Terms of Reference 2026/27

Finance & Policy Committee (F&P)

 

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, Scheme of Delegation, Code of Conduct and any relevant statutory requirements.

 

This document sets out the remit, powers, and procedures for the Finance & Policy Committee (F&P).

 

Committee Overview

 

Remit:

Oversight of Council finance, budget monitoring, internal control, audit, risk management, data protection, information governance, grant funding, Community Benefit Fund administration and Council-wide policy administration, working within delegated budget and authority..

 

Composition:             Seven (7) Elected members (Voting)

Two (2) Substitute members (Voting)

 

Non-Members:          All Councillors not elected to the Finance & Policy Committee may attend public sessions and at the discretion of the Chairman, may speak on an agenda item, but shall have                                          no voting rights and shall not count towards the quorum.

 

Quorum:                    Four (4) members. Substitute members count towards quorum only when formally substituting for an absent appointed member.

 

Chairmanship:          Chairman and Vice-Chairman to be elected by the members at the first committee meeting held in each Council year.

 

Meetings:                   Four ordinary meetings per year. 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

 

 Authority and Delegation

The Committee has delegated authority to make decisions within its approved Terms of Reference, adopted budget, Standing Orders, Financial Regulations and the Council’s Scheme of Delegation.

 

The Committee may authorise expenditure within its delegated budget, provided that such expenditure is within previously approved limits and does not commit the Council to future or unconfirmed budgets.

 

The following matters must be referred to Full Council or the relevant committee:

  • matters outside these Terms of Reference;
  • matters outside approved budget;
  • new or amended Council policy requiring Full Council approval;
  • contractual commitments beyond delegated limits;
  • matters involving significant financial, legal, reputational or governance risk;
  • matters reserved to Full Council under the Council’s Scheme of Delegation.

 

Legal & Governance Framework

The Committee operates under the following legislation and policy documents (non-exhaustive):

  • Finance Act 2019
  • Data Protection Act 2018
  • UK GDPR
  • Accounts & Audit Regulations 2015
  • Localism Act 2011
  • Equality Act 2010
  • Local Government Act 2003
  • The Value Added Tax Regulations 1995
  • Local Government Act 1972
  • Public Bodies (Admissions to meetings) Act 1960
  • Practitioners Guide 2026/27 – Governance and Accountability for Smaller Authorities in England
  • Council’s adopted Code of Conduct.
  • Council’s adopted Standing Orders.
  • Councils adopted Financial Regulations.
  • Council’s Scheme of Delegation.
  • Nolan Principles of Public Life.
  • any other relevant legislation, guidance, or case law

 

 Terms of Reference including delegated duties and responsibilities:

 

  1. 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.

 

  1. 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.

 

  1. Data Protection and Information Governance
  • Act as the Council’s Data Controller and oversee the Council’s data protection and information governance arrangements on behalf of Full Council.
  • Recommend to Council appropriate policies on data protection, information management, cyber security, publication, transparency, retention and audit of Council-held data;
  • Support the Clerk/RFO as the Data Protection Officer in maintaining records and 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.
  • consider data protection, Freedom of Information, Environmental Information Regulations, transparency or information governance matters referred by Full Council, the Clerk/RFO or another committee.

 

  1. Policy and Governance
  • make recommendations to Full Council on the review, development and adoption of Council policies, procedures and governance frameworks;
  • retain policy oversight of meeting recording, broadcasting and filming arrangements as part of the Council’s transparency and meeting governance framework;
  • progress the Council’s application for the Local Council Award Scheme;
  • progress and maintain the Emergency Community Plan;
  • consider recommendations from any Sub-Committees, Working Groups or advisory groups under the control of the Finance & Policy Committee.

 

  1. Grant Funding (including Community Benefit Fund)
  • Consider and award grants in accordance with legislation and the Council’s Grant Policy within agreed budget.
  • Where another committee identifies a grant opportunity for a project within its remit, that committee may make recommendations to Finance & Policy or Full Council where match funding, legal agreements, long-term commitments or cross-committee budgets are involved.
  • 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.

 

  1. Cross-Committee Budget and Policy Coordination
  • receive annual budget estimates from other committees and consider them as part of the Council’s budget-setting process;
  • consider financial implications of committee work programmes and strategic plan objectives;
  • advise Full Council where a committee proposal has implications for reserves, precept, grant funding, insurance or governance;
  • coordinate policy review timetables to avoid duplication and ensure policies remain current;

 

  1. Other Functions
  • consider other matters delegated by Full Council that do not fall under the remit of another committee;
  • make recommendations to Full Council on matters outside its delegated authority;
  • consider urgent finance, policy, risk or governance matters referred by the Clerk/RFO, subject to Standing Orders, Financial Regulations and the Scheme of Delegation.

 

Note: Any resolution made outside these Terms of Reference may be considered ultra vires and open to challenge in a Court of Law.