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Finance and Administration Committee

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Information about Finance and Administration Committee

Terms of Reference

 

The Finance and Administration Committee manages the Town Council’s budgets to ensure all expenditure is authorised where necessary and income is collected. The Committee also holds responsibility for all Grants issued and policy matters.

 

1.         Membership - Nine elected Members.

 

2.         Delegated Business

 

The Committee has delegated authority to deal with the following matters to conclusion:

 

2.1.      All financial matters which have been delegated by Council

2.2.      Monthly Management Accounts

2.3.      To receive reports of paid invoices for goods and services

2.4.      Draft budget for submission to Full Council for decision

2.5.      To set up such Sub-Committees and Working Groups as necessary

2.6.      Specific matters referred by the Town Council

2.7.      Allocation of grants within the agreed criteria and budget of the Town Council

2.8.      Agree and manage maintenance contracts and budgets for all services

2.9.      To act as a Tender Committee as and when necessary and to report the outcome of any tendering procedure to Full Council

2.10.    Receive updates /amendments to Policy Documents, Standing Orders, Financial Regulations and Terms of Reference from the Town Clerk for consideration and onward approval by Full Council. This includes all necessary legislation updates

2.11.    Monitor and report on the performance of the Town Council in meeting the objectives set out in its Corporate Plan

2.12.    Receive petitions and deputations from members of the public or any organisation.

 

3.         Referred Business

 

The Committee will consider and make recommendations to the Town Council on the following matters:

 

3.1.      All matters of policy

3.2.      Budget estimates to be prepared no later than November each year

3.3.      Review the performance of the Town Council in meeting its obligations, Corporate Plan and internal objectives on a quarterly basis

3.4.      Review Income and Expenditure within the Budget estimates approved by the Town Council and make necessary recommendations on a quarterly basis.

3.5.      Any other matters referred to the Committee by the Town Council which is not otherwise within the Finance and Administration Terms of Reference