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Paddock Wood Town Council > Documents > Agendas > Finance Agenda – 22nd November 2021

Finance Agenda – 22nd November 2021

Agendas Uploaded on November 16, 2021
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PADDOCK WOOD TOWN COUNCIL

The Podmore Building, St Andrew’s Road, Paddock Wood, TN12 6HT

Telephone:  01892 837373

www.paddockwood-tc.gov.uk

NOTICE OF A MEETING OF THE FINANCE COMMITTEE TO BE HELD on Monday 22nd November 2021, in the Day Centre Commercial Road at 7.45 pm

 

 

APOLOGIES

 

F20     DECLARATIONS OF INTEREST

 

F21     MINUTES OF THE PREVIOUS MEETING

            To APPROVE the minutes from the previous meeting held on 9th August 2021

 

F22     UPDATE FROM PREVIOUS MINUTES

Accounts with the Nationwide, Hampshire Trust Bank and Cambridge building Society have been set up. However, the Town Council does not qualify for the FSCA Scheme as it budget is more £428,901.

 

F23.    RESERVES

The current balance in the reserve accounts as of 31st October 2021 is as follows:

Unity Trust £615,917.20
Hampshire Trust £75,000
Cambridge BS £75,000
Nationwide 00
   

 

 

F24     CURRENT ACCOUNT

The balance of the current account as of the 31st October 2021 = £198,893.57

 

F25     RPI & CPI

According to the Office of National Statistics the figures for September are as follows: RPI = 4.9%    CPI = 3.1%

 

F26     FEES and TARIFFS

To consider the Council’ fees and tariffs for the year 2022/2023. In 2021/2022 the council increased all its fees by 1%.

.           (Existing fees and tariffs attached)

 

F27     STAFF SALARIES

The clerks are paid according to the SLCC pay scales and the Estates Staff are paid at a locally agreed rate, although salaries are in line with the recommended rates from the GMA (formerly the IOG.) The National Joint Council has not announced any increases for 2021 but the council allowed 2% provision in its budget for all staff. The Personnel Committee has recommended a budgetary provision of 2% for the next budget year. The Committee has also requested £3000 be allocated for HR support going forward.

 

 

 

F28     AUDIT

  1. a) In 2021/2022 the council appointed David Buckett as its internal auditor. It is recommended that the council re-appoints Mr Buckett for the year 2022/2023.
  2. b) PKF Littlejohn have returned the council’s Annual Return with no issues raised. The relevant notices have been posted on the website and noticeboard outside the office.
  3. c) The Audit Fees for 2020/21 were increased as the council’s reserve fund took the fees into the next payment bracket. This is due to the S106 funding currently being held in the account.

 

F29     BUDGET

(a)       Existing Contracts

(See attached sheets)

 

(b)       Every year the Council pays subscriptions to the following organisations:

NALC/KALC

SLCC

Institute of Cemetery Management

Grounds Management Association (formerly IOG)

 

The Council has also agreed to pay the CIMA (Chartered Institute of Management Accountant) Membership for the new RFO.

 

(c)        To note the anticipated figures for the year end.

 

(c)        To consider the draft budget figures and notes for the 2022/2023 budget. Please note these figures will be finalised at the January meeting.

 

F30     FOOTBALL FOUNDATION GRANT

Paddock Wood FC has applied to the Football Foundation for a grant for £11,840 to install the fencing around the pitch at the Elm Tree. Planning permission has already been given.

 

As the land is owned by Paddock Wood Town Council the Football Foundation requires the Town Council to be a joint applicant for the grant.

 

Members are asked to agree that the Town Council’s name can be added to the application. There is no financial implication to the Council. The FF had asked for the information by the 19th November but have agreed to defer the deadline until the 23rd November to allow the Town Council to decide.

 

F31     DATE OF NEXT MEETING

            The next meeting will be held on Monday 10th January 2022

 

 

Nichola Reay

Clerk to the Council

16th November 2021

Paddock Wood Town Council