The financial year runs from 1st April to the 31st March.
Accounts: At the end of the financial year, the Cash Books and Bank Reconciliations are reviewed and signed off by the Parish Council and the year end reconciliation is published on the webpage, alongside other documents which form part of the annual audit..
Budgets: A draft budget for the following financial year is drawn up for the September meeting. The final budget is signed off during the January meeting, and informs the Precept. The council carries out regular reviews of the budget throughout the year.
Precept: Breckland DC are informed of Parish Precept requirement in January, before the start of the next financial year.
Audit: An Annual Return, based on the previous year’s accounts is agreed by the Parish Council following completion by the responsible financial officer and the internal auditor, usually during the May meeting, and this is sent to the appointed external auditors usually before the end of June. Where both the receipts and payments for the council are below the £25000 threshold the council may wish to declare the council exempt from external audit. The public have a right to inspect the audit and a notice for the dates of inspection are published online and on the parish notice board. Inspections are by appointment with the parish council clerk.
pre March 21