Finance and Audit
 

    Details of the Parish Council Accounts and Estimates will appear on this page.

    The NOTICE OF PUBLIC RIGHTS AND PUBLICATION OF UNAUDITED ANNUAL GOVERNANCE & ACCOUNTABILITY RETURN ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2018 can be found here

    The monthly Finance Report detailing expenditure for the last 12 months can be found at the bottom of the page.

    The 2016/17 Audit Files have been added. See the bottom of the page.

    At the meeting on 8th January 2018 Councillors voted on the Precept for 2018/19. The Precept was increased to £25000 which approximates to £42 a year for a Band D property. 

    The rationale for the increase is set out in the Minutes as follows. 

    142.2 Precept 2018/19

    Councillors reflected on the continued cuts to local authorities and the uncertainty of future funding from the new merged District Council which is likely to be created on 1st April 2019. Given that the main objective of the merger is to save money and reduce budget gaps Councillors were very concerned that more services would be “cascaded” down and present grant levels reduced. Additionally, the Council wants to commission a Housing Needs survey to help inform future local planning, redevelop the Fore Street toilets and have money available for local grants. After some discussion Mr Jenkins proposed that the Council increase the Precept by £5000 to £25000. This was seconded by Mr Phelps and passed unanimously on a vote.


    The Clerk had provided Estimates (attached below) which showed that the Council was likely to spend approximately £25000 in the coming year. The Estimates for 2017/18 are in the list below.


    Milverton Parish Council Financial Management

    The Parish Council meets monthly and signs off expenditure from the previous month. All payments are by cheque with three signatures required.

    Monthly reports are published in the minutes and below.

    The Council reviews its expenditure against budget quarterly.

    At its December and January meetings the Parish Council considers its Estimates in order to set a precept for the following year.


    The Accounts and Audit Regulations 2015 (SI 2015 No. 234)

    The Local Audit and Accountability Act 2014

    Under the provisions of these Regulations the Council is obliged to publish the following documents on a website that is publicly accessible free of charge:

    • Details of all items of expenditure over £100. These are detailed in the monthly Finance Reports (see below). Full reports for the last complete Financial Year are incorporated in the relevant Account Book. Earlier reports can be obtained on application to the Clerk.
    • End of Year Accounts, Annual Governance Statement & Internal Audit Report. These are incorporated in the Annual Return (below). Previous reports can be obtained on application to the Clerk.
    • The end of year Bank Reconciliation (See below)
    • An explanation of significant variations and differences between the balances carried forward and short term investments. These figures are in the Annual return and the explanation is set out in the letter to Grant Thornton (below).

    The accounts for 2016/17 have been formally signed of by the Council's Auditor, Mr Nigel Morris and the Parish Council. They have been approved by the external auditor Grant Thornton. The account Book, the Annual Return and the Balance Sheet are listed below.

    Notices confirming the start and completion of the audit are posted on the Parish Council Notice Board at Woodbarton.


     

     

     


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