PADDOCK WOOD TOWN COUNCIL
The Podmore Building, St Andrew’s Road, Paddock Wood, TN12 6HT
Telephone: 01892 837373
MINUTES OF A MEETING OF THE FINANCE COMMITTEE HELD on Wednesday 22nd June 2022 at the Day Centre, Commercial Road, at 7.45 p.m.
PRESENT: Cllr M Flashman, in the Chair
Cllr H Atkins, R. Atkins, S. Hamilton, R. Moon
IN ATTENDANCE: Mrs N Reay, Town Clerk
Mrs T Maxwell, Responsible Financial Officer
APOLOGIES Cllrs R. Turk & C Williams
F1 DECLARATIONS OF INTEREST
There were no declarations of interest.
F2 MINUTES OF THE PREVIOUS MEETING
The minutes of the meeting held on 10th January 2022 were APPROVED.
F3 MATTERS ARISING FROM THE PREVIOUS MINUTES
There were no matters arising from the previous minutes.
F4 INTERNAL AUDITORS REPORT
Members noted the internal auditor’s report. There were no matters of concern and the RFO was thanked for her work.
F5 BUDGET 2022/23
Members NOTED the budget figures to date.
The following issues were discussed:
- Rising cost of electricity – the RFO advised that she was looking to review the contracts as and when they became due.
- Electric van – the clerk advised that there were difficulties obtaining an electric van. The council was currently renting a diesel van from a local supplier. This cost £390/month. Costs to for a diesel van on a lease purchase scheme had been obtained. They were £324/month with an £8000 final payment in 4 years’ time. Members were asked if they wished the Estates Committee to review its decision to have an electric van. Following a discussion, it was agreed that the Finance Committee did not wish to recommend that the Estates Committee should review this decision.
F6 BANK RECONCILIATION
The bank reconciliation was NOTED.
Members noted the reserves balance. The RFO reported that there were some further adjustments to be made. Members received a report detailing the adjustments.
F8 MISCELANOUS RECEIPTS
Members considered the attached report regarding cash which had been found on Town Council land.
Cllr R Atkins proposed, Cllr Hamilton seconded:
That the money should in the first instance be offered to the person who had found it. If they were not contactable then the money should be donated to the Food Bank.
A sum of £500 had been paid erroneously into the Town Council’s Bank account. HSBC had advised that the account number from which it had come from was not valid and the money could not therefore be refunded. HSBC customers had up to three years to claim back payments made in error. The money will therefore be held on deposit for that period of time.
F9 DATE OF NEXT MEETING
The next meeting will be held on Monday 10th October 2022 at 6.30 pm
The meeting closed at 8.30 pm