Finance and audit
Financial Information 2022/23
The following documents will be uploaded upon the completion of the Internal Audit:
Once the External Auditors PKF Littlejohn LLP have completed the Audit process the following documents will be uploaded:
Section 3 The 2022/23 External Audit Final report
Notice of Conclusion of Audit
Financial Information 2021/22
The following documents will be uploaded upon the completion of the Internal Audit:
Once the External Auditors PKF Littlejohn LLP have completed the Audit process the following documents will be uploaded:
Financial Information 2020/21
The Notice of Public Rights and Publication of Unaudited Annual Governance & Accountability Return for the year ended 31 March 2021 can be found here
Sections 1 and 2 of the Annual Governance and Accountability return before 1st July 2021 can be found here
The External Auditors PKF Littlejohn LLP have now completed the Audit process and the documents are below along with the Conclusion Notice.
Section 3 The 2020/21 External Audit Final report can be found here
Notice of Conclusion of Audit is here
A summary of the Accounts for 2020/21 is here
At the meeting on 7th January 2019 Councillors voted on the Precept for 2019/20. The Precept was increased to £26000 which approximates to £42.50 a year for a Band D property.
The rationale for the increase is set out in the Minutes as follows.
137.2 Precept 2019/20
The Clerk reported progress and anticipated expenditure against the 2018/19 Work Plan and set out estimates for 2019/20.
In the next Financial year the Council is proposing
to refurbish the toilets (estimated cost £20000)
install an emergency generator for the Victoria Rooms (estimated cost £2050)
make an annual donation of £500 to Wiveliscombe Library
cover the cost of an election (£800)
offer grant aid to the Recreation Ground (£2250)
At the moment these projects would be part funded by the TDBC dowry payment (for the toilets £10500) and the CRISP grant for the generator (c£1300).
If the Precept where to stay the same the Council would run an estimated deficit of £17,000 in 2019/20 to cover all these commitments. However this would still leave reserves of £24500.
Councillors discussed and agreed that the toilet refurbishment should be capped at £20,000. With the reserve fund predicted to be a years Precept Councillors agreed to follow the current inflation of 3-4% and increase the Precept by £1,000 to £26,000. This was proposed by Mr Jenkins and Seconded by Mrs Richardson and passed 10-0-1
The Parish Council CIL Report can be found here for the year 2018/19
The Council's External Auditor PKF Littlejohn has signed off the 2017/18 Audit. The relevant papers can be found here
At the meeting on 8th January 2018 Councillors voted on the Precept for 2018/19. The Precept was increased to £25000 which approximates to £42 a year for a Band D property.
The rationale for the increase is set out in the Minutes as follows.
142.2 Precept 2018/19
Councillors reflected on the continued cuts to local authorities and the uncertainty of future funding from the new merged District Council which is likely to be created on 1st April 2019. Given that the main objective of the merger is to save money and reduce budget gaps Councillors were very concerned that more services would be “cascaded” down and present grant levels reduced. Additionally, the Council wants to commission a Housing Needs survey to help inform future local planning, redevelop the Fore Street toilets and have money available for local grants. After some discussion Mr Jenkins proposed that the Council increase the Precept by £5000 to £25000. This was seconded by Mr Phelps and passed unanimously on a vote.
The Clerk had provided Estimates (attached below) which showed that the Council was likely to spend approximately £25000 in the coming year. The Estimates for 2017/18 are in the list below.
Milverton Parish Council Financial Management
The Parish Council meets monthly and signs off expenditure from the previous month. All payments are by cheque with three signatures required.
Monthly reports are published in the minutes and full details are below.
The Council reviews its expenditure against budget quarterly.
At its December and January meetings the Parish Council considers its Estimates in order to set a precept for the following year.
Details of Parish Council monthly expenditure can be found by following the links below:
Earlier details are in the list on monthly reports at the bottom of the page.
The Accounts and Audit Regulations 2015 (SI 2015 No. 234)
The Local Audit and Accountability Act 2014
Under the provisions of these Regulations the Council is obliged to publish the following documents on a website that is publicly accessible free of charge:
Details of all items of expenditure over £100. These are detailed in the monthly Finance Reports (see below). Full reports for the last complete Financial Year are incorporated in the relevant Account Book. Earlier reports can be obtained on application to the Clerk.
End of Year Accounts, Annual Governance Statement & Internal Audit Report. These are incorporated in the Annual Return (below). Previous reports can be obtained on application to the Clerk.
The end of year Bank Reconciliation (See below)
An explanation of significant variations and differences between the balances carried forward and short term investments. These figures are in the Annual return and the explanation is set out in the letter to Grant Thornton (below).
The accounts for 2017/18 have been formally signed of by the Council's Auditor, Mr Nigel Morris and the Parish Council. They are with the external auditor PKF Littlejohn for approval. The account Book, the Annual Return and the Balance Sheet will be listed below when the accounts are signed off..
Notices confirming the start and completion of the audit are posted on the Parish Council Notice Board at Woodbarton.