November 2022
Minutes of the Finance Committee of Market Rasen Town Council, held on Tuesday 22nd November 2022 at 6.00pm in the Committee Room adjacent to the Festival Hall, Caistor Road, Market Rasen.
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Present:
Councillor Hassan (Committee Chairman), Councillor Bunney, Councillor Lakin-Whitworth and Councillor Taylor*(From 18:25).
In attendance:
Lucy Waller – Town Clerk and Responsible Financial Officer (RFO)
Councillor Pilley
Councillor Smith
The Meeting opened at 18:00
1. Chairman’s opening remarks
The Chairman welcomed members to the meeting.
2. To RESOLVE to approve and accept apologies for absence and reasons given.
Apologies were received from Councillor Gray; it was RESOLVED to approve the apologies.
3. To receive any declarations of interest in accordance with the requirements of the localism Act 2011 and to consider any applications for dispensations in relation to Disclosable Pecuniary Interests.
None
4. To RESOLVE to approve the minutes of the meeting held on July 26th, 2022, as a correct record.
It was RESOLVED to approve the draft minutes of the last meeting, held on July 26th, 2022, as a correct record.
5. To NOTE and RESOLVE any action in relation to, a report from the Community Manager outlining the business plan for Festival Hall, including:
- promotion plans and costings.
- comparisons with local competing venues.
- reviews of minimum hire period and deposit processes
- potential packaged offers.
- Council Fees for 2023/2024 (RESOLVE any recommendation to Full Council)
Members noted the report. It was highlighted that:
- greater financial viability analysis was required, particularly in relation to rising costs with all options considered including cost cutting, reduced opening and closure of the hall. (However, it was noted that public consultation would be required to ensure that any decision was in line with the needs /desires of the electorate.)
- greater marketing analysis was required to identify products, target audience and comparison to competitors.
The Clerk in consultation with the Community Manager was tasked to produce an in-depth analysis and report for consideration.
It was RESOLVED to delegate to the Community Manager to return damage deposits within 1 week of bookings, subject to satisfactory post hire checks, with repayments to be noted under the preauthorised payments at the next council meeting.
6. To NOTE the budget recommendations and income and expenditure report to end of Quarter 2 - 22/23 and RESOLVE any action.
Members noted the Responsible Financial Officer’s recommendations for budget virements (as shown in Appendix A.) including the release to running funds of £8363 of general reserves and the £16434.28 budgetary pressures ear marked reserve to produce a balanced budget for the financial year 2022/2023 in light of the changing economic situation.
7. To NOTE the budget and precept recommendations for 23/24 and to RESOLVE the precept estimate to be sent to West Lindsey District Council
Members noted the report and RESOLVED to accept the Responsible Financial Officer’s estimated budget for 2023/2024 (as shown in Appendix B) and to submit an Estimated precept request of £161,890.
8. To consider any action on the electricity contracts due for renewal in September 2023.
It was RESOLVED to delegate to the Clerk to receive quotations for electricity supply from September 2023 and to accept the best value offer for the council as at 9am on the 1st December 2022.
9. To NOTE Festival Hall income / expenditure in Q2 22/23.
Members noted the report.
10. To NOTE the internal control checklist for Q1 22/23 and NOMINATE a member to undertake the internal control checklist for Q2 22/23.
Members noted the report and Councillor Hassan was nominated to undertake the internal control checklist for Q2 22/23.
11. To RESOLVE that under the public bodies (admission to meetings) act 1960, the public and representatives of the press and broadcast media be excluded from the meeting during the consideration of the following items of business as publicity would be prejudicial to the public interest because of the confidential nature of the business to be transacted.
The above RESOLUTION was passed.
12. Debtors List.
Members noted the debtors list, it was highlighted that the two debtors were not considered to be high risk.
The meeting closed at 19.06