Kirkbymoorside Town Council

Finance Committee - Terms of Reference

  1. To oversee the annual budget process and to liaise and advise other Committees with the setting of their budgets by the council.
  2. To recommend to full council the annual Precept
  3. To be responsible for regular monitoring of the Council’s Budget and reserves position
  4. To be responsible for reporting requests for virements to Town Council
  5. To be responsible for ensuring that the Council’s agreed spending objectives are met
  6. To be responsible for annual reviews of relevant policies and procedures to safeguard the Council’s finances
  7. To regularly review, and recommend to Council where necessary, amendments to the Council's Financial Regulations
  8. To consider, on behalf of Council, responses to auditors' reports
  9. To work with and co-operate with officers in their duties with regard to preparing any financial documentation on behalf of Council
  10. To prepare proposals for the creation and investment of a Cemetery Fund, with an initial contribution from the council's cash reserves and subsequent contributions from the capital element of cemetery charges
  11. Ad-hoc monitoring of expenditure in cost categories.
  12. To ensure that financial procedures are being carried out in accordance with Financial Standing Orders and Financial Regulations
  13. From time to time to make proposals to the Council for any appropriate amendments to the Financial Standing Orders
  14. To ensure items of expenditure that are over £1,000 (or the appropriate limit as amended from time to time in Financial Regulations), that quotes are being sought, and that a tendering process is being applied on items over £20,000 (and as required by Financial Regulations).
  15. To also review a selection of expenditure items below the current limits (items selected as determined by Committee) to confirm good practice is being operated throughout the Council purchasing process.
  16. To implement and review a 3 year rolling budget/forecast.
financecommitteetor.txt · Last modified: 2018/08/28 18:45 (external edit)
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