Minutes of the Finance Committee meeting
       held on Wednesday 25th April 2000 in Milton Community Centre at 7.30pm

Present:   RT Summerfield (chair)   RJ Farrington (part - apologies for lateness)
           PK Oldham    HM Smith    RLE Waters    The clerk

197/00 1   Minutes of the meeting of 31 January 2000 were confirmed and
           signed as a true record.

       2   Matters arising
198/00     Bank Reconciliation - Noted that the commuted Fixed Account had been
(42/00)    reconciled.

199/00 3   Bank Reconciliation and Bank Statements
           The chairman reconciled the bank statements as at 31/03/00.

200/00 4   Review of Debtors
           Debtors total £4306.72 at 31/03/00
           - Interest accrued
           - VAT recoverable
           - Cemetery fee (since received).

201/00 5   Review of Budget and Year to Date Actuals
           The budget figures and year to date actuals were reviewed.
           - £2500 higher than budget figure received - made up of interest and
             cemetery fees.
           - Administration £1797 under budget - contingency not used, clerk's
             salary £400 under budget, only £38 of crime budget used
           - Capital costs of £32,075 not included in budget - £29,522.35
             taken from 'sheltered housing' money
           - Long term debts - capital expenditure (£9067) is taken off
             balance sheet, interest (£8553) from Income and Expenditure
             Account although total of both items is considered when setting
             budget figure
           - Millennium - £7245 not yet spent
           - Youth - the clerk would find out if there were any outstanding

           Council had overspent on the budget by approximately £26,000
           because of the capital expenditure on the courts and play area at
           The Sycamores Recreation Ground - the £26,000 coming from reserves.

202/00  6  Draft Accounts 1999/2000
           Income and Expenditure - comparison with the previous year was made.
           - Approximately £9000 less than in 1998/99
           - Council had less money invested and interest rates were lower
           - AWA receipt in a 1998 was a one-off figure
           - Spending was down
           - On the cemetery - gates had been repaired in 1998
           - On highways - bins had been bought in 1998.

           A surplus of £10,000 in 1998/99 had become a deficit of £16,000 in

           The Flexible Savings and Current no '2' accounts had been closed.
           £102,000 commuted sum was invested in a Treasury Account - all
           interest being transferred to the general account
           The £100,000 'sheltered housing' money was also invested in a
           Treasury Account.  This was set aside for
           - Land purchase - £80,000
           - Youth - £20,000

           After setting aside the money for millennium and play/lighting
           expenditure at The Sycamores Council had approximately £25,000
           in general reserve.

The meeting ended at 7.55pm.