Finance and Governance Committee
To send an enquiry regarding matters for this committee, please email the Town clerk.
This Committee’s terms of reference are below:-
The Finance and Governance Committee shall meet a minimum of six times a year, consist of eight Members, have a quorum of four members, and be delegated to make decisions on behalf of Full Council in relation to:
- review and submit for Full Council’s consideration Standing Orders, Financial Regulations and Terms of Reference,
- review and submit policies and procedures relating to the proper and correct governance of Council,
- make a recommendation to Full Council regarding the setting of the precept in time for its annual budget setting meeting each year,
- prepare and submit for Full Council’s consideration estimates of expenditure and income (budget) for each forthcoming year by the end of November, having had regard to estimates of expenditure approved by the other committees by the end of October, including changes to charges, and update a 5-year forecast of income and expenditure of the Council on continuing services,
- monitor the annual budget of the Council and report to the next Full Council meeting any concerns that the Council may exceed its full year total expenditure budget including a review of debtors and agree necessary action agree variances to the annual estimates where necessary,
- review, maintain and recommend to Full Council annually a financial register of assets and property belonging to the Council,
- authorise the acquisition or disposal of office equipment and assets as required enabling the staff to carry out their duties,
- disposal of office equipment and assets in accordance with the Council’s disposal policy and make recommendations to Full Council for the use of powers to acquire by agreement, to appropriate, to dispose and / or acquire land of an interest in land;
- exercise control over the insurance of its property and liabilities and review cover,
- review and annually recommend to Full Council the payment of the Town Mayor and councillor allowances,
- receive the annual Statement of Audited Accounts and the Reports of both the External and Internal Auditors and make recommendations to Full Council on any actions required,
- review and manage the Council’s risk management strategy and risk assessment and recommend to Full Council,
- review and submit for Full Council’s consideration its system of internal audit,
- ensure that Committees receive up to date financial statements at a minimum on a quarterly basis,
- consider applications for grants and SLAs within a budget previously approved by the Council and to approve subject to the Council’s policy on awarding of grants or SLAs as per Council’s Community Gant Scheme Policy (any over £5,000 are reviewed with a recommendation to Full Council),
- act upon or commission any services as deemed appropriate and in accordance with the annual budget and terms of reference of the Committee, including applying for any external grant funding,
- review and make recommendations to Full Council on the use of General and Ear Marked Reserves, and
- maintain the register of all Town Council property and ensure and maintain its registered title at the Land Registry.
The Committee will be clerked by the Town Clerk (or the Deputy Town Clerk when the Town Clerk is on leave).
2023 Minutes and Agendas
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