Download a copy of the Draft Minutes of the Finance and Audit Committee 24.04.2025
Draft Minutes of the Finance and Audit Committee held on Thursday 24th April 2025. This was a Hybrid Meeting held at the Welfare Hall, Heol y Felin, Cwmgwrach and via Zoom at 5.45 pm
Present: Cllr P Rudd (Chair of the Finance and Audit Committee) Cllr J Bulman and Cllr M Mortimore.
Council Employees Present: Clerk/RFO L Evans
Chair PR started the meeting. The meeting is held as a multi-hybrid meeting in accordance with The Local Government and Elections (Wales) Act 2021 & the Council Standing Order 3 (b)
Members of the Public Present: No members of the public were present at this meeting
13/25 Apologies for Absence: There were no apologies at this meeting all members of the Finance and Audit Committee were present.
14/25 Declarations of Interest: There were no declarations of interest made at this meeting.
15/25 To Receive the Public Observations on Agenda Items at this Meeting: There were no public observations received at this meeting.
16/25 Matters Arising from the Meeting held on Thursday 24th October 2024
Minute 53/24 b) Council Bank Signatories – Cllr M Mortimore confirmed she will be actioning the bank paperwork being held at the Banks Swansea Branch. RESOLVED
Minute 94/24 b) Clerk had began inputting the figures into the Medium-Term Financial Plan but the document requires further work, to complete for the next F&A Meeting. RESOLVED
17/25 Agenda Items:
a) Quarterly Budget – Clerk presented the prepared documents for the meeting to examine: Quarterly Budget Summary, Quarterly Salary Breakdown, Quarterly Bank Reconciliation and corresponding Bank Statements, and End of Year Budget Figures Comparison. Items below and above budget were discussed and explained.
Park expenditure was well below budget due to no maintenance costs this quarter. Members examined the full cost of this years Panto. Panto Cost £850.00 less ticket sale and donation £765.00 = £85.00 spend. Christmas Celebrations not including lights was £1500.00. Hall Income well exceeded quarter prediction.
RESOLVED The Committee accepted the Quarterly Budget and will take to the May Ordinary Meeting for Full Council to approve.
A full examination of 2024/25 budget was compared with the yearend expenditure and income. An underspend of £10,000 was identified due to the park’s low maintenance costs. Potential uses for this funding include repairs to the astro-turf and lighting or setting it aside for capital expenditure on new projects.
The £4000 surplus income for the hall, exceeding predictions, can be allocated to hall improvements projects such as decorating.
Members discussed the adequacy of the risk assessment reserve, currently £6,500. Suggestions were made to raise this level to either three months of expenditure or a minimum of £10,000. RESOLVED The above items will be discussed with the full council.
Financial records have been provided by the Clerk for review.
Two invoices require approval:
Council Insurance renewal (£3071.73, council have a long-term agreement expiring 16/06/2027) and the 6-monthly NPTCBC trade waste collections (£524.88) RESOLVED approved.
The insurance schedule was reviewed to determine if the damage to the lights and astro-turf was claimable: 16 x Play Equipment items + MUGA, 3G Pitch, Football Pitch, Goal Sets/Nets, All Surfacing, Bins, Wooden and Metal Benches to include delivery & installation £289,135.56 excess £100; 8 x Bollard Lights at Park £9,255.24 excess £100. RESOLVED discussion for full council.
b) 5 Year Financial Plan – Discussed in 16/25 Matter Arising.
18/25 Set Date, Time, Venue and Proposed Agenda Items for the Next Meeting – Agenda Item 1st Quarter Budget, Thursday 17th July at the Welfare Hall and Zoom, to commence at 5.45 pm
Meeting closed at 6.40 pm