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THE PRECEPT

The Council’s principal source of income comes from the “Precept” which it levies on the County Council each year. In November, the Council prepares a budget for the forthcoming financial year (1st April – 31st March). It then decides on an amount (the Precept) which is calculated to cover planned and expected expenditure. The County Council is subsequently notified of the amount. The precept is then collected via the Council Tax. Other sources of income in the form of various grants are obtained to cover the costs of special projects.

FINANCIAL REGULATIONS

Financial Regulations - adopted by the Parish Council on 14 August 2024.

These Financial Regulations govern the conduct of financial management by the Council and may only be amended or varied by resolution of the Council. It is the duty of the Council to review the Financial Regulations of the Council from time to time.

The Clerk has been appointed as the Responsible Financial Officer to administer the Council’s financial affairs in accordance with proper practices.

INVESTMENT STRATEGY

Investment Strategy – adopted by the Parish Council on 11 October 2023

This Strategy sets out how the Council will achieve prudent management of cash balances alongside its duty to manage daily revenue expenditure and any affordable capital expenditure plans.

AUDIT

The Parish Council must deal with its accounts in accordance with Local Audit and Accountability Act 2014, the Accounts and Audit Regulations 2015 and the NAO’s Code of Audit Practice 2015.

Each year, Smaller Authorities are required to conduct a review of the effectiveness of the systems of internal and prepare an Annual Governance and Accountability Return (AGAR) following the guidance in Governance and Accountability for Smaller Authorities - a Practitioners' Guide to Proper Practices.

The appointed external auditor is:

PKF Littlejohn LLP (Ref: SBA Team)

15 Westferry Circus

Canary Wharf

London

E14 4HD

YEAR END 31 MARCH 2024

Audit Conclusion 2023/24

Annual Internal Audit Report

Section 1 & Section 2 - Annual Governance Statement & Accounting Statement

Notice of Public Rights and Publication of Unaudited AGAR

Variance Report