Finance Committee

Below are the minutes and agendas of the Finance Committee as well as information about the work of the committee. Just click on a link to download a document. The committee was set up to allow more time to scrutinise all things financial and to go into greater detail. This allows for more informed decision making in the main meetings which have to work within a time limit. Please contact us if you have any queries or are unable to access the documents.

Agenda

Responsibilities

To review budgets and recommend to the Full Council for approval
To review the precept and recommend to the full council for approval
To regularly monitor budgets v expenditure
To ensure adequate financial controls are in place to protect the Council’s finances and assets – to include insurance of buildings and property and maintenance of asset register
To Review and amend the Council’s Financial Regulations annually and to ensure that the Council is observing the regulations
To monitor and ensure compliance with laid down internal and external audit and other financial procedures, regulations and statutes
To review Council Fees and Charges on a regular basis (at least annually)
To monitor the Council’s financial risk assessments and recommend changes where necessary
To create and monitor a clear policy for grant aid administration
To approve other Committee’s annual spending/budget levels in line with agreed overall budget
Any issue arising of Council expenditure – above that which the Clerk, in conjunction with Chairman of Council or Chairman of Finance Committee, can resolve under £1,000 – should be dealt with by Finance Committee. Items over £5,000 must be referred to Council (section 4, Financial Regulations)
To recommend to the full Council such delegated powers to the Clerk as thought appropriate
To appoint annually the Responsible Financial Officer to oversee the Council’s financial affairs (Normally the Clerk)

Members

Pat Hall (chair)
Mary James
Peter Cox
Louise Milford
Charlie Haynes

Terms of Reference

Authority:
The Finance Committee is appointed by and is solely responsible to the Old Marston Parish Council. The Committee duties are defined and agreed by the Full Council who may vote, at any time, to modify the Committee’s powers. The committee will meet quarterly but can also be convened to deal with special events as they occur.
Membership:
All members of the Committee will be elected Councillors. The Committee will consist of no fewer than four elected Councillors. At the full council’s annual meeting the chairman, and if felt necessary a Vice-Chairman, shall be elected. The chairman, or in his absence the vice-chairman, shall preside at all future committee meetings in that year. A quorum at the Committees meetings will consist of no fewer than three elected members.
Record of Proceedings:
Written minutes will be taken to record the Committee’s decisions and will be circulated to all Councillors with recommendations for the next Full Council meeting. The minutes will be published on the Council’s website and placed on the noticeboard(s). The Parish Clerk will be responsible for arranging the recording and distribution of the minutes.
Responsibilities:
Primary Purpose: To manage the Council’s financial resources and to debate and recommend strategy and action on policy and operational matters concerned with Council’s finances, property, resources, land and manpower.