Meeting Minutes
2010-06-17 : Finance & Admin
CHAIRMAN WILL ISSUE INSTRUCTIONS REGARDING EMERGENCY EXITS IN THE EVENT OF FIRE
Present: Cllr Isobel Darby (Chairman), Cllr Ken Adams, Cllr Jenny Brooke, Cllr Peter Nowell and Clerk
10f. Apologies – Cllr Pam Bacon, Cllr Giles Heath
11f. Declaration of Interests – None declared
12f. To approve minutes of meeting held on 19th May 2010
Minutes approved as a true record, with one alteration item 5f delete the resident’s details and replace with a resident. The minutes were signed.
13f. Review action points
122f Bank accounts –HSBC High Interest Deposit Bond
The Clerk reported that £50,000 plus interest had been reinvested for a further 6 months.
123f Mazars – update
The Annual Return will be discussed under item 15f.
5f Resident’s letter regarding Council Tax for 2010/11
The Clerk had received a reply to her letter of 3rd June 2010. The resident would like confirmation that once the activities outlined in the Clerk’s letter have been completed the precept would be reduced. It was agreed that the Clerk would respond stating if future expenditure does not include such items the precept would be adjusted accordingly. Action Clerk
14f. To review the Terms of Reference for the Finance Committee
The committee reviewed the Terms of Reference, the document was approved, with the following amendments: to replace councils with council’s and to add and treasury management to the end of point 9. Action Clerk
15f. To consider the final accounts and annual return for 2009/10
The committee examined and considered the final accounts and annual return. The internal auditor had noted that:-
1. The Council needed to review its Standing Orders/Financial Regulations in respect of quotes and competitive tendering limits
2. Budget monitoring was required on a more regular basis
3. The general fund balance was excessive.
Cllr Darby informed the committee that section 11.1 j of the current Financial Regulations already stated the process for obtaining quotations or estimates for work or goods to be supplied. The committee will be monitoring the budget at every committee meeting. Action Cllrs Brooke & Darby
The committee would wait for the external auditor’s advice on this, as the committee felt given the current economic climate that the level of general reserves were appropriate.
RECOMMEND: The final accounts and annual return for 2009/10 be approved by Council. Action Clerk
16f. To consider the internal auditor’s report
Discussed under 15f. An Internal Audit Review Checklist was completed by the committee. Cllr Brooke would contact the internal auditor regarding item 5: Audit planning and reporting. Action Clerk & Cllr Brooke
17f. To confirm external audit arrangements
The notice of appointment of date for the exercise of electors’ rights had been produced and is on all notice boards. Electors will be able to inspect the annual return and supporting documentation between 1st-28th July. The Clerk will ensure that the Annual Return and supporting information will be sent to Messrs Mazars in accordance with the timetable supplied by them. Action Clerk
18f. Correspondence
1. A request for renewal of yearly membership to the Chiltern Society at a cost of £25 had been received. Renewal was approved. A direct debit mandate would be set up to pay this and future membership fees for the Chiltern Society., until further notice. Action Clerk.
2. Request for a grant from Thames Valley & Chiltern Air Ambulance Trust. The Clerk would ask for a copy of their accounts and details on the number of responses to calls in Chalfont St Peter. Action Clerk
19f Review Diesel Book
The diesel book was reviewed by the committee.
20f To agree the cheques for signing in June 2010
Finance reports approved and cheques signed by Cllrs Adams and Brooke. Payment list is attached.
£20,000 would be transferred from the NatWest liquidity account into the NatWest current account to cover the June cheques. It was agreed that a monthly transfer of £24,000 be set up from the liquidity to the current account to take place on the 24th of every month. Action Clerk
Cheques to be signed at the next meeting by Cllr Darby and either Cllr Heath or Cllr Bacon.
21f Budget Monitoring of April and May 2010 accounts
Cllr Brooke presented the results for April and May 2010 these were reviewed by the committee. The Committee thanked Cllr Brooke for her work in producing these reports.
RECOMMEND: a further £50,000 from the NatWest bank account be invested into a HSBC high interest deposit bond for a period of 3 months.
22f Information Items
Trailer Purchase: The Clerk had received 4 quotes for a trailer. It was agreed that the trailer be purchased from GT Towing as it would be available in time for Feast Day on the 26th June. £1916.90 to be transferred from the general reserves to the capital budget to cover this cost. Action Clerk & Cllr Brooke
Council’s Public Liability Insurance: The Clerk reported that the public liability insurance had been renewed. The renewal costs were lower than last year. The insurance did not include Hirer’s insurance. The Clerk will find out what the extra cost will be to have this added. The cost for sheds will also be reviewed in time for the next renewal. Action Clerk
23f. Date of next meeting – Thursday 22nd July 2010
Meeting closed at 10.30pm
