MINUTES

A Meeting of the Finance Committee of Brampton Parish Council was held Tue 9 Jan 2007

at 7.30pm in Brampton Memorial Centre, Thrapston Road, Brampton

Present:	M Shellens, Chairman, J Childs, S Jordan, Mrs M Wigley, J Innes-Clarke, Clerk
1	To Receive Apologies
	KW, EC, JK, NM
2	To Receive and Approve Minutes of the meeting, 7 Nov 2006
Proposal:	Approve – 1^st JC, 2^nd SJ		Carried
3	Matters Arising
	None
4	To Approve Nov Payments & Note Receipts
4.1	Nov revenue receipts total: £3,584. Notable receipts: £372 – 50% grant Football Foundation – replacement goal sets		Noted
4.2	Nov capital receipts: £231 – Interest from Bank of Ireland		Noted
4.3	All payments are reported net of VAT Nov revenue payments total £12,714. Notable payments: £742 – replacement goal sets (50% grant received as above 4.1) £630 – 2 x replacement benches PF (insurance claim to come) £222 – replacement bench – Post Office bus shelter £1,634 – election charges Jan 06 £100 – Magpas grant £187 – 2,000 copies Brampton Matters – Summer edition
4.4	Nov capital payments total £4,490 – creation of meeting room, Community Centre
Proposal:	Approve Nov payments – 1^st MW, 2^nd SJ		Carried
5	To Approve Dec Payments and Note Receipts
5.1	Dec revenue receipts total: £5,421, Notable receipts: £1,710 – HDC recycling credits, Apr – Sep
5.2	Dec capital receipts: £206 – Interest from Bank of Ireland
5.3	All payments are reported net of VAT Dec revenue payments total £9,390. Notable payments: £125 – repair to oven door Memorial Centre kitchen £187 – 2,000 copies Brampton Matters – Autumn edition £58 – equipment hire excavate old goal set posts £120 – post mix replacement goal sets
5.4	Nov capital payments £15,578 – 12 month retention Memorial Project
Proposal:	Approve Dec payments – 1^st MW, 2^nd SJ		Carried
6	Income and Expenditure to 31 Dec 06
6.1	Total revenue income: £154,482 – received in 9 months £3k more than expected for 12 months
6.2	Recycling – more received in 9 months than expected for 12
6.3	Brampton Matters budgets to be adjusted
6.4	Total revenue expenditure: £99,315 – 65% of budget against 75% of year in time
6.5	4000 – Wages – includes Dec wages
6.6	4023 – Electricity overspent (Checks to ongoing on Memorial Centre consumption with supplier)
6.7	4024 – Water overspent
6.8	4026 – Licences overspent Note since meeting – Community buildings are exempt from fees for premises licence except where the licence allows for retail of alcohol - £180 invoice paid for sales of alcohol at MC for 12 months from 23 Nov 06 (apportioned accrual required to 2007/2008)
6.9	4030 – Maintenance overspent Note since meeting: 201 – Allotments overspent – replace heavy duty manhole & cut down trees to make hedgerow 301 – Churchyard and Cemetery overspent – overlay tarmac footpaths
6.10	4031 – Consumables underspent
6.11	4061 – Other expenditure includes; staff recruitment fees and advertising
6.12	4033 – Contingency underspent – budget includes; 2 x bus shelters re-programmed to 2007/08 by HDC, 50% grant contributions for environmental improvements (now not successful), 2 x street lights awaiting installation, new play equipment (also ring-fenced for 07/08)
6.13	Total capital income: £3,105 – interest from Bank of Ireland and Investment
6.14	Total capital expenditure: £22,258 – 12 mnth retention Memorial Project & meeting room Community Centre
6.15	Overall report		Noted
7	Bank Balances
7.1	Business Current Account as at 4 Jan 07:	£15,266
7.2	Business Deposit Account as at 4 Jan 07:	£96,204
7.3	Bank of Ireland as at 4 Jan 07:	£39,024
	Total bank balances	£150,494
7.4	Investment as at 4 Jan 07:	£41,072
7.5	Cash held	£35,276
7.6	Accumulated Income	£ 185
	Investment total	£76,533
	Overall total	£227,027	Noted
7.7	Separate revenue balance from capital balances in report for next Finance		JIC
8	Signatories
8.1	Update sent to A & L 12 Dec 06 is still not actioned by them – will take another week
8.2	Passports required from all Investment signatories – Clerk will request those members direct
9	Investment
9.1	Current valuation: as 7.4 above
9.2	Leave £41k invested		Agreed
10	Current Banking Options
10.1	Bank of Ireland details with MS
10.2	Deputy Clerk in process of contacting all other ‘High St’ options, summary report to next Finance
10.3	Further alternative is internet banking – security issues with this option – further research to be included in report to next meeting
11	Internal Control Procedures and Financial Regulations
	Deferred to next meeting		Defer
12	Grant Requests
	Cambs Police Shrievalty Trust – Local Bobby Scheme – seeking financial assistance
	MW outlined benefits; provides practical help for older people who have been victims of crime or are worried about their security
Proposal:	Grant £400 – 1^st MW, 2^nd JC		Carried
13	Other items for financial consideration
	None
	____________________
	Chairman, M Shellens