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

There were no comments or questions.

1. Minutes of a meeting of the Finance Committee held on 3^rd November 2003

These minutes, which had been previously circulated, were taken as read agreed a true record and signed by the Chairman. There were no matters arising.

2. Correspondence

a). Inland Revenue

Letter explaining financial inducements for this Council if it carries out its business with the IR "on line" next year, although the Council need not go on line until the year 2009/2010. RFO warned however that until local government legislation is changed it is illegal to pay any monies other than by signed cheques or through a properly accounted for petty cash system. Noted.

b). Section 137 Payments

The RFO has received notice that these payments will, in future, be linked with inflation. The figure for this year has been raised by 2.7% to £5.14 per elector. Noted.

c). B&NES Resources Planning

The RFO has received the Precept request form for 2004/2005. Noted.

3. To receive the Accounts Summary, Cash Flow Statements and Bank Reconciliation

Members noted the paper for 30th November 2003 (previously circulated) and then scrutinised the paper for 31^st December 2003, which had been tabled.

Questions were asked and answered by the RFO to members' satisfaction. It was noted with interest that with 3 months to go before the end of the financial year, 76% of the planned spending had been used.

The RFO reported that the Chairman of the Lighting Committee has requested this Committee to sanction an extra £800 from other sources to help fund the four new lights planned by that committee. The quote had come in £800 over and above the monies left in the Lighting head. The Committee agreed that there was no slack at this time to sanction any virement and it was suggested the Lighting Committee re-look at their programme.

4. To consider estimates to fund the Democratic Services of the Council

The RFO had previous circulated his proposed figures for this service and all figures were endorsed. The Committee was then asked to consider the proposal from the Environment Committee that Council should find monies to re-furbish the Beacon and its plinth (£3000). Members agreed with that Committee as they felt that the Beacon did not come under their stewardship.

5. To set the level of precept for the year 2004/2005

The spending limit set by this Committee and endorsed by Council was then reviewed and agreed to be £66,625 from the precept added to the £3,000 agreed to be taken from balances making a grand total for spending of £69,625.

The estimates were calculated and the final total was £334 inside that spending limit. The spare £334 was added to the contingency head.

The Chairman put to the Committee that: -

The proposal was seconded and agreed unanimously.

The Chairman thanked the Spending Committee Chairman, all members and the Clerk/RFO for their diligent work over the past couple of months.

Meeting closed at 9.45 p.m.