2026 Minutes (Finance Committee)

1. We have put in place arrangements for effective financial management during the year, and for the preparation of the accounting statements.

• Was the budget prepared in a timely manner before setting the precept and before the start of the new financial year? 
• Has the budget been periodically reviewed and has any corrective action been taken?
• Have you appointed a RFO per Section 151 of the Local Government Act 1972?
• Are there effective procedures in place to ensure that financial transactions are recorded promptly and accurately (cashbook)?
• Are the accounting records maintained throughout the year with supporting documentation (Regulation 4 of the Accounts and Audit Regulations 2025) i.e. bank statements and invoices.
• Are bank reconciliations prepared and reviewed by Councillors periodically and at year end?
• Are there arrangements in place to ensure that year end accounts are prepared in a timely manner per statutory obligations and proper practices. 
• Does the Parish Council have a general reserves policy? 

2. We maintained an adequate system of internal control including measures designed to prevent and detect fraud and corruption and reviewed its effectiveness.

• Are Standing Orders and Financial Regulations (are the financial controls embedded in Standing Orders and Financial Regulations, Section 150(5) of the Local Government Act 1972) in place?
• Are there arrangements in place for the safeguarding of public money (policies and procedures and arrangements including dual authorisation)?
• Does the Parish Council regularly review the effectiveness of arrangements to protect money?
• Has the Parish Council reviewed the setting up or any changes to bank accounts (including a review of bank mandates)?
• Are there controls in place in relation to debit/credit cards?
• Does the Parish Council have a risk assessment/risk register?
• Has the RFO received adequate training?
• Are there robust payroll arrangements in place?
• Are there any loans and long-term liabilities?
• Is the VAT 126 completed and submitted in a timely manner?
• Is there an up to date asset register for fixed assets?
• Are the internal controls effective per Regulation 6 of the Accounts and Audit Regulation 2015?

3. We took all reasonable steps to assure ourselves that there are no matters of actual or potential non-compliance with laws, regulations and Proper Practices that could have significant financial effect on the ability of the authority to conduct its business or manage its finances.

• Has the Parish Council acted within its powers, within laws, regulations and proper practices?
• Are there procedures in place to ensure compliance with statutory regulations and proper practices?

4. We provided proper opportunity during the year for the exercise of electors’ rights in accordance with the requirements of the Accounts and Audit Regulations.

• Did the authority provide for the exercise of public rights as set out in Section 26 and 27 of the Local Audit and Accountability Act 2014 & Part 5 of the Accounts and Audit Regulations 2015.
• Has the External Auditor’s Review along with any relevant accompanying information been published, including on the website per Regulation 16 of the Accounts and Audit Regulations 2015.

5. We carried out an assessment of the risk facing this authority and took appropriate steps to manage those risks, including the introduction of internal controls and/or external insurance cover where required.

• Has the Parish Council identified, assessed and recorded risks associated with actions and decisions it has taken throughout the financial year including reputational consequences?
• Are appropriate measures in place to mitigate and manage risk including insurance cover?

6. We maintained throughout the year an adequate and effective system of internal audit of the accounting records and control systems.

• Has the Parish Council appointed an independent and competent person to undertake the internal audit and facilitated the process? Family members or close associates are not considered to be independent.
• Has the Parish Council published the Internal Auditors report?

7. We took appropriate action on all matters raised in reports from internal and external audit.

• Has the Parish council considered the matters raised in reports from internal and external audit and taken corrective action as appropriate? 

8. We considered whether any litigation, liabilities or commitments, events or transactions, occurring either during of after the year-end, have a financial impact on this authority and, where appropriate, have included them in the accounting statements.

• Has the authority considered if any events that occurred during the financial year have consequences or potential consequences on the authority’s finances?

9. The Council is the sole managing trustee and has discharged its accountability responsibilities for the fund(s)/assets, including financial reporting and, if required, independent examination or audit.

• Sole Managing Trustees – Not applicable.

10. Digital and data compliance

• Email management (authority owned domain).
• Website compliance including a review of the accessibility statement per the Web Content Accessibility Guidelines 2.2 AA and the Public Sector Bodies Accessibility Regulation 2018, Freedom of Information Act 2000 and the Transparency Code for Smaller Authorities.
• Compliance with GDPR 2016 and the DPA 2018 (training).
• Has an IT Policy been adopted?