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Finance & Admin Committee

Terms of Reference

  1. Ensuring that sufficient funds are kept for Town Council’s operations.
  2. To regulate and administer the Town Councils Financial Rules governing the allocation and use of the Council funds.
  3. To oversee the preparation of the Annual Budget and Annual Accounts.
  4. To develop accounting policies for the preparation of financial statements and presentations of disclosures, and ensuring conformity with standard accounting principles.
  5. To oversee the financial performance of the Town Council including :
    1. Investment of funds of the Council and monitoring of returns on investment.
    2. Arrears management – monitoring arrears situation, establishing arrears management guidelines/standards, evaluating appeals and recommending write-off.
  6. To review s&cc rates, penalty charges and administrative fees.