Finance committee minutes

Tuesday 25 January 2022, 2pm

Mayor's parlour

Present

The Mayor: Councillor D Russell (Chairman)
Councillors: V Higgs; D Little; J Thomas

Officers: S Saunders (Town Clerk); G Shaw (Treasurer)

28. APOLOGIES FOR ABSENCE

There were no apologies for absence.

29. MINUTES

It was RESOLVED that the Minutes of the Meeting of the Committee held on the 2nd November 2021 be confirmed as a correct record and signed by the Chairman.  In response to a Member question, the Treasurer clarified that perhaps a Councillor with an interest and expertise in Finance might be the right person for being Chairman for more than just one year.

30. DECLARATIONS OF INTEREST

There were no declarations of interest.

31. ANNUAL AUDIT FOR THE YEAR ENDED 31ST MARCH 2021

The Committee received the External Auditor’s Report dated 12th September 2021 which was approved.

Members thanked the Treasurer for his work.

32. REVIEW OF MAYORALTY

Members approved the increase (inflation) for both the Mayor (from £5,000 to £5,270) and Deputy Mayor allowances (from £1,000 to £1,054) for 2022/23.

33. RISK ASSESSMENT REVIEW

The Town Clerk advised Members that the register had been updated and the following points were raised:

  • The lease with Worcestershire County Council had still not arrived.  Members asked for the Town Clerk and Treasurer to ask Councillors P Harrison and C Rogers (County Councillors representing Stourport-on-Severn) to see if they would contact someone at County Council.
  • There was concern over an invoice that had been received for the Three Kings Parade that had been held in November 2021 and the Town Clerk was asked to follow this up and report back.

It was RESOLVED that the report be approved.

34. UPDATE ON TREASURY MANAGEMENT POLICY STATEMENT AND INVESTMENT STRATEGY 2021/22.

The Treasurer informed Members that the Treasury Management Policy Statement and Investment Strategy needed no changes since it had been presented to Finance Committee in September 2020 other than changing the year to 2022/23.

He also reported that:

  • The interest for money invested with Wyre Forest District Council (WFDC) had increased from 0.01% to 0.05%.
  • Investment with WFDC had increased from £180K to £240K.

Members agreed to the amendment and would monitor again in twelve months time.

35. FINANCIAL REGULATIONS

The Treasurer informed Members that the Finance Regulations needed only one change which was to include online payments.

It was RESOLVED that this change be made.

36. PARKS COMMITTEE MEETING – 18 JANUARY 2022

Members approved Minute No. 11 of the Parks Committee meeting dated 18 January 2022.

37. Report of the treasurer on the budget for the year ending 31 March 2023

The Treasurer took Members through the report and discussions included the following points:

  1. The estimated underspend for 2021/22 was £40,600.
  2. The proposal that ‘headline’ charge for Cemetery fees be increased from £800 to £850.
  3. The inside of the Clock Tower to be painted at a cost of £1,080 which was approved.
  4. The draft budget for 2021/22 included, for the paddling pool, an increase from £14,000 to £32,000.  This reflected actual experience of managing the pool safely in 2021.  A discussion was held regarding the opening times/hours for the pool.  One further quote was awaited for the running of the pool and once this had been received, the Town Clerk would confirm how many weeks the pool could open on the budget of £32,000.
  5. Security bollards had been installed on the Areley Kings Recreational Ground at a cost of £1,882 which had been recommended to Council by the Parks Committee following a meeting on 27th July 2021.

The Treasurer was thanked for his informative report.

38. RECOMMENDATIONS TO COUNCIL ON 8TH FEBRUARY 2022

The Committee:

  1. Approved the burial fees detailed in Minute No.37 above.
  2. Approved the Revised Estimates for 2021/22.
  3. Approved the draft budget for 2022/23 and the Vehicle, Equipment and Election Programme.
  4. A precept increase from £41.70 to £43.70 representing an increase of 4.8% was approved.  This represented a total precept of £305,245.

39. ANY OTHER BUSINESS

The Town Clerk informed Members that following a fire inspection at the Civic Hall, it had been highlighted that the roller shutter on the stage needed either repairing or replacing and an external fire door also needed replacement.  The Civic Hall had received one quote for a brick wall to replace the roller shutter.  After a discussion the Town Clerk was asked to obtain three quotations for both works to be carried out.

The Town Clerk had been approached for rental of the office space area at the back of the Civic Hall.  After a discussion, it was agreed that the Town Council would accept the proposed figure of £1,000 per annum for the space.  It was acknowledged that the space had been empty for four years.


Chairman

The Meeting closed at 2.58 pm.