Finance & Good Governance
The Finance Committee has 5 members including the RFO.
Membership is decided at the Annual Parish Council Meeting each year.
The Committee is empowered to:
- Propose the annual Precept to full Council, having considered any proposals put forward by other committees or Working Parties
- To draft tender documents (following the Policy for Appointment and Management of Contractors and the Financial Regulations) and present to full Council
- Undertake an annual review of effectiveness of internal controls
- Consider how to increase the Council’s income, including an annual review of all rents to be complete by the time of setting the Precept for the next year
- Investigate alternative funding sources such as grants
- Keep under review value for money in all areas of the Council’s spend and make recommendations to Council about necessary changes
- Review according to the schedule those policies and procedures delegated to the committee by the full Council
- Review according to the schedule the risk register, financial risk assessments and any non-financial risk assessments delegated to it by full Council
- Review in conjunction with the Clerk the council’s insurance arrangements, ensuring that the property and risks are adequately insured
- Review the Asset Register annually to ensure it is kept up-to-date
- Keep the Council’s governance arrangements under review to ensure it continues to follow good practice.
