Finance Committee, 13 January 2016

HELMDON PARISH COUNCIL
FINANCE COMMITTEE MEETING
Members of the Finance Committee of Helmdon Parish Council are summoned to attend a meeting of the committee to be held straight after the Planning meeting, in the Committee
Room, Reading Room, Church Street, Helmdon, NN13 5QJ on Wednesday 13th January,
2016 at 8.15pm
Members of the public and press are welcome to attend this meeting. This meeting may be recorded, filmed or broadcast without prior notice to the Parish Council, provided that such activity does not impede the conduct or business of the meeting.
AGENDA
1. Apologies
2. To consider co-opting Cllr Thorpe to the Finance Committee
3. Declarations of Interest
4. Approval and signature of the minutes of the meeting of 24th November, 2015
5. Matters arising
6. Open Forum
7. To receive an update from the Clerk on the electricity usage and supplier agreement.
8. To review the updated Terms of Reference document
9. To review the New Homes Bonus allocation for Helmdon.
10. To receive a financial update from the Clerk:
a. Financial statement b. Payments received c. Invoices to be paid
11. To review the Sinking Fund file.
12. To consider the draft budget for 2016-2017, to be submitted to Council at 27th January meeting
13. To consider the precept for 2016-17, to be submitted to Council at 27th January meeting
14. Close
Signed_________________ Dated______________
Helen du Bois
Clerk to Helmdon Parish Council
[address removed] tel: [phone number removed]

HELMDON PARISH COUNCIL
MINUTES
of the meeting of the Finance Committee held in the Committee Room,
Church Street, Helmdon at 8.15pm on Wednesday 13th January, 2016.
PRESENT: Cllrs Coatsworth (Chair), Moody, Hart, Thorpe and the Clerk. Cllr Vicars joined at item
12.
IN ATTENDANCE: 0 members of the public attended.
1. Apologies
Apologies were received from Cllr Garner (holiday) and Cllr Vicars (prior engagement)
2. To consider co-opting Cllr Thorpe to the Finance Committee
It was resolved to co-opt Cllr Thorpe to the Finance Committee.
3. Declarations of Interest
There were no declarations of interest
4. Approval and signature of the minutes from the meeting on 24th November, 2015
The minutes were approved with no amendments and signed by the Chairman.
5. Matters arising
There were no matters arising
6. Open Forum
There were no members of public in attendance
7. To receive an update from the Clerk on the electricity usage and supplier agreement
The Clerk explained that due to time constraints the full report was not yet complete but provided the following detail:
 Helmdon have an unmetered, deemed contract with E.On which can be terminated at any time.
 In May 2015, E.On increased their prices from 8.240p pkwh to 12.400p pkwh and this increase will lead to an expected rise in annual electricity costs from £610 to £920 per annum.
 Due to low usage Helmdon will not benefit from switching to a fixed contract with E.On.
 7 other suppliers have been contacted for price quotations for their electricity supply –
Opus have already responded and their estimate is ~ £190 per quarter, compared to
~£230 per quarter expected for E.On
Cllr Hart questioned the % drop in usage we should expect if switching to LED lightbulbs and whether this would also affect the ongoing maintenance costs. The Clerk agreed to ensure that this information was included in the final report.
It was agreed that for budgeting purposes it should be assumed that Helmdon will remain with
E.On until the report is complete.
Action: Cllr Moody to provide the Clerk with details of Parishes that had already made the switch to LED lighting. The Clerk to provide a full report ahead of the Main Council meeting on
27th January.

8. To review the updated Terms of Reference document.
It was resolved to present the final draft to the Council at the next main meeting for signature.
9. To review the New Homes Bonus allocation for Helmdon.
At present there is £13,898 allocated to Helmdon. Cllr Moody confirmed that there was no expiry date for this grant fund.
10. To receive a financial update from the Clerk.
The clerk presented the 2015-2016 daybook.
In summary:
 Account balance £16,422.55
 Payments received since 25/11/15: £5.68
 Invoices to be settled this period: £1358.54
1 NCALC NCALC Training BACS £150.00
2 CPRE Subscription 300059 £36.00
3 H du Bois Wages BACS £648.26
4 H du Bois Office expenses BACS £32.96
5 E.On Lighting Maintenance BACS £124.93
6 E.On Electricity BACS £216.39
7 D Moody Helmdon.com management BACS £150.00
Total £1358.54
The Clerk explained that CPRE had lost the cheque that had been sent to them in November
(cheque no: 300057). It has not been cashed but Unity will charge £10 for it to be stopped. It was resolved not to stop the cheque but to monitor the account. A new cheque will be issued to CPRE at the next main Council meeting.
11. To review the Sinking Fund file.
The updated Sinking Fund file was presented to the Council (appendix B). It was agreed that if there has been an overspend of a particular fund for a project, the Expected Total column should show a –ve spend for that year but that the project fund should return to zero in the following year (as seen for the money allocated to Noticeboards in 2013/13)
Cllr Moody expressed concern that the Sinking Fund File should not be seen as a general savings pot, but should contain reserves earmarked for specific projects that have been planned. It was agreed that in 2016/17 plans will be put together for spending on the
Playground and War Memorial projects.
The committee recommends allocating £125 to the sinking fund for the Computer.
The Clerk queried whether the Sinking Fund monies should be moved to the Unity savings account but it was agreed to leave it as is, alongside General Reserves in the Council’s main bank account.
Action: The Clerk to finalise the Sinking Fund and distribute to the Finance Committee.
12. To consider the draft budget for 2016-2017, to be submitted to Council at 27th
January meeting.
It was resolved to put forward a budget proposal of £24,100 (as detailed in appendix A) to the
Full Council meeting on 27th January, of which £8,165 is earmarked for projects to be funded from the New Homes Bonus allocation.
Action: the Clerk to circulate the Budget document amongst the Finance Committee.

13. To consider the Precept for 2016-2017, to be submitted to Council at 27th January meeting.
It was resolved to put forward a precept proposal of £15,810 (as detailed in appendix A) to the
Full Council meeting on 27th January.
14. Close
There being no further business, the Chairman declared the meeting closed at 10:18pm.
Signed__________________
Cllr John Coatsworth, Chairman
Date_________

Appendix A
Budget
1,175.00
750.00
425.00
Code EXPENDITURE
100 1. Lighting
101 Street lighting
102 Electricity repairs
103 Other
200 2. Parks & Open Spaces
201 Grass cutting
202 Playground equip. inspection
203 School field rent
204 War memorial and pump gardens
205 Bulbs
206 Specific projects from sinking funds
207 General Contingency
208 Parish Paths
300 3. Sinking Fund
301 Playground equipment
302 Notice boards
303 Computer
304 War memorial
305 Village seats
306 Other
400 4. General Adm inistration
401 Audit charge
402 Clerk's salary
403 Clerk's expenses
404 Election expenses
405 Insurances
406 NCALC training
407 Subscriptions
408 Reading Room rent
409 New sletter (Talkabout)
410 Web site
411 Traffic calming measures
412 Other (now Vof Yr)
500 Grants
501 Grants to Village Organisations
502 Village of the Year – Nat comp
503 S. 137
600 6. Burial Grounds
601 Churchyard Maintenance
602 Contingency
3,050.00
1,500.00
75.00
350.00
150.00
75.00
750.00
150.00
2015-2016
Exp Jan-Mar 16 Actual
124.93 1,410.57
124.93 1,363.63
46.94
Rem aining
-485.43
-738.56
378.06
-22,615.04
130.03
10.00
25,665.04
1,369.97
65.00
350.00
150.00
22.93
-22,508.00
-420.00
52.07
23,258.00
570.00
see sinking fund doc
7,575.00
255.00
4,015.00
150.00
1,220.00
150.00
450.00
225.00
960.00
150.00
715.22 1,048.31
648.26
32.96
586.81
-0.24
-39.00
120.57
-84.33
-12.39
25.00
528.84
34.00
76.95
718.60
625.00
93.60
-76.95
631.40
725.00
-93.60
900.00
400.00
500.00
400.00
400.00
500.00
14,050.00 34,005.68
1,350.00
1,350.00
Total Regular Expenditure
701 Transfer Out
702 To Deposit Account
703 Other
704 Vat Paid
Total Expenditure
5,811.47
255.00
2,779.93
117.28
39.00
1,099.43
200.33
462.39
200.00
431.16
150.00
6,390.00
1,600.00
65.00
350.00
150.00
75.00
4,000.00
150.00
465.00
2,025.00
1900.00
14,660.00
25.00
160.00
14,660.00
16.96
22,808.00 22,808.00
1,170.00
650.00
921.00
225.00
270.00
150.00
3,200.00
2,050.00
1,350.00
200.00
500.00
400.00
400.00
-20,795.83 24,100.00
-8.04
-160.00
25.00
100.00
528.48 528.48
Total Regular Incom e
909 Misc Transfers In
38,013.44
Total Working Incom e 38,013.44
Balance 3,236.18
Balance end of
Jan 2016
15,064.01 Unity
Total 15064.01
Outstanding Jan-Mar 2016
Expected
Balance end
March 2016
840.15 14,223.86
840.15 14,223.86
Payments:
Receipts:
Expected Sinking Fund Reserves
Expected General Reserves
Based on the figures our anticipated budgeted expenditure is:
Less our anticipated income (exc precept)
£6,033.60
£8,190.26
£24,100.00
£125.00
"-ve adjustments due to grants
"-/+ adjustment to general/earmarked reserves
Precept Request
Rounded
Previous precept
£8,165.00
£15,810.00
£15,810.00
£14,660.00
7.84%
Grant
11,616.00
400.00
4,480.00
150.00
500.00
840.15
Grant
125.00
771.58
34,777.26
900 INCOME
901 Precept
902 Interest
903 Allotments
904 New sletter
905 Grants+Prizes
906 Donations
907 Dividends
908 Village Hall – Reading Room
910 Vat Repayment
Precentage increase on last year
Budget for 2016/17
Budget
1,619.00
1,419.00
200.00
Grant
Grant

Appendix B
Reserves – general and sinking fund – 2016/17
Year ending
31/03/16
General
8,190.26
Sinking Fund
6,033.60
Total funds available
14223.86
Breakdown Total 31/03/16 Expected spend this yr to date
Budgeted for sinking fund this yr
Expected Total 31/03/17
606.49
1,000.00
259.46
1,316.67
1,800.00
0.00
1,100.98
0
606.49
0
0
0
0
0
0
0
0
0
125
0
0
0
0
0
0.00
1,000.00
384.46
1,316.67
1,800.00
0.00
1,100.98
0.00
Playground equipment
Notice boards
Computer
War memorial
Village Seats
Pump Repair
Elections
Other
Total 5,602.11