Financial Information

Financial Regulations

Welford Parish Council Budget 2020/2021

The following budget was prepared by the Clerk/RFO and was approved by full Council in January 2020 for the financial year commencing 1st April 2020.

Welford Parish Council Internal Control Checks

Asset Register

Contracts

Welford Parish Council hold contracts for grass cutting during this financial year as follows:

Grass Cutting 2020

The contract for Grass Cutting is held with R & G Grounds Maintenance for the 2020 grass cutting season and is the second year of a three year contract.

The Contract value is for £9k which consists of 15 cuts during the grass cutting season of all open spaces within the Parish Council's remit. There will also be two leaf blowing collections in autumn.

Urban Highway Grass Mowing 2020

Welford Parish Council receive an annual agency grant of £520 towards grass cutting costs of the A5199 Northampton Road within the Parish Council's jurisdiction, on behalf of Northamptonshire County Council.

Welford Parish Council Audit

The annual audit process is a formal external assessment of the Council's spending for each financial year, along with internal control and management of its business, with the most recent being year ended 31st March 2019. The next audit process will commence on 1st April 2020 for year ending 31st March 2020.

It is a two step process with the first step being the Internal Audit which is performed by Northants CALC and takes place annually between March and June. The second and final step is via the External Audit, which is performed by PKF Littlejohn and takes place annually between June and September. The conclusion of audit is then published on the Parish Council website from September onwards.

The audit process for year ended 31st March 2019 has now concluded. All documentation pertaining to this is below for your review and download should you wish, under the Annual Audit Archive folder.

All documentation for year ending 31st March 2020 will be uploaded from April 2020 onwards (subject to any delays as a result of the Coronavirus restrictions). Please check back for updates in the coming months.

Exercise of Public Rights

Pursuant to the Accounts and Audit Regulations 2015, members of the public are able to request to review any documentation pertaining to the finances of the council and the audit process.

The official Notice of Public Rights will be uploaded during April/May, with pages 2 and 3 outlining the audit process and the public's rights to view documentation at the appropriate time.

All documents pertaining to the 2020 audit process, for year ending 31st March 2020, will be uploaded between 1st April and 30th May. Please check back in the coming months for updates.

This is the Parish Council's most up to date and comprehensive list of all of its assets and community assets.

Local councils must maintain an asset register to ensure fixed assets are appropriately safeguarded. Once recorded on the Asset Register at acquisition cost, the value of assets must not change from year to year until disposal. Concepts of depreciation and impairment adjustments are not appropriate for local councils.

The Register is confirmed by the Council at the end of each financial year but is a working document over the following financial year, during which Council Officers will update and amend details as necessary.

The definition of fixed assets are property and equipment with a useful life of more than one year used by the Council to deliver its services.

A Fixed Asset Register has four main purposes:
A) It forms a basis for completion of box 9 in the 'Annual Return.'

B) It forms a basis for decisions on risk and insurance issues.

C) It provides information on the age and potential lifespan of certain items.

D) It provides assurance of the continued existence of Council's property.

Welford Parish Council Audit 2019/20

Welford Parish Council Audit 2018/19