===== Kirkbymoorside Town Council =====

==== Finance Committee - Terms of Reference ====

  - To oversee the annual budget process and to liaise and advise other Committees with the setting of their budgets by the council.
  - To recommend to full council the annual Precept
  - To be responsible for regular monitoring of the Council’s Budget and reserves position
  - To be responsible for reporting requests for virements to Town Council
  - To be responsible for ensuring that the Council’s agreed spending objectives are met
  - To be responsible for annual reviews of relevant policies and procedures to safeguard the Council’s finances
  - To regularly review, and recommend to Council where necessary, amendments to the Council's Financial Regulations
  - To consider, on behalf of Council, responses to auditors' reports 
  - To work with and co-operate with officers in their duties with regard to preparing any financial documentation on behalf of Council
  - 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
  - Ad-hoc monitoring of expenditure in cost categories.
  - To ensure that financial procedures are being carried out in accordance with Financial Standing Orders and Financial Regulations
  - From time to time to make proposals to the Council for any appropriate amendments to the Financial Standing Orders
  - 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). 
  - 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.
  - To implement and review a 3 year rolling budget/forecast.