May 2024
NETTLEHAM PARISH COUNCIL FINANCE COMMITTEE MINUTES OF THEMEETINGHELD AT THE OLD SCHOOL, NETTLEHAM ON MONDAY 14 May 2024, AT 5.00PM
Present: Cllr D. Newsam (Chairman), Cllr J. McGuire and Cllr A. White
in attendance: Carl Thomas (RFO)
1. To receive apologies and accept reasons for absence
No apologies
2. To receive disclosure of interests in accordance with the requirements of the Localism Act 2011 and to consider any requests for dispensations.
None received
3. To review year end accounting statements to period ending 31st March 2024
The accounting statements had previously been circulated by the RFO with no matters arising.
4. To review accounting statements and budget for period ending 30th April 2024
The accounting statements had previously been circulated by the RFO with no matters arising.
5. To review Earmarked reserves
Members discussed the earmarked reserves and it was agreed to defer any adjustments untilt he July meeting.
6. To review health & safety contract
The Clerk had circulated a report to members. Following a discussion bearing in mind the importance of Health & Safety and the potential benefits the committee would recommend to full council Company B.
7. To review Investment Arrangements
The RFO had provided an updated report on the investment strategy who explained that the limitations placed upon him bythe previous resolution had delayed matters as their had bene issues with identification, requirement to travel to Peterborough and changes in the rules of one bank. The RFO suggested he be given authority to work with a list of approved banks taking into consideration the protection and best value for public money whilst considering the ethical scoring of banks.
The committee would recommend this suggestion to full Council.
8. To review banking arrangements and mandate
The RFO confirmed that the Unity Bank had now processed all paperwork and the account would be available for use by 24th May.
9. To review insurance renewal
The RFO had requested quotes from five alternative insurers. Renewal quotes had been received from only two. This matter would be discussed by full council with no recommendation at this time.
10. To review utility renewal
The RFO circulated an analysis of quotes from four utility suppliers. It was agreed to recommend switching to Company D to full council based on a 12 month contract,
11. To review CIL report
The CIL report was reviewed with no matters arising.
12. To appoint committee member to review quarterly internal control
Cllr J. McGuire would liaise with the RFO to undertake the review.
13. To agree dates for future meetings
.The next meeting would be Tuesday 15th July 2024 unless there was a requirement to hold one earlier