Finance Committee Meeting Minutes 06.05.21

Minutes Uploaded on November 23, 2021

Members: Cllr F Tingle (Chair) (P) Cllr O Barneveld (P)
Cllr A Berry (P) Cllr A Carden (P)
Cllr D Crichton (P) Cllr A Kirby
Cllr J Parry (P) Cllr L Price (P)
Cllr M Read
Also present was Karen Seear, Clerk to the Council.
005/22F Apologies: Apologies were received from Cllr A Kirby.
006/22F Declarations of Interest: There were no declarations of interest made.
007/22F Minutes of the previous meeting: The minutes from the Finance Committee Meeting dated 22
April 2021 and the minutes of the special Finance Committee Meeting dated 4 April 2021 were
received it was unanimously RESOLVED that both sets of minutes of the Finance Committee
meeting be accepted as an accurate record and will be duly signed by the Chair.
008/22F Public participation: There was one member of the public present, she had no comments to make
at this meeting. NOTED.
009/22F Correspondence:
a) Zurich Insurance a quote for renewal had previously been circulated. It was unanimously
RESOLVED to accept the schedule and premium and the Clerk was authorised to pay
the insurance premium for 2021/22.
010/22F Finance:
a) Orders for payment It was unanimously RESOLVED that the payments detailed on the
Orders for Payment (list 01) should be APPROVED in the sum of £ 1,439.31
including VAT and that receipts of £17,135.00 are noted. Further payments of
£1,421.38 (including VAT) made since the last orders of payment were RATIFIED.
b) Bank Statements: The April bank statements had been previously circulated. The statements
were reviewed and the balances as at 30 April 2021 were agreed. The statements will be
signed by the Chairman at a later date. NOTED.
c) Accounts: The accounts to 30 April 2021 had been previously circulated. NOTED.
d) Payment to previous clerk: The previous clerk, Tony Daniells continues to carry out work
on behalf of the Council. It was recommended that he be paid his previous hourly rate for
the work he is doing. It was unanimously RESOLVED that Mr. Tony Daniells should
be paid this work and to approve this at the next Full Council meeting.
011/22F Account review:
a) Review of the 2020/21 Statement of Account. The draft Accounts to 30 March 2021 were
presented. These showed an income of £33,084.00 and a spend of £13,701.00. It was
unanimously RESOLVED that this represented an accurate statement of account.
b) Annual Governance and Accountability Return (AGAR): The timetable for completion of
this was noted. Outstanding items will be completed at the next Finance and Personnel
meeting. NOTED.
c) Internal Audit: The clerk will liaise with the internal auditor and agree a suitable time for
her to complete the internal audit. NOTED.
d) Internal Audit: It was unanimously AGREED to release the Statement of Accounts for
2020/21 and supporting papers to the Internal Auditor.
e) 2020/21 Surplus: It had previously been determined to hold different reserve accounts, these
A general reserve
A community asset reserve
An open space reserve
As part of the budget it had been agreed that the surplus would be split between the general
reserve and the community asset reserve. £30,500 would be held in the community asset
reserve and the remainder in the general reserve. An election reserve was also spoken about,
this would cover costs if the council was to require to hold an election. Cllr D Crichton
suggested that the clerk obtain a figure from democratic services for a recommendation of
the required sum. There will be an election in 2 years’ time, and there could be a possible
reserve for any casual vacancies. It was unanimously RESOLVED to allocate the stated
funds to the reserves.
f) Audit report & Risk Assessment: A report had been previously circulated. It was
unanimously RESOLVED to accept the report as circulated.
g) Asset Register: The asset register had previously been circulated. Showing no change in
assets of £6332 over the past Financial year. Cllr A Carden noted that the lease for the
community building is missing. There was a query whether this should be included as an
asset. Cllr A Carden suggested that it be noted on the asset register as an interest in real
property, which does not have any real value attached to it. It was then decided that the asset
register was a true representation of all tangible assets. Cllr D Crichton mentioned that
depreciation of assets should be considered. A column could be added to the asset register
in the future. The content of the asset register was agreed and unanimously
012/22F Financial Regulations: Cllr A Carden wished to note that during the last year the Council made
changes to the financial regulations to bring them in-line with NALC guidelines. With these changes
they are fully inline with what is required. It was unanimously AGREED that the Council’s
financial regulations are accurate and remain current.
The meeting closed at 7.32pm. The next Finance Committee meeting will be held on Thursday 17th
June 2021.