Minutes of the Finance Committee meeting held on Monday 31 January 2000 in Milton Community Centre at 7.30pm Present: RT Summerfield (chair) RJ Farrington PK Oldham HM Smith RLE Waters IF May for item 5 PT Mynott The clerk Apologies for absence - JE Coston 41/00 1 Minutes of the meeting of 26 July 1999 were confirmed and signed as a true record. 2 Matters arising - none 42/00 3 Bank Reconciliation and Bank Statements The chairman reconciled the bank statements as at 31/12/99 - Commuted Fixed Account still to be reconciled. 43/00 4 Review of Debtors There were no debtors at 31/12/99. 44/00 5 Review of Insurances including "sick pay" AGREED to recommend that play equipment, metal seats and silver cup be omitted from policy. New photocopier to be included. The clerk would find out whether play equipment and seats were covered against "all risks", including theft. AGREED to recommend that as a caring employer Council should apply the same sick pay conditions to mobile warden and litter picker: Up to six months service nil From six months to five years service one month full pay one month half pay After five years service two months full pay two months half pay. Noted that the clerk had "preserved rights" (Section 5 paragraph 50 of the National Joint Council for Local Authorities' Administrative, Professional, Technical and Clerical Services) as per his contract signed 6 July 1995. 45/00 6 Review of Budget and Year to Date Actuals The budget figures and year to date actuals were reviewed. 46/00 7 1999/2000 Projected Expenditure Estimated spending to 31 March 2000 was revised to £77,750 (original budget estimate £77,110). 47/00 8 New Projects Teenage play area phase 1 £20,000 Drop-in centre: capital £20,000 annual running costs £9,600 (for 2000/01 pro rata £6,000) Cemetery path £5,300 Bus shelter £3,000 New footpath Community Centre £2,000 (estimated) Highway maintenance £200 (addition to grass cutting contract) AGREED to recommend that: 1. Council earmark £80,000 sheltered housing money for purchase of land; 2. £20,000 sheltered housing money be set aside to be spent on youth projects and teenage play area - priority for allocation to be decided by youth committee. Outside sources of funding should also be sought. Noted that this level of spending would exceed the S 137 limit. The clerk would investigate and report back. AGREED to request that MCC meet the costs of the BMX track; also that the footpath from bowls pavilion towards Community Centre be deferred or costs met by MCC. 48/00 9 Free Resource Report circulated showed that the 1999/2000 level of spending would be well within the limit. It was anticipated that approximately £1,500 projected millennium spending would come out of the "free resource". 49/00 10 Expenditure Review 2000/01 Estimated spending for 2000/01 amounted to £84,005 less estimated income £12,820 making a net total spend of £71,185. AGREED that £5,300 cemetery path should be taken from commuted sums and that external funding be sought e.g. Wren. Total estimated spending therefore: £78,705 less income £12,820 = £65,885. 50/00 11 Precept 2000/01 AGREED to recommend that Council set a precept of £65,000 an increase of 4.8% from 1999. (For a Band D house this amounts to £40.50). The meeting ended at 10.30pm.