WELLESBOURNE & WALTON PARISH COUNCIL
The minutes of the Finance Committee of the Council meeting on Tuesday 16th July 2019 at 7.30pm at the Parish Council office, 2 School Road, Wellesbourne

Present: Chairman Cllr ShepherdCouncillors: Mrs Burnard, Mrs Bolton, Harte, Kendall, Mrs Prior Clerk Mrs Scriven
Members of public: 0

1.Welcome by Chairman

2.Election of a Vice Chairman
Cllr Shepherd prop that Cllr Kendall be elected as Vice Chairman, 2nd Cllr Mrs Prior – no other nominees received – carried

3.Apologies for Absence – Cllrs Jackson, Mann, Mrs Paige-Stimson

4.Confirmation of Agenda – it was noted that number 3 had been duplicated and therefore renumbering required -agreed

5.Identification of any items likely to be resolved to confidential session – none

6.Declarations of Interest
Cllr Mrs Prior declared a non pecuniary interest in matters pertaining to WSCC as a Trustee
Cllr Kendall declared a non pecuniary interest in matters pertaining to WSCC as a Trustee
Cllr Mrs Bolton declared a non pecuniary interest in matters pertaining to the Village Hall as the Council representative.

7.Confirmation of minutes of the meeting of 19th March 2019 – agreed

8.Matters arising (not indicated as separate agenda item) 10.1 Sec 106 paid into the Active Saver – add to item10.4 – agreed
An explanation of the review of the grants policy was given for the benefit of new Councillors.

9.Open session for members of the public to raise any matters of relevance to the Parish – none

10.Review of Financial Regulations
10.1Consideration of Financial Regulations – Cllrs considered the document
10.2
Recommendation to adopt the Financial Regulations Prop Cllr AS, 2nd Cllr DK, carried
10.3Review of Direct Debits/Standing Orders – Cllrs considered all automatic payments
10.4Review of banking arrangements (interest rates and account performance) – following review, it was agreed to move the bulk of the Council finance into the Tracker account and all Section 106 and Unilateral monies into the Active Saver account once the RFO returned from leave. A balance of approximately £25,000 to be retained in the current account for payment of expenditures due, taking into account larger payments as required.
Action: Transfer the funds across as fund movements permit once amounts confirmed by RFO. By: Clerk/Finance Assistant

11. External Audit – the audit had been assessed and was now awaiting finalisation.

12. Management Accounts – The RFO had supplied an account summary as well as monthly accounts

13. Risk Register – annual review – Cllrs considered and updated the Risk Register

14.Insurance – review of policy schedule/TORs
14.1Following representations on behalf of WSCC & the lack of premium attributed to the building this matter was deferred to
Full Council, 6th August.
Recommendation that the Council seeks payment from Wellesbourne Sports and Community Centre in respect of the insurance of the buildings and MUGA in accordance with the terms of the lease granted to that charity

Action: Ascertain the attributable premium. Add correspondence to agenda This was withdrawn and a letter from WSCC Trustees was to be sent for consideration at full council 6th August

By: Office

14.2Village Hall insurance recovery- It was noted that the VHMC had insurance cover on the building and its contents, valued
at £521,725.44.
Action: Contact the VHMC and request the percentage of this figure for fixtures & fittings and advise that the Council would be taking out the policy which would be charged back to the VHMC.
Action: Contact the Council insurance and request the Village Hall/Youth hut be added to the insurance policy of the Council immediately. By: Office

By: Office

15.Development Plan
15.1Consideration of a four year Development Plan (projects and costings) – Councillors considered that the remit of the Finance Committee would be to ensure should financial management within the Development Plan for all activities of the Council including funding of capital projects where funding had not been identified.

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16.Councillor/Clerk exchange of information – the Clerk had identified and purchased speed repeater signs for the Loxley Road that were considerably cheaper than WCC had quoted. The company and signs had been approved by Mr Byrne (WCC)

17.Date of next Committee meeting 24th September 2019

There being no further business to discuss, the meeting closed at 8.45pm.

Chairman Cllr Shepherd

Signed………………………

Date…………………… completed 18 July 2019

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