coverage it was proposed by Councillor Everard, seconded by Councillor Pieri and unanimously agreed that the Finance Committee would recommend to council that he should be employed for 30 hours per week on a temporary contract for 6 weeks during the summer.
d) Nat West Bank
The Clerk had received a visit from the Business Development Manager of Nat West Bank following a request by her for a higher earning business reserve account and a discussion regarding the major banks’ proposals, including Nat West, to introduce account charges.
Following a prior conversation
with the Finance Chairman and further discussion by the Finance Committee and
the assurance that the Parish Council would still receive its banking free of
charges, it was agreed to recommend to council that a new mandate should be
signed by the Chairman for a Special Interest Bearing Account which would pay
1.25% below base rate, currently 3.75% interest. This rate would have added £2,310 to the
interest amount of £3,516 received over the 12 month period to financial year
end on
The clerk said that some money would need to remain in the reserve account temporarily pending the opening of the new account and while informing present payees of the changes but that it would be closed in due course and all monies transferred to the new account. The Council’s present current account would remain unchanged.
e)
VAT Inspection
The Clerk said
that the Parish Council had received a satisfactory VAT Inspection on
8. DATE OF NEXT MEETING
The next meeting
of the Finance Committee has already been arranged for
Meeting Closed