/ Parish Council / Finance Sub Committee / Minutes 3rd July 2020


Minutes of the Meeting of the CSM PC Finance Sub Committee
held on Friday 3
rd July 2020.

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

Fin 20/29. Welcome. PCllr P Brown Chaired the Sub Cttee. The meeting was held during the Corona Virus lockdown so documents and votes being exchanged by email and records retained by the Clerk.

Fin 20/30. Apologies for absence. None.

Fin 20/31. Declarations of Interests. No interests were declared.

Fin 20/32. Minutes – to approve the Minutes of the meeting held on 6th April 2020.

(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 20/33. Matters arising from the minutes of the 6th April 2020. All the actions identified and agreed had been completed and no matters remain to be reported.

Fin 20/34. Insurance Renewal (expires 19 7 20). The Clerk reported he had sought quotes from 3 companies (one had got pricing from 3 companies) who specialise in the Council insurance market for the same level of cover. The cheapest is the current Insurer Zurich who had submitted quotes for 1, 3- and 5-year cover period with lower charges the longer periods.

It was agreed to recommend that the PC renew with Zurich for a 5-year period.

Fin 20/35. Internal Audit. The Internal Auditors Letter was considered alongside a report from the Clerk responding to each point. The Panel acknowledged the comfort the report provided and recognised that the PC Finances and practices are sound with no material discrepancies or issues.

The Panel agreed with the recommendation that the PC should consider increasing its uncommitted balance from £20k to £25k (item 3). It also discussed the frequency that the RFO reports to the Finance Sub and the PC on finance (item 14) and decided to retain Qtrly reporting but to keep this under review.

It was noted that the papers will now be sent to the External Auditors. Given the increase in the amount spent and received last year it was noted the External Auditors will wish to do a more in depth [and charge more] audit this year.

Fin 19/36. Covid. The Clerk advised that for the initial 3 months there had been a saving on the caretakers salary (furlough is being claimed), the security charges on the rec park are lower and the Youth Club had not met so charges where not payable. A small loss of potential hiring income would not be forthcoming, the decision to pay furlough top up had partially offset the savings accruing and there had been some costs on barriers and signage in the Rec Park.

It was noted that Covid had meant a loss of service but to date financially had not exceeded budgets.

Fin 19/37. Dates of next meeting/s; To be agreed in due course (summer).

Steve Altria, Clerk to Creech St Michael Parish Council. Tel 01823 666295. Email clerk@creechstmichael.net