The Council's finances are regularly reviewed and form part of the agenda of every council meeting. At the end of the financial year the Council prepares the Annual Return which is audited by an internal auditor and a government appointed external auditor. The Annual Return can be downloaded below.
The Council prepares a yearly budget on which the precept is based. The budget can be downloaded below along with the Finance Report.
The Local Audit and Accountability Act 2014 sets out the new audit framework for local public authorities. Under the new audit framework smaller authorities, including parish councils, with an annual turnover not exceeding £25,000 will be exempt from routine external audit from 1 April 2017. Instead smaller authorities must comply with the transparency requirements laid out in The Smaller Authorities Transparency Code 2015.
The Transparency Code requires smaller authorities to publish:
- all items of expenditure above £100
- end of year accounts
- annual governance statement
- internal audit report
- list of councillor or member responsibilities
- the details of public land and building assets
- Minutes, agendas and meeting papers of formal meetings.
Despite being exempt from an external audit an auditor must be available to deal with questions and objections to the smaller authority's accounts from an elector. If an
elector has a question or objection he/she must contact the relevant audit appointing body who will then assign an auditor to deal with their question or objection.
Great Bedwyn Parish Council turnover is forecast to exceed £25,000 during 17/18 and 18/19.
The Council's Finance Committee meets regularly throughout the year. The Committee is responsible for reviewing the Council's finances, including preparing the annual budget and recommending the precept to Full Council and monitoring council expenditure throughout the year. The meeting dates and agendas will be published on the Parish noticeboard.
Great Bedwyn Parish Council sets a budget each year for the award of grants to local community organisations. Applications for grants must be sent to the clerk.