Finance Minutes 1st July 2024

Finance Committee Meeting 1st July 2024

Present: Phil, Gill, Chris, Jonathan, David

Minutes of last meeting (3rd June) - approved

Action points from the last meeting.

Audit Notice posted on website and in noticeboard;

Public inspection of documents arranged for Caffi Llan 13.30 to 15.30 weekdays; this is no longer possible (building works) but I left the Notice unchanged and would just make ad hoc alternative arrangements as required. RFO has received no requests to date. The Notices can be removed after fourteen calendar days from 16th June, i.e. anytime from now.

Council approved change in ‘three-tier’ system for quotes (£3000 to £2000); Financial regulations and Grant request policy updated accordingly;

Grant request form updated to include reference to our Welsh Language Policy; Council agreed to continue to pay for the Enrolpay service;

Picnic: rapid approval for £250 expenditure; pens and fliers purchased; we now have a stock for future events.

Review of alternative bank accounts/interest rates still in progress.

June and Q1 transactions and bank reconciliations

Review of transactions.

Recommend we pass on the entire second ‘Spar’ grant of £200 directly to Richard

CB noted that the terms of employment of Kerry Wilcox should have been approved in advance by the Employment Committee. Her charge of £540 for seven meetings was very good value;

Incorrect defibrillator installation invoice (VAT charged twice) returned to CCBC; Bank reconciliations checked by CB.

Q1 report - statutory, shows that the vast bulk of the money had remained in our interest-bearing account

Year to date progress against Budget

Difficult to make significant comments at this stage of the year. Only 10% of our budget spent so far. Major shortfalls in Clerks wages; bills for insurance, OVW training, audits, fireworks are for later in the year.

Adjustments to budget

Agreed to recommend two presentational changes:

‘Newsletter’ heading to be changed to ‘Community Engagement’ to include e.g. publicity material as well as the newsletter. Gary Vere has offered to help with the technical aspects of the newsletter production

‘Scout Hut’ heading to be moved from ‘Capital Expenditure’ to ‘Grants’ (previously incorrectly labelled).

Any other business

One-to-one meeting with the ‘Town and Community Council liaison’ people from Conwy Council on 25th June. They are open to talk about the possibility of asset transfers (Cae Erw?); no attempt (yet) to force us to take over spending on e.g. playground maintenance but we already know that we will have to pay for replacement of damaged or unsafe equipment; reference to us incorporating this spending into our budgeting and precept. We can use Melissa Davies as our contact if having problems getting help or replies from CCBC officers: melissa.davies@conwy.gov.uk

End-June 2024/25 Q1 Financial Report

Opening balance

2000.94

32317.27

34318.21

14684.25

Income

10669.59

183.67

10853.26

0.00

Expenditure

-5782.99

0.00

-5782.99

0.00

transfers

-6000.00

6000.00

0.00

Closing balance

887.54

38500.94

39388.48

14684.25

EE Dongle: we have been offered a new 24 month contract of £16 pm plus VAT (was £18.80 plus VAT); I now know that I can reclaim VAT so £16 pm; 50GB capacity and 5G.

Next meeting: Monday 5th August