Finance Committee Terms of Reference
July 2026 Update
| Membership | Four (4) members (Councillors only) and the Clerk, as Responsible Finance Officer, will also sit on this Committee |
| Quorum | Three (3) members |
| Chairperson | This will be the Vice Chair of the full Council |
| Administrative Support | This will be provided by the Clerk |
| Purpose of the Committee | The purpose of the group is to make recommendations to the Full Council on matters relating to Council finance, audit and compliance with relevant legislation. |
| Scope of the Committee | The Committee has no authority to make decisions or commitments on behalf of the Parish Council, nor does it have any budget or financial authority. All recommendations must be ratified by the full Council. The Council’s Code of Conduct apply to this Group |
| Roles and Responsibilities | Draft the annual budget and precept in time for approval at the full council meeting in January as per council Financial Regulations. Review reserves. Review asset register and insurance provision. Review the Council’s banking arrangements. Internal control including review of effectiveness of internal audit and internal controls. A member other than the Chair or an authorised bank signatory, will be appointed to review / verify and countersign bank reconciliations, produced be the Clerk for all accounts.Review Council projects requiring grant and match funding from a budgetary perspective. To deal with any other finance related matters that a meeting of the full Council considers appropriate to be referred to the Finance Committee |
| Meetings | Meetings will be held as required. A budget-setting meeting will always be held in December, with recommendations brought to the January full Parish Council meeting.Correspondence between meetings to update on progress of actions may occur via email. |
| Reporting | The Committee will report their recommendations to the full council for approval. |
| Review of Terms of Reference | The Committee Terms of Reference and members will be reviewed annually. |
| Date of Last Review | 7th July 2026 |
| Minute Reference | 262752/E |
| Membership | |
| Cllr. Richardson | Chair |
| Cllr. Burrows | |
| Cllr. Roydhouse | |
| Cllr. Stross |