Draft minutes of the Finance Committee

Minutes of Finance Committee Meeting

Held at Walford Village Hall

Wednesday 26 June 2019 at 6.30pm  

  

Present:

Councillors: Joanne Akers, Karen Chinn, Simeon Cole, Ruth Dolman, Bob Puzey and Monica van Lienden

 

In attendance: Richard Abolins (Clerk), 2 members of the public

 

  1. Councillor Chinn was proposed and seconded as Chair. Although she wasn’t expecting to continue as Chair, she was happy to carry on given that no one else put themselves forward for the position. It was RESOLVED to appoint Councillor Chinn as Chair.

 

  1. Apologies for absence – none.

 

  1. Declarations of interest and written requests for dispensation – none.

 

  1. Adoption of Minutes of previous meeting

It was RESOLVED to adopt the minutes of the meeting held on 13 February 2019 as a true and accurate record. They were signed by the Chair.

 

  1. Public participation session
    • A resident congratulated Councillor Chinn on her appointment and said she would be a worthy Chair.

 

  1. Financial information
    • The accounts for the period ended May 2109 were received. It was agreed that a better form of savings would be considered in future.
    • The bank statements and reconciliations were approved by Councillor Akers. (Appendix 1)
    • Since a debit card did not have a limit on it, it was felt that there was a potential flaw in financial control. Alternative measures such as opening a separate account with a designated amount of money for such expenses would be considered at the next meeting.

 

  1. Payments
    • Councillor Dolman asked that a clear description of purchases and the reason for the purchase be added onto invoices. This would be useful for audit purposes and save Councillors time when reviewing payments. The RFO agreed to do this and added a comment immediately to one of the invoices. It was RESOLVED to approve the payments on Appendix 2.
    • It was RESOLVED to ratify the payments on Appendix 2.

 

  1. Operational budgets

It was agreed that with the number of new councillors on the Council, the training budget was inadequate. It was RESOLVED to increase the training budget for this financial year from £500 to £1,000pa.

 

  1. Public participation session
    • A resident asked if all the documents referred to in the meeting would be published and it was confirmed that this would happen.

 

  1. Items for next meeting agenda
    • Bank savings account
    • Bank expenses account and debit card
    • Meeting frequency

 

  1. The date of the next meeting – The next meeting will be held at 6.30pm on Wednesday 4 September 2019 at Bishopswood Village Hall.

 

The meeting closed at 7.02pm

 

PDF copy of Draft Minutes

Income and expenditure May 2019

bank reconciliation

approved payments