The Parish Council operates under financial controls. Some of these are set by legislation and some by the council’s own financial regulations. The clerk has responsibility for day to day financial management but the council as a body is overall responsible for financial efficacy.
Budget and Precept
The council is required to set a budget each autumn. Councillors discuss objectives of the council for the following financial year. These are translated into a draft budget in November each year. Once finalised the formal budget is agreed at a monthly council meeting. Budget setting includes agreeing the level of the precept for the following financial year. This is the sum the clerk applies for from the District authority (Stroud District Council) in January each year. The precept is paid in two separate instalments in the spring and autumn of each year.
Management and Audit
The clerk monitors expenditure and payments on a monthly basis and provides a summary report to each monthly council meeting. Procedures require an internal audit annually. The council appoints an internal auditor, or renews the current arrangement, in the autumn of each year. The internal auditor reviews financial management and ensures the council follows its own financial regulations and other agreed policies and procedures. Depending on the levels of income and expenditure each year, the government may require the council to undergo a formal external audit. This may not be necessary if the council’s annual turnover is less than a certain threshold set by the government.
Once the internal auditor (and possibly the external auditor if appointed) have approved the annual accounts, the clerk for smaller councils is required to upload the Notice of Public Rights to the council website. This means members of the public can inspect the annual accounts on application to the clerk within the set period of time stated on the Notice of Public Rights.
Annual audit last financial year 2019-20
For 2019-2020 the council had an exempt status for full audit purposes. However, there is an exercise of public rights retained. Documents for this are attached for 2019-2020 on this website Home page pending a partial re-structuring of this site. (More details to follow).
Previous financial years
Internal Audit Report 2015-16 and Annual Governance Statement 2015-16
End of Year Accounts 2015-16
Current Accounts 2016 – 17 (including details of all payments made)
Audit 2018 to 2019 exemption certificate sent to auditors: