COUNCIL MEETING 10 AUGUST 2023
REVIEW OF COUNCIL POLICIES – FINANCIAL REGULATIONS

1. The Council’s Financial Regulations were last approved and adopted on 11 November
2021. They are based on a national model published by the National Association of Local
Councils with various minor amendments to have regard to the Council’s practice and
procedures.

2. The Financial Regulations have been reviewed by the Vice-Chairman and the Clerk who
consider them to be both sound and comprehensive. Even so, in some respects a measure
of updating would be beneficial and the reviewers have sought to line them up more
particularly with current good practice and to remove some of the requirements which are
considered unnecessary in the modern age. A version of the current Financial Regulations
with track changes is attached together with explanations for those changes.

3. It is RECOMMENDED that the Financial Regulations as amended be approved and
adopted.

Graham White
Parish Clerk
1 August 2023

TRACK CHANGES

2.2 Bank reconciliation statements are submitted to Council on a
monthly basis and it is unnecessary for a member to sign the
reconciliation statements or the bank statements. The latter are
available for members’ inspection at any time.

As the reconciliation statements are reported to Council with
regularity and duly noted, there is no need to offer the finance
committee as an alternative.

4.4 The requirement to evidence salary reviews by way of a hard copy
schedule signed by the Clerk and the Chairman is a practice from a
bygone age which is unnecessary and serves no useful purpose.

5.2 Similarly, the requirement for the monthly schedule of payments to
be ruled off and initialled by the Chairman of the Council meeting.

5.5 A typographical error and three instances of the ‘finance committee’
being properly named.

5.6 As 5.5 above

6.4 On the previous review ‘Bank transfers’ (the most common form of
payment) was added to ‘Cheques or orders for payment’ but that
addition does not make sense in that such transfers cannot be

presented for signature by bank signatories as can cheques. The
amendment reverts to the previous wording.

6.6 As 6.4 above

6.7 Direct debits are used for some regular payments, notably utilities,
as they attract discounts on some occasions and are easier to
manage both for the supplier and the Council. Specific authorisation
evidenced by signed instructions is impractical and unnecessary.
The Clerk/RFO is authorised annually to make regular payments,
the manner of which is left to him.

6.9 As 6.7 above but in respect of bank transfers. An audit trail is
maintained for every electronic payment made.

6.18 The single transaction restriction placed on the Clerk for use of the
debit card is too low and needs to be increased.

7.4 The Council has never maintained a confidential cash book for
employees and always published payments to employees. This
practice should continue and thus the regulation should be deleted.
(the approved document will be re-numbered as necessary
following deletions)
8.1 A typo in a national document which is appears that no-one has
spotted – ‘affected’ should be ‘effected.’

8.2 No need for reference to the Welsh Assembly

8.3 Similarly, there is no need for separate bank statements to be sent
to the Chairman of the Council. All bank statements are available for
inspection in the Parish Office.

9.3 This regulation has been tightened up to provide that the Burial
Grounds committee must review cemetery fees (the greatest source
of income, save for the precept and grants) annually.

11.1(b) Threshold increased

11.1(c) Two typographical errors.

11.1(h) Threshold increased

Footnotes Thresholds increased