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Flaunden Parish Council sets its own budget annually in December for the following financial year. This is done by estimating expenditure including major projects, upgrading existing facilities, ongoing maintenance etc. This is then compared with likely income including the annual precept and grants from County and Borough Councils.
Before setting the budget Councillors determine the precept for the following year, taking into account outside factors such as the rate of inflation, cost of living and the economic climate. Once this has been done priorities are agreed and the budget set.
Expenditure is reviewed regularly by Council and compared with the Budget Forecast.
Expenditure is recorded and monitored monthly by the Responsible Finance Officer. It is audited annually by a company nominated as External Auditors by the Audit Commission for Local Councils in England. In addition to this an Internal Auditor is appointed from outside the village to audit the Parish Council accounts and systems before they are sent to the External Auditor.
Receipts and Payments Lists