Accounts
Aylesham Parish Council Finance Committee meet quarterly to undertake an internal audit and a review of the income and expenditure for the current financial year. In November/December the Committee meet to discuss the precept and budget for the next financial year and this proposal is then put to the next Full Council meeting for ratification. Once the Precept has been agreed at Full Council the request must be sent to Dover District Council by the deadline date given for each January.
PRECEPT
The Precept of a Parish Council is an amount of money agreed by the Parish Council for the running of the parish for the next financial year - this is added to each property's council tax.
ACCOUNTS
The Parish Council accounts are entered on a fully authorised software package, specifically aimed at Parish Councils, and this is maintained by the Parish Clerk who is also the Responsible Financial Officer. A breakdown of the monthly income and expenditure together the monthly bank reconciliation is provide to Councillors at the Full Council meeting or as soon after as possible. Expenditure over £100 must be made available for parishioners to view. The Parish Council has a Treasurer Account with Lloyds Bank and an NS&I Investment account.
BUDGET
The budget for the next financial year is discussed and proposed at the November/December Finance Committee meeting. A spreadsheet is provided to all Cllrs at monthly Full Council meetings of the income/expenditure against the budget.
ASSET REGISTER
For auditing purposes an asset register of all property/items owned by the Parish Council needs to be kept and updated at least annually.
STATEMENT OF INTERNAL CONTROL
The Clerk, who is also the Responsible Financial Officer, prepares and end of year statement of the internal control of the Parish Council and this is presented to the Full Council with the end of year accounts as soon as possible after year end.
INTERNAL & EXTERNAL AUDITORS
David Buckett undertakes the yearly internal audit
Mazars LLP undertake the annual external audit