Minutes of the Meeting of the Finance and Audit Committee held on Thursday, 7th November 2024 at 7pm at Cuxton Library, Bush Road
Present: Cllr Thorley (Vice-Chair ), Cllr Chalker, Cllr Jensen, Cllr Wilson, Cllr White, Cllr Nightingale and Cllr Burley (Chair).
In attendance: Mrs N. Jackson, Clerk,
Cllr Chamberlain
11. Apologies for absence
Cllr Vye
Cllr Manning – resigned.
Cllr Burley – gave apologies for being late and was not present for the start of the meeting. Cllr Thorley (Vice-Chair) chaired the meeting.
It was resolved to accept these apologies.
12. Declarations of Interest (DPI, conflict of interest and personal interests) and alterations to the Register
None.
13. Minutes of the meeting held on 11th June 2024 – for approval
Cllr Chalker proposed that the minutes were accepted as a true record of the meeting. This was seconded by Cllr Wilson and agreed by unanimous vote.
It was resolved to accept the minutes as a true record of the meeting on 11th June 2024.
14. Review of Bank balances held in relation to the compensation limit of the Financial Services Compensation Scheme.
Bank balances were reviewed with regard to the FSCS scheme. Cllr Thorley proposed that as all accounts are currently within limits, this should be reviewed at the next meeting, Cllr Wilson seconded this, and it was agreed by unanimous vote.
It was resolved to review the bank balances, with regards to the FSCS scheme, at the next meeting of the committee.
15. Review of CPC Earmarked Reserves (EMR)
Councillors reviewed the amount held in earmarked reserves against their plans for the forthcoming year and made the following adjustment recommendations.
• To rename the “Recreation Ground Project” reserve to “Recreation Ground/ Roundel” reserve.
• To close the Bike Track reserve and transfer its funds (£5500) to the Recreation Ground/ Roundel” reserve.
• To close the CCTV reserve and transfer its funds (£4931) to the Recreation Ground/Roundel reserve.
• To top up the Woodland reserve to £15K.
These changes were proposed by Cllr Chalker, seconded by Cllr Thorley and agreed by unanimous vote.
It was resolved to recommend the listed changes to the council’s earmarked reserves at the main Council meeting on 21st November.
Cllr Burley arrived at 7.44pm
16. Budget 2025/26
Cllrs discussed their plans and made budgetary assessments for each of the council’s accounting codes for the forthcoming budget year.
Cllr Chalker proposed to recommend the resultant draft budget at the next main council meeting. This was seconded by Cllr Thorley and agreed by unanimous vote.
It was resolved to recommend the draft budget for adoption at the main Council meeting on 21st November.
17. Information Exchange
Cllr Burley thanked Cllr Thorley for chairing the meeting.
Cllr Chalker recorded the resignation of Cllr Manning and asked the clerk to notify the returning officer and commence proceedings for a filling a casual vacancy.
18. Members Future Agenda Items
• Review of Bank balances with regards to the Financial Services Compensation Scheme.
The Chairman closed the meeting at 8.59pm
Next meeting 5th June 2025, 7pm at Cuxton Library
Signed Chairman
On the day of 2025
