Publication

Finance and Policy Minutes Signed 22-01-2024

Posted on

Attendance:

Councillor J Harvey (Chairman)

Councillor P Hulbert

Councillor A Drummond

Councillor R Nobbs

Councillor R Hood

Councillor Yarrow

Also Present: C Whitaker – Town Clerk, J Ashton – Minute Assistant and Cllr Winter as an observer.

Minute

F/24/01/1 Chairman to Read the Fire Safety Notice and Announce that Proceedings may be filmed or Recorded
The Chairman opened the meeting and advised that the Fire Safety Notice was not required and confirmed that proceedings were being recorded.

F/24/01/2 Apologies for Absence
None noted.

F/24/01/3 Declaration of Member’s Interests and to Remind Councillors of the Need to Keep up to Date their Register of Member’s Interests and to Consider any Requests Received for Member’s Dispensation
None noted. There were no requests for Member’s Dispensation.

F/24/01/4 To Confirm the Minutes of the Meeting Held on 20th November 2023 and any Matters Arising
Members received the minutes of the Finance & Policy Committee meeting held on 20th November 2023 and the following was agreed:

F/24/01/4.01 Resolved
That the minutes of the Finance & Policy Committee meeting held on 20th November 2023 be adopted and signed as a true record by the Chairman of the Finance & Planning Committee.

There were no matters arising.

F/24/01/5 Public Open Session
No members of the public were present.

F/24/01/6 Submission of Schedules of Payments for Information CB1 – CB4
Members reviewed CB1 – CB4 for month 8 and 9 (2023/2024) and the following was agreed:

F/23/11/6.01 Recommendation
That the ratification of the schedules of payments for the period 01/11/2023 – 30/11/2023 and 01/12/2023 – 31/12/2023 (Cash Book 1 – 4) be received and adopted.

F/24/01/7 To Confirm the Bank Statement Balances & Related Bank Reconciliation have been signed by the Chairman of F&P Committee
The Chairman of the Finance & Policy Committee confirmed scrutiny of the bank reconciliations relating to the end of 31/12/2023 (month 9) for the Town Council’s Current, Petty Cash, Salaries and Barclaycard Cashbooks.

F/24/01/8 To Receive the Income and Expenditure
The Income and Expenditure reports for December 2023 were received and noted.

F/24/01/9 Predicted Budget Outcome 2023/2024
The predicted budget outcome for the end of Quarter 3 was presented and the total predicted total outcome for 31/3/2024 of £55,171 underspend, was noted.

F/24/01/10 Neighbourhood Plan Government Funding for NNP Review
A report on the available funding for the NNP review was considered and the following was agreed:

F/24/01/10.01 Recommendation
That an application be made for government Locality free of charge technical support and funding for planning consultancy for the NNP Review.

F/24/01/10.02 Recommendation
That delegated powers be given to the Town Clerk to apply for any future necessary funding for NNP consultancy.

F/24/01/11 Health and Safety
The monthly Health and Safety report was received and noted. Town Clerk was asked to make enquiries regarding the efficiency of the lift and what possible strategy could be put in place to plan for replacement in due course.

F/24/01/12 Policies
An update was given on the Policy Review Schedule and the following policies were reviewed. The following was agreed:

F/24/01/12.01 Recommendation
That the following revised policies be approved:

• Newmarket Town Council Standing Orders NTC/2.3
• Newmarket Town Council Financial Regulations NTC/203
• Newmarket Town Council Financial Risk Assessment
• Newmarket Town Council Internal Control Statement

F/24/01/13 Small Grants
A request from the Newmarket Allotment Association was considered and the following was agreed:

F/24/01/13.01 Recommendation
That the grant application from the Newmarket Allotment Association for £500.00 be approved.

A request from Abbeycroft Leisure was considered and the following was agreed:

F/24/01/13.02 Recommendation
That the grant application from Abbeycroft Leisure be approved with an award of £1,300.00

A request from the Bury St Edmunds Women’s Aid was considered and the following was agreed:

F/24/01/13.03 Recommendation
That the grant application from the Bury St Edmunds Women’s Aid for £.1,000.00 be approved.

F/24/01/14 Investments
A report regarding Town Council investments and the need to update the Council’s Medium-Term Financial Plan and Treasury Management Policy was discussed and the following was agreed:

F/24/01/14.01 Recommendation
That delegated powers be given to the Chairman and Town Clerk to review and update the Council’s Medium-Term Financial Plan and the linked Treasury Management Policy, and to research the professional advice regarding investment opportunities. To report findings to the next F&P meeting.

F/24/01/15 Correspondence
None noted.

F/24/01/16 Date of Next Meeting
Monday 18th March 2024 at the Memorial Hall.

Meeting closed at 8:00pm

Signed: By the Chairman                   Date: Monday 22nd January 2024

Summary of Recommendations Recommendation Wording
D/24/01/6.01 Recommendation

 

 

 That the ratification of the schedules of payments for the period 01/11/2023 – 30/11/2023 and 01/12/2023 – 31/12/2023 (Cash Book 1 – 4) be received and adopted.
D/24/01/10.01 Recommendation That an application be made for government Locality free of charge technical support and funding for planning consultancy for the NNP Review.
D/24/01/10.02 Recommendation That delegated powers be given to the Town Clerk to apply for any future necessary funding for NNP consultancy.
D/23/11/12.01 Recommendation That the following revised policies be approved:

 

·              Newmarket Town Council Standing Orders

·              Newmarket Town Council Financial Regulations

·              Newmarket Town Council Financial Risk Assessment

·              Newmarket Town Council Internal Control Statement
D/24/01/13.01 Recommendation That the grant application from the Newmarket Allotment Association for £500 be approved.
D/24/01/13.02 Recommendation That the grant application from Abbeycroft Leisure for £1,300.00 be approved.
D/24/01/13.03 Recommendation That the grant application from the Bury St Edmunds Women’s Aid for £1,000.00 be approved.
D/24/01/14.01 Recommendation That delegated powers be given to the Chairman and Town Clerk to review and update of the Council’s Medium-Term Financial Plan and the linked Treasury Management Policy, and to research the professional advice regarding investment opportunities.  To report findings to the next F&P meeting.