Leicestershire Parish Councils

FINANCE AND GENERAL COMMITTEE
TERMS OF REFERENCE

Aim: To effectively streamline the financial control of Kibworth Beauchamp Parish Council (KBPC) ensuring the continuation of best value for KBPC and the community it serves.

Terms:

The committee shall consist of four Councillors as elected/agreed by KBPC

The committee will meet on a monthly basis ideally one week prior to the main council meeting in order that anything that requires full council discussion can be placed on the agenda.
The committee shall be responsible for over-seeing all items of financial importance to KBPC as detailed below. However, this list is not exhaustive, and items will be referred to the committee as and when KBPC see fit.

The committee shall have authority to approve all items of expenditure up to and including £549.99. All items of £550.00 and over are to be referred to full council with research for discussion and approval.

The committee shall where necessary instruct the Parish Clerk to
establish any available grants or match-funding to assist in the financing of projects.

All financial administration and associated records will remain the responsibility of the Parish Clerk.

As a general committee the group will also review the Standing Orders on an annual basis making recommendations to the main council for discussion as necessary.

Responsible for over-seeing:

1. Annual contract renewal for the traffic island and Melbourne Close
2. Annual review of Financial Regulations
3. Ongoing risk assessment
4. Annual review of budgets and make necessary recommendations the main council
5. Review of insurance policies, including the review of the cover and costs
6. Annual review of the asset register and annual check of KBPC assets
7. Review and approve quotations for repairs/graffiti removal
8. Review and recommendation of precept
9. Review of subscriptions
10. Review and recommendation of end of year returns for the external auditors
11. Approval of cheques
12. Approval purchase of office equipment
13. Annual review of bank mandate
14. To make recommendations to full Council on personnel matters including review of Clerk’s contract
15. Correspondence received relating to items above