Minutes of the Finance Committee meeting
       held on Wednesday 8 July 1998 in Milton Community Centre at 7.30pm

Present:   RT Summerfield (chair)  JE Coston  PK Oldham  J Sandford
           HM Smith  RLE Waters and the clerk.

       1.  Apologies for absence  RJ Farrington

367/98 2.  Election of Chairman
           Proposed JEC seconded JS and unanimously agreed that
           RTS be elected chairman.

368/98 3.  Minutes of the meeting of 8 May 1998 were confirmed and
           signed as a true record.

       3.  Matters Arising
369/98     Cornhill Insurance
           The clerk confirmed that the Cornhill requirements and
           controls applied to the clerk only.

370/98 4.  Bank Reconciliation and Bank Statements
           The Accounts were reconciled by the chairman. PKO queried
           whether under the Investment Act 1961 Council could legally
           invest in a C & G Channel Islands account. The clerk to

371/98 5.  Debtors
           There were two debtors:-
             Customs & Excise £745.88 - VAT reclaim 1st quarter
             Weyman £40 - memorial fee cemetery.

372/98 6.  Review of Budget
           The clerk to clarify April figure for C & G interest.

       7.  Any Other Business
373/98     War Memorial
           The clerk would investigate the level of insurance cover
           for the memorial.

374/98     Financial Arrangements with MCC
           RLEW reported that it was hoped to have the lease signed
           by 9 September and that paragraph 4.8 should include the
           words "the insurance to be reviewed annually" (by the lessors
           and lessees).
           It was important therefore to agree as soon as possible the
           financial arrangements on the recreation grounds.

 The meeting ended at 8.20pm.