ACTION

1.     Declarations of Interest

There were no declarations of interest

2.     Minutes of Last Meeting

The minutes of the meeting of 1st July 2009 were agreed and signed by the Chairman of the Finance Committee as a true record.

3.     Matters arising

Two memory sticks have been purchased and these were passed to RFO for ongoing back ups

Following the last Finance Committee meeting, the Parish Council had agreed to make a grant of £250 to the Burton Bradstock Youth Club. This cheque has been paid but we need to confirm if the grant for the Canaries has been paid.

Broadmayne Charity – Darren is endeavoring to collate all the information regarding this charity which dates back to the 1960’s, to enable him to report back to the Finance Committee.

RFO

RFO

DB

4.     Risk Assessment

Keith Delves distributed an updated version of the risk assessment document he had created using the existing document plus the items shown on the example supplied by BDO the external auditors. All Councillors and RFO to review before the next meeting. This new document has a section with a date on to show that the assessment has taken place.

All

5.     Salary Review

After reviewing all the information to hand on current pay scales and correspondence from DAPTC, the following were agreed for recommendation to the Parish Council:

The Clerk’s pay should remain on LC2 Spinal Column Point 30 at the increased rate as per DAPTC guidelines. It has been agreed that the Clerk’s hours will be reduced to 10 per week from September 1^st 09.

The RFO to be paid at LC1 Spinal Column Point 22.

To raise Mrs. Steven’s remuneration by 1% in line with the annual pay increase for Council employees recommended by DAPTC

All pay increases to be back-dated to 1^st April, 2009

It was agreed that both the Clerk and RFO would keep timesheets.

The NALC have also issued guide lines on holiday entitlement. This is now 21 days plus bank holidays and since the Clerk has over 5 years service he is also entitled to an additional 4 days. As the Clerk is working 10 hours per week this translates into 5 weeks of 10 hours.

ACTION

SP

6.     Finance/ Budget

The RFO presented figures showing a like for like YOY comparison and variance to budget. Wage costs to date show a YOY reduction of £3K. The RFO reported that the budget is well controlled.

The bank balances as at August 2009 stand at £41k.with £19k in the high interest account. Since then we have refunded S Attrill the £10k that he paid to the Council in error.

A review of the interest rates has been undertaken and it was agreed to recommend to the Parish Council that £20K should be transferred into a higher interest account.

It was agreed to recommend to the Parish Council that the new RFO should be able to sign cheques and that the cheque signatories would continue to be members of the Finance Committee, the Parish Council Chairman and the Clerk, with 3 signatories being required.

RFO

SP

7.    Public Loan for the allotment

It was agreed to recommend to the Parish Council that this be paid off subject to there being no penalties for early repayment. RFO to check.

ACTION

RFO

8.     Insurance

The policy is due to be renewed. We have received the renewal quote from Zurich offering us 2 options for a long term agreement 3 years or 5 years. £2,570.28 + tax for 5 years £2,713.08 + tax for 3 years. RFO recommended that the Fidelity Guarantee be increased to £47K, to cover the expected cash balance to March 2010 which can be achieved with no additional premium. It was agreed to recommend to the Parish Council that we opt for the 5 year deal but RFO to obtain alternative quote and to verify that Zurich is the best offer.

RFO

9.     Correspondence

The results of the external audit have been received. The September deadline was achieved. Their feedback is :

• The June reporting deadline was not met.

• Paye records were not audited by the internal auditor

• Risk assessment needs to be carried out annually and the minutes need to show that this has been performed.

• The Fidelity Guarantee needs to be reviewed annually based on the amount of cash held. It was not adequate at March 09.

Since then the guarantee has been increased and a check set up in the financials to check the suitability of this insurance cover.

• An annual assessment of the internal auditor is required. RFO to action during the year

It was agreed to recommend to the Parish Council that we accept the external auditors report and that we aim to comply with their requirements.

We need to publish that the accounts have been audited and can be reviewed by the public by contacting the RFO.

RFO

SP

All

RFO

10.  Asset Register

Peter Dutton had been investigating the ownership of various plots of land and had established that the following

Allotment – acquired in 1964

Playing fields – acquired 1958

Green Cliff Road – acquired 1935

Village Greens – no evidence found.

This to be reported to the Parish Council

ACTION

SP

11. Any Other Business

None

12.  Date of Next Meeting

6.00 PM 4^th January 2010

13. Democratic Half Hour

No members of the public present