Finance Committee Minutes November 2024
MINUTES OF THE MEETING OF THE FINANCE COMMITTEE OF
GRIMOLDBY AND MANBY PARISH COUNCIL
HELD IN THE PAVILION, GIBSON WAY, MANBY
ON WEDNESDAY 6TH NOVEMBER 2024
Present Councillor T. Knowles (in the chair)
Councillors: Mrs. E. Billings (EB), M. Bruce (MB), C. Fairburn (CF),
Councillors not present:
The Clerk, Mrs. L.M. Phillips was not present in person but joined by telephone.
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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 2025.
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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 2025.
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Apologies for Absence
There were no apologies for absence.
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Declarations of Interest / Dispensations
No declarations of interest were received.
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Minutes
It was RESOLVED to approve as a correct the record the minutes of the Finance Committee meeting held on 3rd November 2023.
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Review of Risk Register
The Committee considered the above and the risks that the Council faces and ways to mitigate these. It was proposed, seconded and RESOLVED to recommend approval of the Risk Register to Council on 20th November 2024.
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Village Maintenance
The Committee considered a reevaluated village maintenance schedule. The Committee noted that the changes resulted in an increase in hours and thus a small increase in the cost to the Council. It was proposed, seconded and RESOLVED to recommend approval to the Council on 20th November 2024.
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Policies for Adoption
The Committee considered a draft Investment Policy and a draft Reserves Policy. It was proposed, seconded and RESOLVED that the two policies should be recommended for approval by the Council on 20th November 2024 with an amendment to the Investment Policy to delete the words ‘with another high street bank’ and amend £80,000 to £85,000 in the first paragraph on page 3.
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Budget 2025/26
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Earmarked Reserve Review
The Committee considered the above report, which detailed the different reserves, explained the purpose of each EMR individually and made suggestions. It was proposed, seconded and RESOLVED to recommend that the Earmarked Reserve Report be approved by Council on 20th November 2024.
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Draft 2025/26 Budget
The Committee considered the above, noting current year spend, projections and the condition of its reserves. It was proposed, seconded and RESOLVED that the budget, as presented by approved and the following be recommended to Council:
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That a precept of £21,634.00 be levied in 2025/26 which equated to a 7% increase on 2024/25 and an annual cost to a band d ratepayer of £32.92. (The Committee noted that these calculations were based on 2024/25 tax base figures and should decrease slightly when current tax base figures were released). See below.
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Draft Budget 2025/26 |
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25/26 Amount to be taken from Reserves |
25/26 Amount to be Precepted For |
25/26 Actual Draft Budget |
Notes |
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£ |
£ |
£ |
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INCOME |
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Precept |
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|
- |
|
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VAT |
- |
- |
1,000.00 |
1/4/24 to 31/3/25 |
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Bank Interest |
- |
- |
1,000.00 |
|
|
Grasscutting cont's from LCC |
- |
- |
2,536.00 |
Based on 24/25 figure 2510.65 + 1% |
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HMRC |
- |
- |
- |
|
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Grants |
- |
- |
1,000.00 |
From TK @ ELDC to go towards new village signs |
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Allotment rent |
- |
- |
250.00 |
£25 pa x 10 |
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Pavilion Rent |
- |
- |
560.00 |
£7 ph x 2 x 40 weeks |
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Football Club rent |
- |
- |
250.00 |
As previously discussed |
|
Cllr. T. Knowles |
- |
- |
- |
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Total |
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6,596.00 |
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EXPENDITURE |
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Day to Day Running |
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Salary |
600.00 |
11,000.00 |
11,600.00 |
Allows for increase in hours or overtime and/or uplift |
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PAYE/NIC |
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2,400.00 |
2,400.00 |
Allows for above and possible inclusion in pension scheme |
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Rent (Mtgs) |
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100.00 |
100.00 |
Allows for 2 public mtgs at £50 each |
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Play Park/Tennis Courts |
|
1,500.00 |
1,500.00 |
Allows for maintenance, inspection, repairs and replacements |
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Tennis Courts |
- |
- |
- |
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Grasscutting/maintenance of right of way footpaths |
- |
- |
- |
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Seats |
- |
- |
- |
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Bus Shelters |
- |
- |
- |
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Subscriptions |
- |
600.00 |
600.00 |
LALC, NALC, SLCC, Allotment Soc., |
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Grants |
- |
600.00 |
600.00 |
Allows for 3 grants of £200 each |
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Publications and Training |
- |
300.00 |
300.00 |
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Insurance |
- |
1,500.00 |
1,500.00 |
Allows for possible increase due to tax and addition of assets |
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Audit |
- |
250.00 |
250.00 |
23/24 £40 internal audit, £210 external |
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Wreaths |
- |
40.00 |
40.00 |
Remembrance wreaths x 2 |
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Speed Sign |
- |
- |
- |
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Shrub/hedge/noticeboard etc Maintenance in G&M |
- |
- |
- |
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Defibrillator |
50.00 |
- |
50.00 |
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Elections |
- |
- |
- |
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Allotments/Football Field/Pavilion |
1,000.00 |
2,500.00 |
3,500.00 |
Grasscutting, power, maintenance etc. |
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Amenity Grasscutting |
300.00 |
1,200.00 |
1,500.00 |
Allows for approx. 12 cuts with a cylinder mower and follow up strimming (weather permitting) |
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General Reserve |
- |
- |
- |
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Platinum Jubilee |
- |
- |
- |
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VAT |
- |
- |
- |
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Village Maintenance |
- |
6,240.00 |
6,240.00 |
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Admin Equipment/IT |
- |
- |
- |
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Total Day to Day Running |
1,950.00 |
28,230.00 |
30,180.00 |
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Expenditure Total |
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80,380.00 |
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Of which to come from General Reserve |
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21,592.66 |
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Of which precepted for |
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28,230.00 |
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Income Total |
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6,596.00 |
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Precept (expenditure minus income) |
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21,634.00 |
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24/25 Cost per band d property (based on 24/25 tax base) |
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30.87 |
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25/26 Cost per band d property (based on 24/25 tax base) |
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32.92 |
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25/26 Change in band d (based on 24/25 tax base) |
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2.05 |
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25/26 Monthly cost per band d property (based on 24/25 tax base) |
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2.74 |
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25/26 weekly cost per band d property (based on 24/25 tax base) |
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0.63 |
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25/26 % increase/decrease (based on 24/25 tax base) |
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7% |
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657 |
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RESERVES |
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EARMARKED RESERVES |
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24/25 Amount to be taken from Reserves |
24/25 Amount to be Precepted For |
24/25 Actual Draft Budget |
Notes |
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EMR War Memorial |
- |
- |
- |
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|
EMR Specialist .gov email addresses/IT |
- |
- |
1,500.00 |
= Balance at end of 2024/25 |
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EMR Speed Sign |
- |
- |
2,500.00 |
= Balance at end 2024/25 |
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EMR Play Park |
650.00 |
- |
5,000.00 |
= Balance at end 2024/25 + 650 for tree report and work |
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EMR Elections |
- |
- |
2,500.00 |
= Balance at end 2024/25 |
|
EMR Audit |
- |
- |
200.00 |
= Balance at end 2024/25 |
|
EMR Allotment/Football Field/Pavilion |
500.00 |
- |
6,500.00 |
= Balance at end 2024/25 + 500 |
|
EMR Defibrillator |
- |
- |
1,500.00 |
= Balance at end 2024/25 |
|
EMR Tennis Courts |
500.00 |
- |
5,500.00 |
= Balance at end 2024/25 + 500 |
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EMR Contingency |
- |
- |
4,000.00 |
= Balance at end 2024/25 |
|
EMR Noticeboards |
492.66 |
- |
3,000.00 |
= Balance at end 2024/25 + 492.66 |
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EMR Filing Cabinets/Office Equipment |
2,500.00 |
- |
3,000.00 |
= New in 2024/25 + 2500 |
|
EMR Village Signs |
15,000.00 |
- |
15,000.00 |
= New in 2024/25 + 15000 |
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Total Earmarked Reserves |
19,642.66 |
- |
50,200.00 |
|
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The meeting closed at 6.20pm.
Signed_______________________ (Chairman) Dated_________________________