Minutes of the Finance Committee meeting of Milton Parish Council
       held on Monday 19 October 1998 in the Bowls Pavilion at 7.35pm

       Present:    RT Summerfield (chair)   JE Coston   RJ Farrington
                   PK Oldham   J Sandford   HM Smith   RLE Waters
                   and the clerk.  R Day for part.

       1.  Apologies for absence  - none

490/98 2.  Minutes
           Minutes of the meeting of 8 July 1998 were  confirmed and
           signed as a true record.

       3.  Matters Arising
491/98     Bank Accounts
(370/98)   Noted that the funds had been transferred from the C & G
           account to a Fixed Term deposit with Lloyds Bank.

492/98     War Memorial
(373/98)   The clerk had asked Ivett & Reed to value the war memorial
           and also assess its condition.

493/98     Financial Arrangements with MCC
(374/98)   A draft agreement was discussed and amended.  Another draft
           would be circulated for further discussion and approval at
           December meeting.

           JS proposed that

           "This committee recommends that it is appropriate that Council
           deduct the sums as listed below from the MCC grant for 1998/99
           as this expenditure is the responsibility of the MCC committee.

               WT Burden   Manhole cover Coles Road  151.67
               WT Burden   Manhole Cover Coles Road   45.23
               P Whiterod  Repairs Coles Road        196.00
               Mowell & Co Barrier The Sycamores     678.00
               Ridgeons    Padlock - barrier          65.02
               P Whiterod  Flashing - barrier        180.00
               TOTAL                                1315.92"

           This was carried by 5 votes in favour with 2 abstentions.

494/98 4.  Bank Reconciliation and Bank Statements
           The Accounts were reconciled by the chairman. Cambridge
           Building Society account yet to be reconciled.

495/98 5.  Debtors
           There were two debtors:-
           Customs & Excise £1270.32 - VAT reclaim 2nd quarter
           Carpet Bowls Club £14.94 - photocopying.

496/98 6.  Review of Budget
           Noted that:
           -£113 solicitor's costs in "inflows" (drainage easements) to
           be offset against "sale of assets";
           interest accrued from proceeds of money received for "sheltered
           housing" land not allowed for in budget;
           insurance costs higher than budget figure because of increased
           fidelity guarantee;
           cemetery costs were over budget because of extra work done
           to the gate pillars.

497/98 7.  Audit Report
           Report not yet received.

The meeting ended at 9.05pm.