Finance Committee meeting, 24/09/2020 – minutes

The minutes of the Finance Committee of the Council meeting on Tuesday 24th September 2019 at 7.30pm at the Parish Council office, 2 School Road, Wellesbourne

Present: Chairman: Cllr ShepherdCouncillors: Mrs Paige-Stimson, Mrs PriorClerk: Mrs Scriven Members of public: 0

1.Welcome by Chairman

2. Apologies for Absence – Cllrs Mrs Bolton, Kendall, Mann

3.Confirmation of Agenda – agreed

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

5.Declarations of Interest – Cllr Mrs Prior declared a non-pecuniary interest in matters pertaining to WSCC as a Trustee.

6.Confirmation of minutes of the meeting of 16th July 2019 – c/fwd to next meeting

7.Matters arising (not indicated as a separate agenda item)
7.1Bank account – Transfers of Section 106 and Unilateral monies update Clerk – all Sec 106 and U/A funds had been transferred to the Active Saver Account with the Current Account still holding the main funds of the Council. It was suggested by the Clerk that the Tracker Account be used for the Index income in order to keep it separate from the day to day transactions of Council business. Councillors agreed to leave approx. £100,000 in the Current Account and moving the remaining funds into the Tracker Account until needed.
Recommendation to leave approximately £100,000 in the Current Account, transfer the remaining funds into the Tracker Account and use the Tracker Account as the Account to receive Index payments. Prop Cllr AP, 2nd Cllr YP-S carried

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

9.Review of Financial Regulations
9.1Consideration of Financial Regulations – Cllrs considered the NALC suggested amendments to the Financial Regulations
Recommendation to adopt the Financial Regulations as amended (copy of the agreed amendments to be circulated to Councillors)

Action Revise the document with the amendments Prop Cllr AS, 2nd Cllr AP carried

By Cllr AS

10. External Audit – update Clerk/RFO – Year End had now been completed with no exceptions or findings and signed off.

11. WSCC building insurance recovery
Recommendation that the Council seeks payment of £2520.28 from Wellesbourne Sports and
Community Centre in respect of the insurance of the buildings in accordance with the terms of
the lease granted to that charity. Postpone to next meeting whilst awaiting comparison documents
11.2Village Hall insurance recovery – The insurance document was awaited, and the Village Hall Management Committee were awaiting the sublease for consideration.

12.Development Plan
12.1Consideration of a four year Development Plan
It was noted during consideration of the plan and associated budgets, that Wellesbourne & Walton PC precept was much lower than other large Councils in Warwickshire. The projects that do not have funding opportunities would possibly require a raise in precept to achieve. Consideration was given to what impact a raise in precept would have on a band D property.
Risk Register – this would require review and revision once the development plan had been agreed. Each Committee undertaking a project would need to bring forward a project risk register for approval.

13.Councillor/Clerk exchange of information – none

14.Date of next Committee meeting 12th November 2019

There being no further business to discuss, the meeting closed at 9.10 pm
Chairman…Cllr Shepherd…
24th September 2019