Financials

Annual Returns

Somerby Parish Council is required, in accordance with the Accounts and Audit Regulations, to complete an Annual Return setting out Accounting Statements and an Annual Governance Statement for each financial year. These statements and their supporting documentation are audited by the Council's Internal Auditor and an External Auditor.

The auditor appointed under the provisions of the Local Audit and Accountability Act 2014, the Accounts and Audit Regulations 2015 and the NAO's Code of Audit Practice 2015 is:

Moore East Midlands (Ref: Smaller Authorities Team), Rutland House, Minerva Business Park, Lynch Wood, Peterborough PE2 6PZ

Previous years:

Financial Risk Assessments

Risk is the threat that an event or action will adversely affect an organisation's ability to achieve its objectives and to successfully execute its strategies. Risk management is the process by which risks are identified, evaluated and controlled. It is a key element of the framework of governance together with community focus, structures and processes, standards of conduct and service delivery arrangements.

This document has been produced to enable the Parish Council to assess the risks that it faces and satisfy itself that it has taken adequate steps to minimise them. The Council is aware although some risks can never be eliminated fully, it has in place a strategy that provides a structured, systematic and focused approach to managing risk which:

• Identifies the key risks facing the Council
• Identifies what the risk may be
• Identifies the level of risk
• Evaluates the management and control of the risk and records findings
• Reviews, assesses and revises procedures if required.

The Financial Regulations govern the conduct of financial management by the Council and may only be amended or varied by resolution of the Council. The council is responsible in law for ensuring that its financial management is adequate and effective and that the council has a sound system of financial control which facilitates the effective exercise of the council's functions, including arrangements for the management of risk and for the prevention and detection of fraud and corruption. These financial regulations are designed to demonstrate how the council meets these responsibilities.

A Parish Council Precept is a tax charged on each property in a parish, and is seen on your Council Tax bill. It is used to fund all the activities that a Parish Council undertakes for the benefit of the community.