Minutes of the Finance Committee meeting
held on Monday 22 April 2002 in Milton Community Centre at 8.15pm
Present: RT Summerfield (chair) JE Coston TJ Siggs HM Smith RLE Waters
The clerk
1 Apologies for absence RJ Farrington PK Oldham
184/02 2 Minutes of the meeting of 21 January 2002 were confirmed and signed
as a true record.
185/02 3 Matters arising
A summary of the youth centre's accounts was circulated.
186/02 4 Bank Reconciliation and Bank Statements
The chairman reconciled the bank statements as at 31/03/02.
187/02 5 Review of Debtors
Debtors total was £1650.56 at 31/03/02
- Interest accrued - £40
- VAT recoverable - £1509.58
- Cemetery Fee - £75
- MCC grant overpaid - £25.98.
188/02 6 Review of Budget and Year to Date Actuals
The budget figures and year to date actuals were reviewed.
Council had budgeted for a surplus of £220 whereas the actual
surplus was £1822. Figures at variance:
- Administration - contingency £1500 expenditure £230, crime £500
expenditure £16
- Cemetery overspent by £538 because of tree surgery
- Maintenance (commuted) overspent by £2215 because of steps on
bund (£1025), Russian Vine (£632) and tree clearance on bund
(£520)
- Millennium - surplus of £972
- Recreation Grounds - overspent by £1410 - slitting of recreation
grounds and removal of horse chestnut trees Coles Road (paid
by MPC)
- Youth - underspent as Council had budgeted for two nights and two
workers. To date Council had paid for one night and one worker
though were now paying for two workers.
Noted that there was £2719 capital money left in the youth budget
(min 172/02 refers).
189/02 7 Draft Accounts 2001/02
Accounts were received.
Noted that Council spent £1430.20 on capital schemes:
- Bus Shelter - £724.20
- Roller Hockey Court - £500
- Youth Building - handrails and skirt - £206.
190/02 8 New Audit Arrangements
The Audit Commission were introducing a new 'lighter touch' audit.
This would involve "active participation of members" to provide
"positive assurance to the electors that the stewardship of the
public assets with which they have been entrusted has been
properly managed". 5% of Councils would be subject to a 'spot
check' by the external auditor.
The basic audit fee would be £350 rising to £650 if Council spends
over £100,000 in a year.
Council must appoint an internal auditor.
AGREED to appoint Nick Sloman as internal auditor at £12.50 per hour.
Noted that CALC suggested an hourly fee of about £12; Council had
experience of Mr Sloman's work through MCC.
The clerk would attend a CALC seminar on 9 May - cost £15.
191/02 9 Any Other Business
The clerk had written to Customs and Excise for advice on VAT.
Reply not yet received.
The meeting ended at 9.00pm