Minutes of the Finance Working Group – 16th November 2023
LITTLE EATON PARISH COUNCIL
clerk@littleeatonparishcouncil.org.uk
Minutes of the Finance Working Group of Little Eaton Parish Council held on Thursday 16th November 2023 at 6pm
PRESENT: Councillors D Howard (Chair), C Holmes, E Jennison-Boyle and R Scott
IN ATTENDANCE: Parish Clerk
23/F001 Apologies for absence
No apologies for absence were received.
23/F002 Declaration of members interest – None
23/F003 Budget 2024/25
Councillor Scott circulated a draft budget for 2024/25 to members and explained the methodology used for the calculations. It was agreed to apply a CPI figure of 5% to all appropriate income and expenditure.
Councillor Howard proposed and all agreed to adopt the 2024/25 Budget and present it at the next full Council meeting on Wednesday 22nd November for ratification.
23/F003 Precept Demand 2024/25
It was noted that in order to meet all the Parish Council’s regulatory obligations and to replenish the general reserve to 40% of recurrent expenditure the precept would need to be increased to £42,469. The larger than usual increase is also attributable to the reduction in concurrent payment from Erewash Borough Council.
23/F004 Budget 2025/26, 2026/27
It was agreed that income and costs should be increased by 5% in each of the years 2025/26 and 2026/27 and presented to full Council for approval.
23/F005 Transfer of Funds from reserves
It was agreed to move the funds held in the Easter Memorial Fund to the Parish Council’s current account in order that the invoices for the Village Sign and its installation can be settled.
There being no further business the Chair declared the meeting closed at 6.30pm.
