Minutes Finance Committee Meeting November 2023
MINUTES OF THE MEETING OF THE FINANCE COMMITTEE OF
GRIMOLDBY AND MANBY PARISH COUNCIL
HELD IN THE PAVILION, GIBSON WAY, MANBY
ON FRIDAY 3rd NOVEMBER 2023
Present Councillor T. Knowles (in the chair)
Councillors: Mrs. E. Billings (EB), M. Bruce (MB), C. Fairburn (CF),
Councillors not present: Mrs. N. Turney (NT)
The Clerk, Mrs. L.M. Phillips was also present.
- Election of Chairman
It was RESOLVED that Cllr. Mrs. EB should be elected as Chairman of the Finance Committee to hold office until the Annual Meeting of the Council in 2024.
- Election of Vice Chairman
It was RESOLVED that Cllr. MB should be elected as the Vice Chairman of the Finance Committee to hold office until the Annual Meeting of the Council 2024.
- Apologies for Absence
Apologies for absence were received from Cllr. NT.
- Declarations of Interest / Dispensations
No declarations of interest were received.
- Minutes
It was RESOLVED to approve as a correct the record the minutes of the Finance Committee meeting held on 2nd November 2022.
- Budget 2023/24
- Finance Review
The Committee received a report monitoring its finances. - Draft 2024/25 Budget
The Committee considered draft budget proposals for 2024/25 alongside the Finance Review. It noted current year spend, projections and the condition of its reserves. Noting that the general reserve contains the funds needed for all day to day costs and currently held a surplus for expenditure which exceeds that budgeted for and which could be used for unexpected costs or in an emergency. At 30th September the General Reserve stood at £58,818.49. £8,806.86 of which was expected to be spent on day to day expenditure in the six months to 31st March 2024. That would leave £50,011.63 surplus, 50% of which was held to cover the Council’s running costs for 12 months, which is recommended practice, should an eventuality arise whereby the District Council were unable to pay over the precept. That would leave an actual surplus of £25,005.81 to cover the Council in the event of an unexpected event or emergency such as the tennis courts requiring resurfacing or the fence around the tennis courts requiring replacing or the playpark equipment requiring total renewal or extensive roof repairs being required at the Pavilion. The Committee also examined each earmarked reserve to confirm its purpose, need and balance. It also discussed arrangements regarding Village Maintenance. - Risk Review
The Committee considered the risks that the Council faces and ways to mitigate these. - It was RESOLVED to recommend the following to Council:
- That a precept of £20,282.94 be levied in 2024/25 which equates to a 10% decrease on 2023/24 and an annual cost to a band d ratepayer of £31.25. (Council to note that these calculations are based on 2023/24 tax base figures and should decrease further when current tax base figures are released). See below.
- That in the absence of village maintenance work being undertaken by the appointed contractor in 2023/24, and as that contractor had been given the opportunity to communicate on the matter but had not, the Council should look to have some jobs undertaken by another contractor as an emergency measure in order to keep on top of some areas.
- That in 2024/25 Village Maintenance work be reevaluated, as per the schedule circulated, hours being averaged out over the year, invoiced monthly and the works being awarded under new terms.
- That the Risk Review document be noted and approved.
- Finance Review
|
Draft Budget 2024/25 |
|
|
|
|
|
|
24/25 Amount to be taken from Reserves |
24/25 Amount to be Precepted For |
24/25 Actual Draft Budget |
Notes |
|
|
£ |
£ |
£ |
|
|
|
|
|
|
|
|
Opening Balance |
|
|
|
|
|
|
|
|
|
|
|
INCOME |
|
|
|
|
|
Precept |
- |
- |
- |
|
|
VAT |
- |
- |
- |
|
|
Bank Interest |
- |
- |
- |
|
|
Grasscutting cont's from LCC |
- |
- |
1,157.06 |
Based on 23/24 figures |
|
HMRC |
- |
- |
- |
|
|
Grants |
- |
- |
- |
|
|
Allotment rent |
- |
- |
250.00 |
£25 pa x 10 |
|
Pavilion Rent |
- |
- |
600.00 |
£7 ph x 2 x 40 weeks |
|
Football Club rent |
- |
- |
250.00 |
As previously discussed |
|
Cllr. T. Knowles |
- |
- |
- |
|
|
Total |
- |
- |
2,257.06 |
|
|
|
|
|
|
|
|
EXPENDITURE |
|
|
|
|
|
Day to Day Running |
|
|
|
|
|
Salary |
- |
6,750.00 |
6,750.00 |
Allows for increase in hours or overtime and/or uplift |
|
PAYE/NIC |
- |
2,000.00 |
2,000.00 |
Allows for above and possible inclusion in pension scheme |
|
Rent (Mtgs) |
- |
100.00 |
100.00 |
Allows for 2 public mtgs at £50 each |
|
Play Park |
- |
1,500.00 |
1,500.00 |
Allows for maintenance, inspection, repairs and replacements |
|
Tennis Courts |
- |
- |
- |
|
|
Grasscutting/maintenance of right of way footpaths |
- |
- |
- |
|
|
Seats |
- |
- |
- |
|
|
Bus Shelters |
- |
- |
- |
|
|
Subscriptions |
- |
800.00 |
800.00 |
LALC, NALC, SLCC, Allotment Soc., |
|
Grants |
- |
600.00 |
600.00 |
Allows for 3 grants of £200 each |
|
Publications and Training |
- |
300.00 |
300.00 |
|
|
Insurance |
- |
1,300.00 |
1,300.00 |
Allows for possible increase due to tax and addition of assets |
|
Audit |
- |
250.00 |
250.00 |
23/24 £40 internal audit, £210 external |
|
Wreaths |
- |
40.00 |
40.00 |
Remembrance wreaths x 2 |
|
Speed Sign |
- |
- |
- |
|
|
Shrub/hedge/noticeboard etc Maintenance in G&M |
- |
- |
- |
|
|
Defibrillator |
50.00 |
- |
50.00 |
|
|
Elections |
- |
- |
- |
|
|
Allotments/Football Field/Pavilion |
- |
2,500.00 |
2,500.00 |
Grasscutting, power, maintenance etc. |
|
Amenity Grasscutting |
- |
1,200.00 |
1,200.00 |
Allows for approx. 12 cuts with a cylinder mower and follow up strimming (weather permitting) |
|
General Reserve |
- |
- |
- |
|
|
Platinum Jubilee |
- |
- |
- |
|
|
VAT |
- |
- |
- |
|
|
Village Maintenance |
- |
5,200.00 |
5,200.00 |
|
|
Admin Equipment/IT |
1,500.00 |
- |
1,500.00 |
|
|
Total Day to Day Running |
1,550.00 |
22,540.00 |
24,090.00 |
|
|
|
|
|
|
|
|
Expenditure Total |
|
|
28,240.00 |
|
|
Of which to come from General Reserve |
|
|
5,700.00 |
|
|
Of which precepted for |
|
|
22,540.00 |
|
|
Income Total |
|
|
2,257.06 |
|
|
Precept (expenditure minus income) |
|
|
20,282.94 |
|
|
|
|
|
|
|
|
23/24 Cost per band d property (based on 23/24 tax base) |
|
|
34.73 |
|
|
24/25 Cost per band d property (based on 23/24 tax base) |
|
|
31.25 |
|
|
24/25 Change in band d (based on 23/24 tax base) |
|
|
(3.48) |
|
|
24/25 Monthly cost per band d property (based on 23/24 tax base) |
|
|
2.60 |
|
|
24/25 weekly cost per band d property (based on 23/24 tax base) |
|
|
0.60 |
|
|
24/25 % increase/decrease (based on 23/24 tax base) |
|
|
-10% |
|
|
2023/24 Tax Base 649 |
||||
|
RESERVES |
|
|||
|
EARMARKED RESERVES |
|
|
|
|
|
|
24/25 Amount to be taken from Reserves |
24/25 Amount to be Precepted For |
24/25 Actual Draft Budget |
Notes |
|
EMR War Memorial |
- |
- |
- |
|
|
EMR Specialist .gov email addresses/IT |
- |
- |
- |
= Leave at £0 |
|
EMR Speed Sign |
350.00 |
- |
350.00 |
= Balance at end 2023/24 + 350 |
|
EMR Play Park |
- |
- |
- |
= Balance at end 2023/24 |
|
EMR Elections |
- |
- |
- |
= Balance at end 2023/24 |
|
EMR Audit |
- |
- |
- |
= Balance at end 2023/24 |
|
EMR Allotment/Football Field/Pavilion |
500.00 |
- |
500.00 |
= Balance at end 2023/24 + 500 |
|
EMR Defibrillator |
800.00 |
- |
800.00 |
= Balance at end 2023/24 + 800 |
|
EMR Tennis Courts |
1,000.00 |
- |
1,000.00 |
= Balance at end 2023/24 + 1000 |
|
EMR Contingency |
1,000.00 |
- |
1,000.00 |
= Balance at end 2023/24 + 1000 |
|
EMR Noticeboards |
500.00 |
- |
500.00 |
= Balance at end 2023/24 + 500 |
|
EMR Filing Cabinets/Office Equipment |
- |
- |
- |
= Balance at end 2023/24 |
|
Total Earmarked Reserves |
4,150.00 |
- |
4,150.00 |
|
- The meeting closed at 6.35pm.
Signed_______________________ (Chairman) Dated_________________________