Finance

The Parish Council is open and transparent about the way it manages its finances. This page contains information on the way the Council protects its finances and what it has spent money on.

The Council’s finances are monitored on a day to day basis by the Responsible Financial Officer (Parish Clerk) and the Policy & Finance Committee takes an oversight role for the council budgets whilst each committee also monitors its own income and expenditure

To view a copy of the Financial Regulations, see our Policy & Finance page.  To view financial documents from previous years or if you have any queries please contact the Clerk on 01793 722446.

Monthly Payment Approvals

In order to comply with the Local Government Transparency Code 2015, all payments made to suppliers over £500 are published.  However, the Council took the decision to publish all payments and schedules are taken to either the Policy & Finance Committee or Full Council for approval.  After all payments have been approved by Council, the payments will be made to the suppliers.

A useful guide on how to understand local authority accounts and what your rights are as a parish resident Local authority accounts – A guide to your rights.

The Budget & Precept

The Parish Council budget process starts in August each year when the Clerk begins preparing draft budgets for each committee. These are then reviewed with the committee chairman and in September/October committees agree a draft budget. The budget is passed to the Finance Committee which in November reviews the amalgamated budget and agrees the draft reserve levels. The committee agrees a recommended budget which is presented to the January Parish Council meeting where the budget is agreed and precept is set.

The Parish Council receives the majority of its income through the precept; an annual sum of money collected with the Council Tax by Swindon Borough Council. The precept is set by the council in January each year and for 2020/21 is £822,375.57 which amounts to a Band D rate of £91.23 per annum. The rest of the Council’s income is from rental income, grants, event income, and sponsorship.

How the precept is worked out:

End of year 19/20 projections

General reserves b/f from 18/19

£311,999.00

Anticipated remaining Ear Marked Reserves (EMRs) at 31.3.20

£102,781.00

Projected surplus in budgets

£61,587.00

Total to be carried forward 20 20/21

£476,367.00

20/21 projections

Projected expenditure for 20/21 (including EMRs)

£971,515.00

5 months reserves required based (on operating expenditure

£368,213.00

Projected income for 20/21

£40,986.00

Net budget expenditure (b)

£1,298,742.00

Precept required (b-a)

£822,375.00

Annual Audit Reports

The Council prepares an annual accounting statement which is externally audited. This summarises the council’s income and expenditure for the year and includes statements from the Council’s internal auditor.

This is a statutory provision of  Section 6 of the Local Audit and Accountability Act 2014. Haydon Wick Parish Council is classified as a smaller authority (where the higher of gross income or gross expenditure was over £25,000) and has to complete Part 3 of the Annual Governance and Accountability Return (AGAR).

The AGAR gives the opportunity for electors and local taxpayers to see the Council’s accounting statements and governance arrangements which is then submitted to the appointed external auditor for their approval. The Notice to view these statements and arrangements will be published in line with the requirements and the deadlines received each year.

Explore our latest news