Minutes of the meeting of Walford Parish Council Finance Committee on Wednesday 4 November 2020

Held online – Wednesday 4th November 2020 6:30pm

Present:
Councillors: Chinn (Chair), Akers, Cole, Van Lienden
In attendance: D Berry (Clerk)

1. Apologies for absence: – None, Councillor Drummond was not present

2. Declarations of interest and written requests for dispensation: – None

3. Adoption of Minutes of previous meeting: – resolved to adopt the minutes of the meeting held on 21st October 2020 as a true and accurate record and to be signed by the Chair once physical meetings are resumed.

4. Public participation session: – one member of the public was present

5. Financial information:
5.1 Resolved to accept he income & expenditure statement for the period to end October 2020
5.2 Resolved to approve the bank statements and reconciliation for October 2020, councillor Ackers will sign once physical meetings are resumed
5.3 The clerk was tasked with advising the committee of the top 3 fixed term deposit accounts to re-invest funds when the Lloyds deposit account matures on 23rd November 2020
5.4 Resolved to open accounts with Unity Trust bank and transfer the Treasurers & Savings accounts currently with Lloyds bank

6. Payments:
6.1 Resolved to approve the payments as per Appendix 3 however, as the NDP Steering group has been disbanded, the clerk was tasked with demonstrating that the consultants’ invoice is in accordance with the contract. The invoice will be re-presented at the next Finance Committee meeting.
6.2 Resolved to ratify the payments on Appendix 3
6.3 Resolved to approve the clerk & WCSS co-ordinator overtime for October

7. Budget 2020/21:
7.1 Draft budget data is required from committees & working groups by 27th November 2020
7.2 The parish council budget will be finalised by February 2021
7.3 Media such as Facebook & the council website will be utilised to engage with the community over parish priorities for expenditure

8. Items for next meeting agenda:
8.1 Draft budget data
8.2 Review of financial regulations
8.3 New banking arrangements
8.4 Agree bank signatories
8.5 Fixed term deposit account
8.6 Risk management schedule update

9. Next meeting: – Wednesday 2nd December 2020 at 6.30pm – venue and style of meeting to be confirmed

The meeting closed at 19:10

PDF MINUTES

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