BLABY PARISH COUNCIL FINANCIAL REGULATIONS

Transcription

1 BLABY PARISH COUNCIL FINANCIAL REGULATIONS 1.0 ANNUAL PRECEPT (BUDGET) 1:1 Total Committee Budgets for the following financial year (commencing 1st April annually) are to be prepared at Committee Meetings annually in October or November. 1:2 Estimates: A Committee wishing to embark on a major project should ask the Manager to obtain appropriate quotes, not later than November annually, in order that the cost (or part cost) can be submitted to the December Full Council meeting for further discussion. If acceptable, the project costs can then be forwarded to the ANNUAL PRECEPT (Budget) MEETING in late January for further consideration. 2.0 STAFF 2:1 Responsible Financial Officer: The Manager is the Council s Responsible Financial Officer. 2:2 Appraisals and Pay & Conditions of Service: The meeting of the Staff Committee in June, July or August must include on the agenda: a) consideration of Pay and Conditions of Service of the Council s employees and whether or not these are to be reviewed and, if so, the method of accomplishment. 2:3 Payment of Salaries: a) The payment of all salaries shall be made in accordance with payroll records and the rules of PAYE and National Insurance currently operating, and salaries shall be as agreed by Council. b) Payment of salaries and payment of deductions from salary such as may be made for tax, national insurance and pension contributions, may be made in accordance with the payroll records and on the appropriate dates, provided that each payment is reported to and ratified by the next available Council Meeting. 3.0 EXPENDITURE 3:1 Committee Budgets: Each Committee has the power to spend its own budget as agreed at the Precept Meeting and such expenditure shall be authorised in retrospect by the next Full Council Meeting. 3:2 Quotations: The Manager will obtain quotations for Committee Budget items as agreed at the Precept Meeting and present these to the Committees for approval and authorisation enabling the Manager to action the expenditure. 3:3 Capital Expenditure: Committees cannot incur expenditure on any new project that was not considered at the Precept Meeting without the approval of the Full Council. 3:4 New & Equipment Replacement Account: The Manager is authorised to replace equipment as necessary from this account. 3:5 Emergency Spending: The Manager, in consultation and approval by a minimum of three of the Council s Chairmen and/or Vice-Chairmen, may incur expenditure in the case of an emergency. In extreme cases an Emergency Meeting of Full Council must authorise a Supplementary Precept if needed. 3:6 Unbudgeted Expenditure: Any unbudgeted expenditure is approved by full council. 1

2 4.0 PAYMENTS 4:1 Cheque Signatories: All cheques must be signed and the accompanying cheque stub initialled by a minimum of two mandated councillors. 4:2 To become mandated, councillors may have to present themselves to the Council s Bank with proof of identity. 4:3 Invoice and Cheques: All invoices and the relevant made-out cheques must be presented to the signatories at the time of signing. 4:4 Certification of Payments: The Council s Responsible Financial Officer shall certify to the correctness of all payments and claims made upon the Council. 4:5 Approval of Payments: Details of all payments made shall be presented to the Full Council at its next appropriate monthly meeting. 4:6 Petty Cash: The Petty Cash Account shall have a limit of 60. Only the Manager and the Administration Clerk, both designated by name, shall be authorised by the Council to cash cheques made out to CASH for this account. The Petty Cash must be kept in a locked drawer or the Council s safe to which only the named Manager and Administration Clerk have a key. 4:7 Direct Debits, BACS Payments & Business Commercial Card: i) Direct Debits: Payments are to be recorded on the monthly account sheet. ii) BACS: Two members shall sign the Cheque or Order for Payment. A list of payments by BACS (Bankers Automated Clearing Services) to be authorised will be presented to Council on the monthly account sheet. The Responsible Financial Officer will then be authorised to make bank payments. iii) Business Commercial Card: The Councils Manager / Responsible Financial Officer (RFO) is to be a signatory on the councils bank account for the purpose of a business commercial card only and is authorised to make payments using this card. No cheques are to be signed by the Manager / RFO. 5.0 BANKING 5:1 Monies Received: All monies and cheques received must be banked as soon as possible. 5:2 Monies Storage: All monies and cheques received must be kept in a lockable Cash Box and kept in the Council s safe until banked. 5:3 Receipts: Receipts must be made out for all monies and cheques received and either sent to the payer or retained in the Receipt Book as preferred. 6.0 AUDIT 6:1 Accounts are kept on an Income and Expenditure basis for Audit and prepared to the standard required by Regulation. 6:2 Summary: The Income and Expenditure Summary must be signed by the Chairman of the Council and the Responsible Financial Officer. 6:3 Records: Records must be prepared covering fixed assets, tenancies and leases, debtors, loans owed by the Council, expenditure incurred on advertising and publicity, Section 137 expenditure, creditors, payments in advance and receipts in advance. 6:4 Balance Sheet: A Balance Sheet must be produced. 6:5 Statement of Accounts: A Notice of Public Rights detailing the Council s 2

3 Statement of Accounts must be displayed in a conspicuous place for fourteen days immediately before the Public Inspection Period of 20 working days (35 working days or six weeks in total). The Notice must detail the place and times at which the Statement of Accounts are made available and must also give the Name and Address of the Auditor. 6:6 Amendments: Any amendments to the Accounts at Audit must be reported to the Council. 6:7 Council Approval: Accounts must be submitted to and approved by the Council by the beginning of June annually. This is to comply with Audit requirements. 6:8 Notice of Conclusion of Audit: Immediately after Certification by the Auditor that the Audit has been completed, the Council must, for fourteen days, display a Notice in a conspicuous place that the Audit has been completed and is available for inspection at the times and place named. 7.0 INTERNAL AUDIT 7:1 Internal Auditor: The Council must appoint an Internal Auditor who is independent of the Council. 7:2 Adequate System: An adequate and effective system of Internal Audit of the accounting records and control systems must be maintained at all times. 7:3 Monthly Accounts: A Monthly Accounts Sheet shall be produced by the Manager or Administration Clerk which monitors Income and Expenditure against Budgets and this to be circulated to the Council members. This must assume no unpresented cheques and show all current bank balances. 8.0 VALUATION OF FIXED ASSETS & DEPRECIATION 8:1 Review of Assets Register: A review of the Council s Assets Register is to be included on the agendas of each Committee within the first three months of the fiscal (public revenue) year. (This commences 1st April annually). 9.0 INSURANCE 9:1 Current Insurance Company: Came & Company, 1st Floor, 45 High Street, Odiham, Hook, Hampshire RG29 1LF Tel: /21 parish.councils@cameandcompany.co.uk 9:2 Insurances Due: These are due for payment annually. 9:3 Insurance Cover: This is adjusted as and when agreed by Council from suggestions by the Council s Insurance Company OR by the Council s Auditor OR upon the purchase of new equipment OR during the work and completion of a new project. 9:4 Fidelity Guarantee: This covers all members and employees against fraud or error and is currently in the sum of 270, BANK 10:1 Council s Bank: HSBC plc, 1 Forge Corner, Blaby, Leicester LE8 4FZ. 3

4 11.0 MISCELLANEOUS 11.1 Contracts: Procedures as to contracts are laid down as follows: (a) Every contract shall comply with these financial regulations, and no exceptions shall be made otherwise than in an emergency provided that these regulations shall not apply to contracts which relate to items (i) to (vi) below: (i) for the supply of gas, electricity, water, sewerage and telephone services; (ii) for specialist services such as are provided by solicitors, accountants, surveyors and planning consultants; (iii) for work to be executed or goods or materials to be supplied which consist of repairs to or parts for existing machinery or equipment or plant; (iv) for work to be executed or goods or materials to be supplied which constitute an extension of an existing contract by the Council; (v) for additional audit work of the external Auditor up to an estimated value of 250 (in excess of this sum the Manager and RFO shall act after consultation with the Chairman and Vice Chairman of Council); (vi) for goods or materials proposed to be purchased which are proprietary articles and/or are only sold at a fixed price. (b) Where it is intended to enter into a contract exceeding 20,000 in value for the supply of goods or materials or for the execution of works or specialist services other than such goods, materials, works or specialist services as are excepted as set out in paragraph (a) the Manager shall invite tenders from at least three firms to be taken from the appropriate approved list. (c) When applications are made to waive financial regulations relating to contracts to enable a price to be negotiated without competition the reason shall be embodied in a recommendation to the Council. (d) Such invitation to tender shall state the general nature of the intended contract and the Manager shall obtain the necessary technical assistance to prepare a specification in appropriate cases. The invitation shall in addition state that tenders must be addressed to the Manager in the ordinary course of post. Each tendering firm shall be supplied with a specifically marked envelope in which the tender is to be sealed and remain sealed until the prescribed date for opening tenders for that contract. (e) All sealed tenders shall be opened at the same time on the prescribed date by the Manager in the presence of at least one member of Council. (f) If less than three tenders are received for contracts above 20,000 or if all the tenders are identical the Council may make such arrangements as it thinks fit for procuring the goods or materials or executing the works. (g) When it is to enter into a contract less than 20,000 in value for the supply of goods or materials or for the execution of works or specialist services other than such goods, materials, works or specialist services as are excepted as set out in paragraph (a) the Manager or RFO shall obtain 3 quotations (priced descriptions of the proposed supply); where the value is below 1,000 and above 100 the Manager or RFO shall strive to obtain 3 estimates. Otherwise, Regulation 10 (3) above shall apply. 4

5 (h) The Council shall not be obliged to accept the lowest or any tender, quote or estimate. 11:2 Sealing of Documents: The Council shall authorise by Resolution the sealing of any document on behalf of the Council. Any two members of the Council may seal a document on behalf of the Council which is required by law to be issued under seal. 11:3 Written Off Amounts: A Resolution of Council is necessary before an account can be written off. 11:4 Mileage Expenses: This is paid to staff for the use of their own vehicle on submission of an expenses claim. It is based on the HMRC rate of 0.45p per mile and is conditional upon the employee having insurance for business use of their vehicle. Adopted 10 th May 2011 Reviewed & Updated Yearly Reviewed August 2016 Updated September