The Finance Working Group monitors all Council income and expenditure and recommends a budget annually to Council. The Council raises the funds required to meet its budgeted costs through the precept (a mandatory demand) issued on North Somerset Council. Requested under council tax legislation, the precept covers the Council’s needs for the following financial year which, by law, runs from 1 April to the following 31 March. North Somerset Council collects the amount precepted as part of the council tax levied on tax payers in the parish.
At the Council meeting held 18 January 2017 it was agreed to request a precept of £92,454 for 2017/18. This is equivalent to £76.37 for a Band D property, which is unchanged for the fifth year running. It should be noted that the remainder and majority of the council tax charge is levied by the District Council and the Police and Fire authorities.
The Working Group also monitors internal and external auditing and related matters. Financial Regulations govern the conduct of the financial transactions of the Council. The Responsible Financial Officer (RFO) is the Clerk to the Council, who is responsible for the administration of the Council’s financial affairs.
End of Year Report & Audit
The Council must complete an Annual Return summarising its activities at the end of the financial year. The Annual Return incorporates Accounting statements, an Annual Governance statement, an Internal Audit report and, when completed, an External Auditor’s certificate. As is required by legislation, the relevant notice is displayed on the Council’s notice board and the audited accounts are available for inspection in the office.
Section 137 of the Local Government Act 1972 empowers the Council to spend some of its money, subject to limits, on purposes that it considers to be ‘in the interests of, and will bring direct benefit to, their area, or any part of it, or all or some of its inhabitants’. The maximum allowed to be spent per elector in 2017/18 is £7.57. Grants under Section 137 are only available to groups or organisations and any requests for grant funding must comply with the terms and conditions set out in the Council’s Grant Policy (details can be found on the Reports & Policies page). Requests for funding must demonstrate support for or a direct benefit to the residents of the parish (personal applications cannot be considered).