Minutes – Finance Committee – 15 January 2019
The minutes of this meeting are presented below.
You can also download a PDF copy of the minutes here: Minutes – Finance Committee – 15 January 2019
MINUTES OF THE FINANCE COMMITTEE MEETING HELD ON TUESDAY 15 JANUARY 2019 AT 5.30PM
PRESENT:
- Councillors Budge, Dignum, T French, Galloway, Kilby, Scicluna
EX-OFFICIO:
- The Mayor (Councillor Bell)
APOLOGIES:
- The Deputy Mayor (Councillor Tupper), Councillor M Evans
ALSO PRESENT:
- Councillors Plowman and Sharp
ABSENT:
- Councillor Keyworth
IN ATTENDANCE:
- Town Clerk, Administration Manager, Finance Manager
66. APOLOGIES FOR ABSENCE
As recorded above.
67. MINUTES
The Minutes of the Finance Committee Meeting held on 27 November 2018 having been circulated, were signed by the Chairman as a correct record.
68. ACTIONS ARISING FROM THE PREVIOUS MINUTES
The Committee noted the update on actions arising from the previous Minutes.
69. DECLARATIONS OF INTEREST BY MEMBERS OF THE COMMITTEE ON MATTERS ON THE AGENDA FOR THIS MEETING
Councillors Budge, Dignum, Galloway and Kilby declared an Interest as members of Chichester District Council.
70. REVENUE BUDGET MONITORING REPORT TO 30 NOVEMBER 2018
A copy of the Revenue Budget Monitoring Report to 30 November 2018 had been circulated to all members with the Agenda.
The Finance Manager advised that this report was currently showing a surplus of £21,530 against the budget. The Finance Manger commented on the variances to date and the newly added variances, namely the overspend on the Computer Improvement Budget and the costs involved with emergency roof work to the Council House and an External Condition Survey
The Monitoring Report included a report on Investments and the Committee were advised that the Finance Manager had carried out an exercise to find which investment funds were offering the best return on investments and security and this resulted in the Finance Manager recommending a further investment in the Public Sector Deposit Fund for which the yield in November 2018 at 0.735%. This account also offered easy access to withdraw funds and was considered a secure fund.
It was RESOLVED that an additional £100,000 be invested into the Public Sector Deposit Fund and that the Town Clerk with the Finance Manager, at their discretion, deposit and withdraw funds in the Public Sector Deposit Fund as and when appropriate.
71. CAPITAL MONITORING REPORT 2018/2019
The Finance Manager advised that there had been no Capital Expenditure to date since the last meeting.
72. REVIEW OF EARMARKED RESERVES
A copy of Earmarked Reserves Balances as at 30 November 2018 had been circulated to all members with the Agenda and noted that there was an Earmarked Reserve Balance of £280,362.
73. PUBLIC REALM PROJECTS
A copy of the Public Realm Projects to date had been circulated to all members with the Agenda.
The Finance Manager explained that the Public Realm Budget for 2018/2019 was £43,966 and to date £32,387.16 had been committed to Public Realm Projects. Any underspend in the budget would be carried forward to the 2019/2020 Public Realm Budget.
Councillor Sharp asked the Chairman if the Cycle Rack project had been postponed and was advised that it had not been and that the project for stainless steel cycle racks would be progressed and other new/replacement street furniture such as waste bins and fingerposts would also be in stainless steel.
The Finance Manager had also circulated a schedule detailing CIL Receipts received to date by the City Council. The current total received was £130,738.92 and £61,078.91 had been committed from the CIL Receipts.
The Chairman asked the Finance Manager to prepare a similar report for future meetings on the CIL Receipts that the City Council had received and associated projects.
74. EXISTING CHICHESTER DISTRICT COUNCIL OWNED BUS SHELTERS
Property Sub-Committee Minute 32(b) refers
To consider the following Recommendation from the Property Sub-Committee :
It was RECOMMENDED to the Finance Committee that the City Council no longer pursue discussions with Chichester District Council over future maintenance contracts being transferred to Chichester City Council and that the City Council bus shelters in Market Avenue and Broyle Road be offered for inclusion in any future maintenance contract Chichester District Council enters in to.
It was RESOLVED that the City Council no longer pursue discussions with Chichester District Council over future maintenance contracts being transferred to Chichester City Council and that the City Council bus shelters in Market Avenue and Broyle Road be offered for inclusion in any future maintenance contract Chichester District Council enters in to.
75. CITY BOUNDARY SIGNS
Property Sub-Committee Minute 33(a) refers
To consider the following Recommendation from the Property Sub-Committee :
It was RECOMMENDED to the Finance Committee that an additional £800.90 be allocated from the Public Realm budget to cover the unavoidable increase due to necessary installation amendments.
It was RESOLVED that an additional £800.90 be allocated from the Public Realm budget to cover the unavoidable increase due to necessary installation amendments.
76. ST MARTIN’S GARDEN
Property Sub-Committee Minute 36 refers
To consider the following Recommendation from the Property Sub-Committee :
It was RECOMMENDED to the Finance Committee that an order be placed with Traditional Stone Restoration Ltd in the sum of £2,642 + VAT for the works to repair the brick and flint boundary wall between St Martins Gardens and 21 St Martins Square and be funded from the Earmarked Reserve for Disused Burial Grounds.
It was RESOLVED that an order be placed with Traditional Stone Restoration Ltd in the sum of £2,642 + VAT for the works to repair the brick and flint boundary wall between St Martins Gardens and 21 St Martins Square and be funded from the Earmarked Reserve for Disused Burial Grounds.
77. WORLD WAR 1 SOLDIER MAURICE PATTEN
The Town Clerk’s report had been circulated with the Agenda and outlined the various locations that could be considered for the display of the Vincent Gray’s World War 1 Soldier Maurice Patten that had been gifted to the City Council.
Members discussed the various locations and it was RESOVLED that the sculpture be located in ‘a quiet corner’ in Litten Gardens separated from the War Memorial and the new sculpture in the Garden of Reflection and Reconciliation.
It was RECOMMENDED to Full Council that up to £2,000 be allocated for the installation of the sculpture at Litten Gardens and suitable plinth for the sculpture.
78. CLIMATE CHANGE
Council Minutes 52 and 53 refers
The Chairman invited Councillor Sharp to give a 5-minute presentation on this matter.
The Chairman and members of the Committee agreed that the points raised within Councillor Sharp’s presentation were all valid but asked Councillor Sharp to identify which local authority could take each of the proposals forward.
It was RESOLVED that this item be referred to the next Administration for further discussion by the Finance Committee as a matter of priority and the setting up of a Working Group also be dealt with in the next Administration.
79. MINUTES OF SUB-COMMITTEES AND WORKING GROUPS
(a) Property Sub-Committee
It was RESOLVED that the Minutes of the Property Sub-Committee meeting held on 8 January 2019 having been previously circulated, were approved and adopted
80. FINANCE MANAGER ROUND-UP
The Finance Manager reported on the following :
(i) The audit of the Financial Accounts 2017/2018 had been finalised and signed off. Advisory comments were that the Terms of Reference for the City Council’s Internal Auditor should be more detailed. The Finance Manager would report back at the next Finance Committee meeting on this matter.
(ii) The costs for the By-Election for the East Ward held in August 2018 was £8,504.72.
81. ITEMS FOR INFORMATION ONLY
(a) Monthly Reconciliation with evidence of Bank Statements to the end of September, October and November 2018
RESOLVED to note the monthly reconciliation with evidence of Bank Statements to the end of September, October and November 2018.
(b) List of Cheques paid for September, October and November 2018
RESOLVED to note the cheques paid for September, October and November 2018.
(c) List of Barclaycard Payments for September, October and November 2018
RESOLVED to note the Barclaycard payments for September, October and November 2018
82. ITEMS TO BE INCLUDED ON THE AGENDA FOR THE NEXT MEETING
- Terms of Reference for the Internal Auditor
83. PUBLIC BODIES (ADMISSION TO MEETINGS) ACT 1960
Proposal to resolve that the public and press be excluded from this meeting for Agenda Item 19 only because of the confidential nature of the business to be transacted namely financial matters.
84. MARKET HOUSE – UPDATE
A ‘Commercial in Confidence’ Report had been prepared by the Town Clerk and circulated to members with the Agenda. The Report gave details of Commercial Property Consultants, but members considered it would be premature to approach such consultants at the present time.
It was RESOLVED that Commercial Property Consultants be appointed if and when required.
85. DATE OF NEXT MEETING
Tuesday 16 April 2019 at 5.30pm
The meeting closed at 6.39pm.