Minutes of the Finance Committee meeting
       held on Wednesday 17 January 01 in Milton Community Centre at 7.30pm

Present:   RT Summerfield (chair)   JE Coston   HM Smith   RLE Waters
           TJ Siggs   The clerk

       1   Apologies for absence PK Oldham

35/01  2   Minutes of the meeting of 30 October 2000 were confirmed and signed
           as a true record.

           Matters arising
36/01      Impact Software - the Council had decided not to purchase the
           software (min 575/00 refers).

37/01      Bus Shelter - cost £674.20 + VAT works to be done end of January.
(502/00)

38/01  3   Bank Reconciliation and Bank Statements
           The chairman reconciled the bank statements as at 31/12/00.

39/01  4   Review of Debtors
           Debtors at 31/12/00
           - VAT recoverable £2733.44
           - Allotment rent £11.25 - the chairman instructed the clerk to
             write to the allotment tenant.

40/01  5   Review of Insurances
           AGREED to reduce level of Fidelity Guarantee from £280,000 to
                  £240,000.
           Youth building now covered at £15,000 + £5,000 contents - additional
           premium for rest of year £17.89.
           Hawthorn Hedge seat removed from schedule.

 41/01 6   Review of Budget and Year to Date Actuals
           The budget figures and year to date actuals were reviewed.
           Expenditure
(498/00)   Two items were queried at previous meeting:
           - £1120 - recreation grounds - drainage work
             (taken from AWA compensation)
           - £115 - play areas - repairs to Hawthorn Hedge play area (not MCC).

42/01  7   2000/01 Projected Expenditure
           Forecast expenditure to 31 March 01 amounted to approximately
           £80,000.

43/01  8   New Projects
           No new projects were planned.

44/01  9   Free Resource
           Level of forecast expenditure to 31 March 01 left a balance of
           approximately £3800 S137 money'.
           It was suggested that the Community Care Committee should consider
           the future funding of the scheme.

45/01 10   Expenditure Review 2001/02
           Noted that income from interest calculated at £7,500 (£10,000
           budgeted in present year).
           AGREED the following:
           - Recommended that the chairman's allowance be increased from £100
             to £150.
           - A contingency of £1000 to be included.
           - Nothing to be included for capital schemes.
           - The £40,000 balance from sheltered housing money to be set aside
             for land purchase.
           - As there had been no grant request from MCC £20,000 to be included
             as previously.
           - Cost of repairing village sign and map to be included - £1,000.
           - There was discussion about updating computer and software and
             purchasing a digital camera. Noted that there was money in the
             present budget already for a CD Writer and camera. It was AGREED
             to look at computer update in 2002/03.
           - £9,600 to be included for the youth centre. (Noted that the
             2000/01 youth budget would be underspent by approximately £3,000).
             The £9,600 would cover two evenings per week drop-in and two 
             youth clubs per week for 39 weeks.
             IVC would be able to put this into the Patch Plan and tender to
             'run' the youth centre as from September. IVC costs were higher
             than those envisaged by the youth committee in minute 39/00.

           Total expenditure forecast for 2001/02   £79,680
           Total income forecast for 2001/02         £9,880
           Shortfall                                £69,800
           Less youth underspent 2000/01             £3,000
           Total required 2001/02                   £66,800

46/01 11   Precept 2001/02
           AGREED to recommend that Council precept for £67,000.