To oversee the annual budget process and to liaise and advise other Committees with the setting of their budgets and to recommend to full council the annual precept
- The Committee shall call a minimum of 4 meetings per year
- 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 financial 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
- To review the Aylesbury Special Expenses budget prepared by AVDC and make recommendations for Council’s response to these.
- Ad-hoc monitoring of expenditure in cost categories
- To ensure that financial procedures are being carried out in accordance with Financial Regulations
- To ensure items of expenditure that are over £7,500 (or the appropriate limit as amended from time to time in Financial Regulations), that quotes are being sought, and that a tendering 30 July 2013 process is being applied on items over £65,000 (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.
- To review the Committee Terms of Reference on an annual basis