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COTGRAVE TOWN COUNCIL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST MARCH, 2009
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CONTENTS
1. Council Information
2. Statement of Responsibilities
3. Notes to the accounts
7. Income and Expenditure Account
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Council Information
Chairman of Council
Councillor Andrew Wilkie
Vice Chairman of Council
Councillor Eric Woolsey
Other Councillors
Victor Allison
Jennifer Armstrong
Clive Atkins
Richard Butler (N) (B)
Mick Chewings
Maureen Hill
Christine Jeffreys (B)
Norman Monday
Ron Murphy
Ian Shaw
Paul Stephens
Bryan Tansley (B)
Pat Walsh
David White
(B) indicates a member of Rushcliffe Borough Council
(N) indicates a member of Nottinghamshire County Council
Town Clerk
Mrs Ann Ellis BA
Council Offices
Cotgrave Leisure & Enterprise Centre, Woodview, Cotgrave, Nottingham,NG12 3PJ
Telephone 0115 989 3876, Fax 0115 989 0439
www.cotgrave-tc.gov.uk - E Mail clerk@cotgrave-tc.gov.uk
Auditors
Clement Keys, 39-40 Calthorpe Road, Edgbaston, Birmingham B15 1TS
Internal Auditor
Mrs K Knight
Bankers
Co-Operative Bank Plc, 4-5 Exchange Walk, Nottingham, NG1 2NX
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Statement of Responsibilities for the Statements of Accounts
31st March, 2009
The Council’s Responsibilities
The Council is required:
to make arrangements for the proper administration of its financial affairs
to ensure that one of its officers has the responsibility for the administration of thos affairs and to secure economic, efficient and effective use of resources and safeguard its assets.
At this Council the Responsible Finance Officer is the Town Clerk.
The Finance Officer’s Responsibilities (RFO)
The RFO is responsible for the preparation of the Council’s statements of accounts in accordance with Section 151 of the Local Government Act 1972 to present fairly the financial position of the Council at 31st March, 2009 on an income and expenditure basis.
In preparing the statement of accounts, the RFO has:
selected suitable accounting policies and then applied them consistently
made judgements and estimates that were reasonable and prudent, and complied with the code.
The RFO has also:
kept proper accounting records which were up to date, and
taken reasonable steps for the prevention and detection of fraud and other irregularities.
Further information about the accounts is available from the Clerk, Council Offices, Cotgrave Leisure Centre, Woodview, Cotgrave, Nottingham, NG12 3PJ, Tel: 0115 989 3876, E Mail: clerk@cotgrave-tc.gov.uk or visit web site: www.cotgrave-tc.gov.uk
This is part of the Council’s policy of providing full information about its affairs. Interested members of the public have a statutory right to inspect the accounts before the audit is completed. The availability of the accounts for inspection is advertised on the local notice boards.
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Cotgrave Town Council
Notes to the Accounts
For the Year Ended 31st March, 2009
1. Assets
Assets listed are those of a value greater than £1,000 except those of a nominal value.
a) During the year a tractor and trailer were purchased.
b) Community Assets
The assets listed under community assets are assets which have no determinable
commercial value and therefore have been included at nil values in accordance with
CIPFA Accounting Guidance Section 4.9.4.
Grassmere Play Area
Broadmeer Play Area
Woodview Play Area
The Green Play Area
Ring Leas Play Area
Allotments at Burhill and land on north side from Burhill to the allotments
Allotments at Forest Close
Playing Fields (Maddison Park) around Leisure Centre
Teen Shelters on the Green
Arthur Ridley Sportsground
CCTV Equipment
Street furniture
Play equipment at various locations
Cash Machine Housing at Shopping Centre (agreement between Cotgrave Town Council and
Lloyds/TSB).
c) Other Assets
The following assets reflect their insurance valuations:-
Cotgrave Futures Community Building 1,124,760
Pavilion 140,228
Tractor 8,000
Office Contents 20,000
Civic Regalia 1,500
Garage specified items 5,000
1,299,488
A detailed inventory is available for inspection at Council`s offices.
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2. Borrowings
At the close of business on 31st March 2006, there were no loans outstanding.
3. Debts Outstanding
At the end of the year there were no debts outstanding.
4. Earmarked Reserves Balance at year end
Election Reserves 2,846.00
Community Reserves 32,299.00
Play Equipment Contingency 5,000.00
Play Equipment Replacement 15,000.00
Parish Paths 831.06
Youth Zone 695.00
Town Plan 11,938.95
Village Design Statement 5,044.60
Programmed Projects 99,604.84
Youth Council 2,000.00
Legal Costs 372.00
240,631.45
4.1 The next election is due in 2011.
4.2 At the Council Meeting held on 17th November 2004, Council resolved to restructure its
reserves. This was done to ensure that council could withstand any unanticipated items
of expenditure whilst maintaining a minimum level of reserves and to ensure that Council’s play equipment continues to be maintained to the highest standard. Council’s revised financial regulations require a minimum Community Reserve of £30,000.
4.3 Council required a play equipment contingency fund of £5,000.
4.4 £15,000 was set aside for play equipment replacement.
4.5 £831.06 represents the
residual amount of a grant from Nottinghamshire County Council to undertake
minor maintenance work on the local
path network.
4.6 SRB granted £1,245 towards Cotgrave Future’s Youth Zone equipment, of which £695 remains.
4.7 Cotgrave Town Council successfully applied for grants towards the production of a Town Plan which aims to identify the community’s most pressing issues and propose solutions and the means of acquiring these solutions. The Countryside Agency awarded £3,500, Nottinghamshire Rural Development Fund awarded a grant of £977, the Coalfield Regeneration Trust awarded £52,684. At the end of the year £11,938.95 remains.
4.8 The Village Design Statement focuses on the built-up environment. It records what local people value and propose guidelines for development. The Steering Group aims to produce and publish a Village Design Statement within a glossy brochure.
4.9 Council has adopted a ‘wish list’ of those projects which will form the basis for Cotgrave’s
future planning. The level of funding allocated to it (currently £99,604.84) is the amount remaining in reserves after setting a general reserve of £65,000.
4.10 The Town Council is working in partnership with local youth organisations with a view to
eventually establishing a Youth Town Council.
4.11 The legal costs fund reflects an ongoing project with Nottinghamshire County Council
to sub lease the Childrens’s Centre at Cotgrave Futures.
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5. Tenancies
Cotgrave Futures Trustees Cotgrave Futures Peppercorn
B Council as tenant
Property Rent pa Term
Coal Industry Social Welfare Arthur Ridley Sportsground 665.18 125 years
Organisatiaon (CIWSO) Rent to be reviewed in
March 2012
(25.3.97-24.3.2122)
Coal Industry Social Welfare Cotgrave Futures building 26.00 50 years
Organisation (CISWO) and multi play area (11.12.01-10.12.51)
Rushcliffe Borough Council Grassmere Play area 275.00 25 years
(25.11.92-24.11.2017)
Rushcliffe Borough Council Ring Leas Play area 265.00 25 years
(25.11.92-24.11.2017)
Rushcliffe Borough Council The Green 275.00 25 years
(25.11.92-4.11.2017)
Rushcliffe Borough Council Broadmeer Play area 40.00 25 years
(21.12.98 -31.10.2023)
Rushcliffe Borough Council Forest Close Land for allotments 35.00 25 years
(14.12.2000-31.12.26)
6. Section 137 payments
Section 137 of the Local Government Act 1972 enables the Council to spend up to the
product of £5.64 per head on the electoral roll as at 1st April, for the benefit of the people
in the area on activities or projects not specifically authorised by other powers.
The total amount available for this purpose in 2007/2008 was £30,568. One grant of £50 was awarded to Cotgrave Church of England school towards the cost of the production of the “Wizard of Oz”. Another grant of £100 was awarded to Dayncourt school towards the official opening of the sports arena.
7. Other grants £
Fireworks Display 1,500
Appointment of Special Constables 2,500
All Saints clock 50
Rushcliffe Barn Owl project 100
Dayncourt School fashion show 100
8. Agency Work
In 1996 Cotgrave Town Council made an agreement with Nottinghamshire County
Council, in the Parish Paths Partnership Scheme whereby Nottinghamshire County
Council, as Highways Authority, has granted financial assistance to this Council to
undertake minor maintenance work on the local path network. This agreement was renewed
in March 2004.
The aim of this agreement is to establish a partnership between Nottinghamshire
County Council and the Town Council to harness and co-ordinate local resources and skills with the assistance of grant aid from Nottinghamshire County Council with the intention of opening up, repairing and maintaining public rights of way in the area of Cotgrave.
Currently £831.06 is held in reserve.
The Town Council also carries out grass cutting on behalf of the Highways authority and the agents for the Shopping Centre. During 2007-08 Council received £2,624 income from grass cutting.
9. Advertising and Publicity
The following payments were made.
Council produced and delivered four newsletters during the year at a cost of £2,577..
10. Contingent liabilities
At the end of the year there were no grounds for allowing for such contingencies.
11. Pensions
During 2007/08 the Council paid an employer’s contribution of £9,633.36 representing
16.3% of the employees` pensionable pay into Nottinghamshire County Council’s pension
fund.
The contribution rate is determined by the fund`s actuary which is Mercer Human Resources Consulting Ltd, Mercury Court, Tithebarn Street, Liverpool, L2 2QH based on triennial actuarial valuations.
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