Finance and Annual Governance and Accountability Returns

The Parish Council's financial year runs from the 1 April to 31 March each year.

At the end of the financial year, the Council closes its accounts and completes the Annual Governance and Accountability Return (AGAR).  This includes an Annual Governance Statement, the Accounting Statements, the Internal Audit Report and External Audit Report.

It is a legal requirement for all Parish Councils to have an Internal Audit each year.  Councils that have gross income or gross expenditure over £25,000 are also required to have an External Audit, which is carried out by PKF Littlejohn. 

The deadline for submitting the AGAR and accompanying documents to the External Auditor is 30 June each year.  They are then required to complete the audit and send their report to the Council by the end September.

The Council is also required to publish the AGAR, Internal Audit Report and other documents on the website by 1 July.  This information can be found in the section relating to the relevant Financial Year.

The Council must also publish a Notice for the Exercise of Public Rights which is a 30 day period (which must include the first 10 working days in July) where members of the public can contact the Clerk to arrange to see all financial paperwork.  Once the External Audit has been completed we are also required to publish a Notice of Conclusion of Audit. 

The Council considers it's finances at every Council meeting (with the exception of August when the Council does not meet). 

This includes:

Receipts and Payments

This is a list of receipts and payments that have come in and gone out each month. 

The list of receipts and payments is published with the agenda pack each month.

A list of all payments must be published by the 1 July each year and this can be found under the relevant financial year. 

Payment Schedule

Councillors consider the schedule of payments each month along with the invoices.

The payment schedule is published with the agenda pack each month.

Transfer Schedule

Approving the movement of money between the Council's Current Account and Savings Accounts.

The transfer schedule is published with the agenda pack each month.

Receipts and Payments & Payment Schedule - Quarter 1 (1 April  to 30 June 2025)

Receipts and Payments & Payment Schedule - Quarter 2 (1 July to 30 September 2025)

Receipts and Payments, Payment Schedule & Transfer Schedule - Quarter 3 (1 October to 31 December 2025)

Receipts and Payments, Payment Schedule & Transfer Schedule - Quarter 4 (1 January to 31 March 2026) 

Bank Reconciliations

These reports reconcile the receipts in and payments out of the cashbook to the Bank Statements. 

The reconciliation is published with the agenda pack each month. 

Bank Reconciliations - April 2025

Bank Reconciliations - May 2025

Bank Reconciliations - June 2025

Bank Reconciliations - July 2025

Bank Reconciliations - August 2025

Bank Reconciliations - September 2025

Bank Reconciliations - October 2025

Bank Reconciliations - November 2025

Bank Reconciliations - December 2025

Bank Reconciliations - January 2026

Bank Reconciliations - February 2026

Bank Reconciliations - March 2026 

As outlined above, the Council's Financial Year runs from 1 April to 31 March.  In October each year, work starts on preparing the budget for the next Financial Year.  

The budget is an estimate based on assumptions from the information available to the Council at the time.  For example, the rate of inflation at the end of September is used to inflate prices in the budget.   

The Council considers the Draft Budget at the November meeting reviewing the information prepared by the Parish Clerk & Responsible Financial Officer.  Any changes are then factored into the budget before it comes back to the December meeting.

Normally the Budget is finalised and approved in December or January. 

East Devon District Council (EDDC) provide the tax base so that the Parish Council can set the Precept (the amount that goes into your Council Tax bill). 

The Precept is basically the balancing figure between the estimated expenditure and income other than the Precept (e.g. Allotment fees, bank interest).

Once approved the Precept information goes off to EDDC (normally in the middle of January) so that it can be added to the Council Tax Bills.  EDDC collect the Precept for the Parish Council and we receive it in two chunks.

Budget and Precept 2026/2027

Budget and Precept 2025/2026

Budget Monitoring  

The Council considers the budget monitoring report which monitors actual performance against the budget at every Council meeting (with the exception of August when the Council doesn't meet)

The budget monitoring report is published with the agenda pack each month.

Budget Monitoring Report - April 2025

Budget Monitoring Report - May 2025

Budget Monitoring Report - June 2025

Budget Monitoring Report - August 2025

Budget Monitoring Report - September 2025

Budget Monitoring Report - October 2025

Budget Monitoring Report - November 2025

Budget Monitoring Report - December 2025

Budget Monitoring Report - January 2026

Budget Monitoring Report - February 2026

Budget Monitoring Report - March 2026 

The Council holds General Reserves and Ear Marked Reserves.

Ear Marked Reserves are held for specific projects or specific reasons, e.g. the Parish Field Play Area project.

Best practice guidance recommends that Parish Council's hold General Reserves to cover unexpected items such as unexpected inflation, unforeseen events and unusual circumstances.  For a smaller authority this should be maintained at between three and twelve months of net revenue expenditure.  The smaller the authority, the closer the figure may be to twelve months expenditure, the larger the authority, the nearer to three months.

The Council has a Reserves Policy which sets out its approach to General and Ear Marked Reserves which is reviewed on an annual basis, normally in April each year.  Any changes to Reserves are considered at Council Meetings and recorded in the minutes. 

Reserves Policy - April 2025

Reserves Breakdown - April 2025

Reserves Breakdown - end March 2026

Movement in Ear Marked Reserves in 2025/26