Membership
The Committee shall consist of up to nine Councillors, excluding ex officio members. The Chairman shall be an ex officio member. It is desirable that there is representation from each Ward. Non-councillors may be co-opted where expert advice is needed (not to exceed the number of members minus 1).
Meetings
The Committee meet every other month unless there is no business to be transacted.
Quorum
Minimum of 3 or one third of the committee.
Purpose of the Committee
To oversee the administration of all matters relating to Council finance, audit and compliance with legislation.
Aims & Objectives
Aims and objectives . The role of the Committee is to consider and approve issues relating to:
- the administration of the council’s financial affairs
- fixed assets/asset management
- internal controls including review of effectiveness of internal audit and internal controls
- virements between revenue budgets
- charges or fees associated with council facilities
- tendering, contract and purchasing arrangements in line with council Financial Regulations
- awards of grants to local organisations
- receipts of committee proposals for inclusion in the forthcoming annual budget
- authorisation for payment of council invoices
The Committee will consider and make recommendations to the full council on:
- draft of the annual budget and precept amount in time for approval at the full council meeting in January as per council Financial Regulations
- any review or amendments of Financial Regulations, StandingOrders or Terms of Reference relevant to this committee
- any financial borrowing or loans
- any use of financial reserves
- proposals for inclusion in the capital works programme
Delegated Powers & Authority
The Council has delegated responsibility to the Finance Committee. All decisions made by the Finance Committee to be reported to the full Council for noting or agreement.
Reviewed and Adopted
Signed…………………………………………………………………………………..
Sheila Beilby, Chairman, Finance Legal Health & Safety Committee
Approved at Full Council 14th June 2022
Signed ……………………………………………………………………………………….
David Salter, Chairman