Present: Cllr. Mrs. F M Butt (Chairman)

Public Session - there were no questions or comments.

1. Minutes of a meeting of the Finance Committee held on 14^th October 2002

These minutes, which had been previously circulated, were taken as read agreed a true record and signed by the Chairman.

2. Matter arising from the minutes of 14^th October 2002

Recreation Field Contingency

Clerk reported that he had made an error when he asked this committee to look for contingency monies to repair the Play Area fencing. Having looked again at the Recreation Field Action Plan he had found a £1000 contingency built into the Plan. Noted.

3. Correspondence

Norton Radstock Community Chest

Notice received of a Funders Day on 11^th February when six grant making organisations would be giving presentations. Clerk had reviewed the invitation, and other than "Awards for All", the organisations seemed to pitch their grants towards small voluntary bodies and were therefore not available to councils. Clerk to send a letter of apology.

4. Accounts Summary, Cash Flow Statement and Bank Reconciliation (October, November and December)

It was agreed to look at the December 31^st document only. Questions were asked concerning the monies still unspent by some committees. Clerk was able to answer questions on expected bills before the end of the year but members were still unhappy that there would be unspent monies left at 31^st March, mainly in the Environment Committee funds. Chairman asked members to note the unspent money when considering the precept later in the meeting.

The Clerk was asked to award a grant of £300 to the Cricket Club for the continued use of the hall for meetings. Granted under the Local Government (Miscellaneous Provisions) Act 1976, s.19.

5. Internal Audit

Members were very content to see the extensive work done by the Internal Auditor in December and congratulated him on his attention to detail. Members asked that the Council's appreciation for the work done by Mr. Provest should be registered in these minutes.

Mr. Provest noted from his work that this Council receives very small wayleave payments from SWEB for overhead lines or trenching through its property. He wondered if Cllr. McInnes might raise the matter through ALCA and NALC to see if these payments could be brought into line with present day values. Mr. Provest also mentioned the fact that he had been appointed Internal Auditor for the years 2001/2002 and 2002/2003 and that a new IA would have to be appointed before 1^st April 2003. He suggested the appointment should be advertised in the Newsletter. Clerk to inform Magazine Committee meeting.

6. Monies earmarked for co-funding the Football Pavilion

Chairman had suggested that the arrangement be re-investigated due to the length of time the money had been earmarked and the lack of progress on the project due mainly to the Football Club's failure to find grant monies and the complicated legal arrangements required to safeguard the project.

Members agreed that the money could to be earmarked for other purposes. The Clerk said that the promised money had always been one reason given for keeping a high balance when queried by the Auditor, although it is unlikely that the question will be asked again as the precept is now much higher. (Auditors always used the thumb rule of allowing Councils to keep a (precept + one half as a healthy balance; therefore in 2003 a balance of £100,000 would not be questioned). The Clerk added that now the Scouts were looking to build a Scout Hut on the Rec. another player had entered the considerations.

A member mentioned that fact that the Solicitor had advised the Council that the better way to progress any building on the Rec. was for the Council to take the lead and be the full owner.

Cllr. Mrs. Latchem recommended "that the Council re-consider the promise of £20,000 it made for the co-funding of the Football Pavilion and that the Council's promise be rescinded and not considered again until this Council has written proof that the Football Club has guaranteed funding for the project".

The proposal was seconded by Cllr. McInnes and when put to the vote was agreed unanimously.

7. Motion to be put by Cllr. McInnes

Cllr. McInnes gave notice at the last meeting that he would be putting forward a proposal "that a ceiling of £70,000 be put on the precept for 2003/2004". He explained that he felt that a better way to consider the precept was to agree a ceiling and then cut the cloth to suit; that way a suitable moderate rise could be agreed before spending committees set off on their Action Plans. He had noticed that B&NES and the Police were looking to demand a larger percentage rise than they did last year and he felt that with good housekeeping this Council could (in a small way) dampen their rise.

Some members agreed with the idea but felt that the ceiling was too high.

Cllr. J Rich proposed an amendment - he proposed that the ceiling figure be dropped to £65,000. Cllr. Mrs. Latchem seconded the amendment. The amendment was carried unanimously and therefore became the substantive motion.

The motion was then put "that Council is recommended to set a ceiling of £65,000 on the proposed precept for 2003/2004". The motion was carried unanimously.

8. To consider estimates for the democratic process for 2003/2003

The figures produced by the Clerk were accepted for 2003/2004.

9. To propose a precept for the year 2003/2004

It was noted that when a grand total was arrived at the spending was £1609 above the ceiling recommended in Item 7 above. Members suggested that spending Committee Chairmen could get together and sort out the overspend by negotiation and it was pointed out that the Environment Committee may well have a healthy balance in funds at the end of the financial year which would transfer into balances on 31^st March. Perhaps that committee, with the permission of Council, could take a precepted item out of its Action Plan and fund it next year from balances. It was acknowledged that savings in the Magazine and Personnel Committees could be difficult and it was also noted that the Recreation Field Committee had halved its spending for next year.

Meeting closed at 8.40 p.m.