Financial Information

On this page you will find information and documents relating to the financial affairs of the Parish Council, such as:

• Constitutional Documents - Standing Orders & Financial Regulations
• Risk Assessments
• Precept & Budget
• Annual Audits
• Asset Register
• Grants & Donations
• Annual Contracts
• CIL (Community Infrastructure Levy)

Audits

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.

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 began in April and has now concluded. All documentation pertaining to this is below for your review and download should you wish, can be found in the Annual Audit Folder (below)

All documentation for the year ending 31 March 2020 will be uploaded from April 2020 onwards. 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 period for the Exercise of Public Rights for the year ended 31 March 2020 will be added to the website after April 2020.

The official Notice of Public Rights will be uploaded during April/May, which will include an outline of the audit process and the dates of the public's right to view the documentation

Precept & Budget

The 20/21 budget was approved by Council in January 2020 for the financial year commencing 1st April 2020.

The precept was set at £34,722, an increase of £3,166 (10.1%) on the 2019/20 year.

Please peruse the attached Budget/Precept Report for a full breakdown of the 2020/21 budget.

The latest quarterly Expenditure v Budget is also included

Grants & Donations

The page is currently under construction, please come back again soon.

Financial Regulations & Risk Assessment

The Standing Orders are the Parish Council's constitution and outline the principles by which the Parish Council is governed

Standing Orders

Assets

This is the Parish Council's list of all of its 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.

Projects

Please visit this area of our website for any financial reports concerning recent or current projects.

At the moment we do not have any "live" projects

CIL (Community Infrastructure Levy)

Amendments have been made to the 2010 Community Infrastructure Levy (CIL) Regulation that require the District Council to pass a proportion of CIL receipts collected from developments in their areas, directly to Parish and Town councils to be spent on infrastructure or anything else that is concerned with addressing the demands that development places on an area.

The District Council will pass accumulated funds to the parish every 6 months, and the Parish Council will be required to report on receipts and expenditure each year.

The District Council is required to pass 15% of CIL receipts to relevant Parish and Town Councils arising from developments in their areas. This rises to 25% in areas with an adopted Neighbourhood Development Plan. Newnham does not have a Neighbourhood Development Plan.

Please see the attached report which outlines the CIL payments Newnham Parish Council have received from Daventry District Council.

Public Works Loan Board

The Public Works Loan Board (PWLB) is a statutory body operating within the United Kingdom Debt Management Office, an Executive Agency of HM Treasury.

PWLB's function is to lend money from the National Loans Fund to local authorities, and to collect the repayments.

Newnham Parish Council does not currently have any loans with the Public Works Loan Board.

Contracts

Grass Cutting 2020

Newnham Parish Council holds one contract, for grass cutting

The contract for Grass Cutting is held with W S Gardens Ltd, which will run for the 2020 grass cutting season and will be reviewed again during the budget process later this year.

The Contract value is for £5,600 which consists of 16 cuts during the grass cutting season.

Please see the grass cutting schedule for the area and frequency of the mowing/strimming