/ Parish Council / Finance Sub Committee / Minutes 19th August 2019


Minutes of the Meeting of the CSM PC Finance Sub Committee
held at 7.00pm on Monday 19
th August 2019

Present PCllrs P Brown and S Hutchings. S Altria (Parish Clerk). No public attended.

Fin 19/26. Welcome. PCllr P Brown chaired the meeting.

Fin 19/27. Apologies for absence. PCllr N Davidson.

Fin 19/28. Declarations of Interests. No interests were declared.

Fin 19/29. Minutes – to approve the Minutes of the meeting held on 1st April 2019.

(These had been previously circulated to Cllrs). The minutes of the meeting were agreed without any amendments being made. These were then signed and dated by the Chair as an accurate record of the meeting.

Fin 19/30. Matters arising from the minutes of the 1st April Mtg. All the actions identified and agreed had been completed and no matters remain to be reported.

Fin 19/31. Accounts (2019/2020). The reconciliation and report was examined for the 1st Qtr. The Council’s receipts for the period 1st April 2019 to 30th June 2019 is £34,337.31 and the expenditure for the same period is £20,299.27 (excl provisions) and is in line with expectations. The Chair checked the bank rec back to the four original bank statements and then signed each to confirm £ balances.

Fin 19/32. Cashflow (2019/2020). The Clerk explained he had written to SWTC asking again if they could pay the contractors going to undertake the improvement work in the rec park direct given that they were holding the money and that the PC did not have enough to pay the contractor from its own funds. SWTC had again refused so the panel examined the options and impacts for the PC and drew up a cashflow payment/works programme schedule (copy attached) to be agreed with the contractor. Essentially the PC would need to pay the contractor in instalments and then reclaim back from SWTC so as to be able to pay the contractor the next instalment - some six to seven times. Meanwhile the PC would need to keep expenditure to that budgeted until the end of Dec.

Fin 19/33. Emerging items (2019/2020). The Clerk presented a listing of items (listed in report see item Fin 19/31) that had been identified by PCllrs since the setting of the budget in Jan. Not withstanding cashflow issues (see item Fin 19/32 above) the subcommittee explored affordability and agreed how they each may be funded/progressed should the PC agree to proceed with any.

Fin 19/34. Banking (2019/2020). The Clerk confirmed that the Santander Deposit Acc was now closed with balance having been paid into the HSBC Current Acc so as to be used for paying for the Rec Park Improvement Work. A new online account had been opened with Lloyds as instructed. Whilst cheques and balances are fine not all the signatories are online yet (though the Clerk is). Once all are the HSBC Acc will be closed and the balance moved to Lloyds. The Unity Acc used for PIP remains in place. It remains the aspiration to open a Nationwide deposit A/C in the new year following the completion of the Rec Park projects.

It was noted SALC advice that payments on the PC bank accounts must be authorised by 2 PCllrs not Co-opted Cllrs or other Volunteers. This will include future PIP transactions too.

Fin 19/35. Fin Regs. The Clerk had previously circulated a copy of the new NALC template for Fin Regs. He had highlighted in blue the changes had made from existing Fin Regs. It was agreed to recommend the new Regulations to the PCllrs for adoption at the Sept meeting and it was also noted that there were additional tasks for the Clerk.

Fin 19/36. 18/19 Year End A/c’s Audit. The financial records and final accounts for the year 2017-2019, bank reconciliation and asset listing for the year have been fully audited by both the Internal Auditor and the External Auditor. The External Auditor had given another clear report. The Clerk was thanked for achieving this. The internal auditors observations were considered and the action taken as per Clerks report.

Fin 19/37. Financial Controls. The PC financial controls were considered and it was decided not to recommend any changes or additions/deletions beyond recommending that the sum that can be expended in an emergency be increased from £250 to £500. It was agreed to incorporate the previously agreed PIP Panel controls without amendment as an addendum to the PC controls.

Fin 19/38. Risk Assessment of Assets . The Clerk advised that all PC assets are insured, including the about to be commenced Rec Park works (at additional premium). It was agreed to recommend that the assets be inspected by sharing across all PCllrs similar to previous years. Clerk to organise. Also to accept Ins Addendum quote and to market test the PC Insurance requirements ahead of the 19th July 2020 expiry date.

Action. The 1st Qtr Bank Rec, Fin Regs, Financial controls and Asset listing to go to the PCs at the next meeting.

Fin 19/39. Energy. The Clerk advised that the electricity supply accounts were now with EDF. The last bill from BGas had been referred by the Clerk to the regulator for decision (awaited) whilst BGas had also referred to debt collectors.

Fin 19/40. Dates of next meeting/s; To be agreed in due course (late October).

The meeting closed at 8.45pm.

Steve Altria, Clerk to Creech St Michael Parish Council. Tel 01923 666295. Email clerk@creechstmichael.net