Terms of Reference 2024/25 Finance & Policy Committee (F&P)
(A pdf copy of this policy is available for download here.)
Introduction
St Stephen in Brannel Parish Council appoints Committees to carry out specific duties on its behalf. All Committees must comply with the Council’s Standing Orders and Financial Regulations.
This document sets out the remit, powers, and procedures for the Finance & Policy Committee (F&P).
Committee Overview
Remit: Oversight of Council finance and policy administration, working within delegated budget and authority.
Composition: Seven (7) Elected members (Voting)
Two (2) Substitute members (Voting)
Note: All Councillors not elected to the Finance & Policy Committee may attend public sessions and participate in the meeting but have no voting rights.
Quorum: Four (4) members
Chairmanship: Chairman and Vice-Chairman to be elected by the members at the first committee meeting held in each Council year.
Meetings: 4 times a year (Quarterly). In the event of an item of urgency, an extra ordinary meeting can be called in line with legislation and Council’s adopted standing orders.
Timing: 6.30pm
Venue: The Brannel Room, 22 Fore Street, St Stephen, PL26 7NN
Reports to: Full Council.
Administration: Parish Council Office
Term of Appointment: 1 year
Legal & Governance Framework
The Committee operates under the following legislation and policy documents (non-exhaustive):
- Governance and Accountability for Smaller Authorities in England: A Practitioners’ Guide to Proper Practices to be applied in the preparation of statutory annual accounts and governance statements (2025)
- Finance Act 2019
- Data Protection Act 2018
- General Data Protection Regulations 2018
- Accounts & Audit Regulations 2015
- Code of Conduct 2012
- Standing Orders
- Financial Regulations
- Localism Act 2011
- Equalities Act 2010
- Local Government Act 2003
- The Value Added Tax Regulations 1995
- Nolan Principles of Public Life (1995)
- Local Government Act 1972
- Public Bodies (Admissions to meetings) Act 1960
- Relevant case law
Terms of Reference including delegated duties and responsibilities:
- Financial Management
- Consider matters delegated by the Council relating to finance.
- Support the Clerk/Responsible Financial Officer (RFO) in the administration of the Council’s financial affairs.
- Consider the Clerk/RFO’s report on the annual budget (income and expenditure) for the next three financial years; recommend Budget and Precept to Council.
- Consider forward planning and recommend levels of earmarked reserves to smooth expenditure across financial years.
- Ensure the Council holds adequate general reserves in line with best practice.
- Agree virements (transfers) between budget headings.
- Receive and approve schedules of payments.
- Authorise expenditure within the Committee’s budget, provided it is within limits approved by Council. Cannot commit or spend from future or unconfirmed budgets.
- Oversee Community Infrastructure Levy (CIL) income and expenditure.
- Oversight, Risk and Internal Control
- Consider internal and external audit reports and recommend system improvements where necessary.
- Appoint a panel to carry out quarterly internal control checks; consider reports and take action as needed.
- Appoint a panel to undertake an annual risk assessment of accounting procedures; consider findings and actions.
- Appoint a panel to undertake an annual audit of the Council’s internal processes and procedures.
- Undertake annual risk assessment of the Council’s insurance cover.
- Ensure adequate insurance cover for identified risks.
- Review Standing Orders and Financial Regulations regularly and make recommendations to Council.
- Review the Committee’s Terms of Reference annually for submission to Council.
- Review strategic plan objectives annually and report progress to Full Council.
- Data Protection and Information Governance
- Act as the Council’s Data Controller.
- Recommend to Council appropriate policies on data management and audit the security of Council-held data.
- Support the Clerk/RFO in maintaining registers of information held and overseeing protection of personal data.
- Appoint a panel to undertake quarterly data protection checks; consider reports and take action as needed.
- Appoint a panel to prepare a year-end data protection report for Council, including remedial actions taken.
- Policy and Communication
- Make recommendations to Council on the review and development of policy matters.
- Consider matters not delegated to the Clerk that relate to:
- Council newsletters
- Websites
- Meeting recordings
- Publicity and press releases
- Social media communications
- Progress the Council’s application for the Local Council Award Scheme – Quality Award.
- Progress and maintain the Emergency Community Plan.
- Consider recommendations from any Sub-Committees or Working (Advisory) Groups under the F&P Committee.
- Grant Funding (including Community Benefit Fund)
- Consider and award grants in accordance with legislation and the Council’s Grant Policy within agreed budget.
- Community Benefit Fund (CBF) responsibilities:
- Award of grants, ensuring compliance with provider agreements.
- Administer the CBF in accordance with provider agreements.
- Ensure accurate records are maintained (applications, decisions, dates, values, recipients).
- Determine eligible fund purposes according to criteria.
- Set the criteria for awarding CBF grants.
- Publicise and promote the fund throughout the Parish.
- Co-operate fully and in good faith with the fund providers.
- Consider and recommend entering other legal agreements that may offer financial community benefit.
- Other Functions
- Consider other matters as delegated by the Full Council that do not fall under the above categories.
Note: Any resolution made outside these Terms of Reference may be considered ultra vires and open to challenge in a Court of Law.