Minutes of the Finance Meeting
held on Monday 18 January 1999 at 7:00pm in the Bowls Pavilion
Present: RT Summerfield (chair) JE Coston RJ Farrington
PK Oldham J Sandford HM Smith RLE Waters
and the clerk
1. Apologies for absence - none
18/99 2. Minutes
Minutes of the meeting of 19 October 1998 were confirmed
and signed as a true record.
3. Matters Arising
19/99 Audit
(497/98) Certificate of audit already received (see min 4/99).
20/99 4. Bank Statements
All bank statements were reconciled by the chairman.
21/99 5. Debtors
There were no debtors.
22/99 6. Review of Insurances
Noted that the war memorial was valued at £10,000. As the
risk was considered negligible it was proposed JS
seconded RLEW and unanimously
RESOLVED to self insure the war memorial using reserves.
Noted that Public Liability cover was 5 million and Fidelity
Guarantee £280,000.
Clerk: to find out meaning of 'Officials Indemnity'.
RESOLVED to insure cemetery gates against theft in addition
to damage; and to insure Queensway bus shelters for replacement
and installation but to self insure brick bus shelters.
Play committee to review insurances for play equipment.
The issue of a fireproof box for important documents was
discussed.
23/99 6. Review of Budget and year to Date Actuals
Noted that 'youth' invoices had not been received and that
Section 137 Community Care would be over budget by approximately
£650 by the end of the year.
24/99 7. 1998/99 Projected Expenditure
Projected expenditure amounted to £77,720.
25/99 8. Expenditure Review 1999/2000
Expected income and expenditure for 1999/2000 was reviewed.
RESOLVED that the £2595 AWA compensation should be spent on
improvements to The Sycamores Recreation Ground (see min 2/99).
Noted that the clerk had worked 991 hours during the year -
approximately 20 hours per week. It was agreed to put an extra
£1000 into the budget for clerk's salary.
New projects included cemetery seat, bins (in 1998/99) and
community transport. JEC proposed that money be set aside for
a new photocopier.
Noted that Free Resource amounted to £11074 (in 1998/99 almost
£8000 would be spent on Section 137).
Estimated expenditure £76550
Estimated income £13950
Difference £62600
26/99 9. Precept 1999/2000
It was proposed RJF seconded JEC and unanimously
RESOLVED to recommend that Council precept for £62000.
The meeting ended at 8.30pm