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.