Bishops Itchington Parish Council

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Finance

Information about the council's budgets,financial statements and the latest annual return can be downloaded from this page.

Annual Budget & Precept

The financial year runs from 1 April to 31 March. The council begins its budget process in November each year. The budget takes account of repairs and maintenance work to be carried out, any capital expenditure and inflation. Each item of expenditure is examined and a calculation is made as to the expected cost of that item in the forthcoming financial year. Unspent funds at the end of the current year are also taken into account when working out the precept. The precept is the level of funding paid to the parish council by Stratford District Council and is raised from the council tax paid by local residents.

All items of expenditure are listed in the budget document which is available to download from this page. The precept for the current year, 2017/18, is £84,000.

Audit & Annual Return

The parish council has a system of internal audit. As well as a comprehensive risk assessment, there is an appointed internal auditor who tests the council's systems and conducts an audit trail of financial transactions. In addition to this, an external auditor also examines the council's accounts and practices. The annual audit documents for 2017, which include the notice of public rights of inspection, the notice of conclusion of audit and the external auditor's certificate are available to download from this page.

Monthly Accounts Payable & Financial Reports

The council pays its accounts monthly and these are authorised by the council at its monthly meeting. At the same time, members are provided with a report on actual expenditure to date versus budgeted expenditure. Copies of these reports are included in the minutes of the meeting and can be downloaded from the "Minutes" page.

Financial Regulations

A copy of the council's financial regulations can be found on the right of this page. This document sets out how the council should manage its financial activities, including quotes and contracts, and the signing of cheques etc.

Community Grants

The parish council sets aside funds each year for grants to community organisations. Full details of who is eligible and how to apply can be found in the grants policy document at the right of this page. Applications are considered bi-monthly at the parish council meetings held in May, July, September, November, January and March. Please submit your application well in advance of the parish council meeting and ensure that you have included all the relevant supporting information.





Printed 17 November 2017 at 21:26 hrs by 54.225.16.10