Finance Committee Terms of Reference
November 2020
7 Members of the Committee
Quorum: 3
| Number | Function of Committee Column 1 |
Delegation of Function/s Column 2 |
|---|---|---|
|
1 |
To oversee and direct the use of financial and technological resources |
|
| Number | Function of Committee Column 1 |
Delegation of Function/s Column 2 |
|---|---|---|
| 1 | To be responsible for the overall management and control of the finances of the Council |
|
| 2 | To monitor the Council’s capital and revenue budgets. | Committee/Town clerk in accordance with Financial Regulations. |
| 3 | Approval of variations, overspend and virement in accordance with Financial Regulations. | Committee and Town Clerk as set out in the Financial Regulations. |
| 4 | To make recommendations to the Council on budget and precept requirements. |
|
| 5 | To advise on the financial implications of proposed new policies or development of existing policies including sources of revenue. | Committee |
| 6 | To advise Council on borrowing policy and investment treasury management. | Committee |
| 7 | To monitor the performance of all funds invested. | Town Clerk |
| 8 | To supervise the Council’s insurance arrangements. | Town Clerk |
| 9 | To supervise the Council’s banking arrangements. |
|
| 10 |
To be responsible for all matters related to the full range of financial and accountancy functions. |
Town Clerk |
| 11 | To consider reports on outstanding debts due to the Council and to undertake recovery or write off. | Committee in accordance with Financial regulations. |
| 12 | To issue orders for work, goods and services |
Committee/Town Clerk in accordance with Financial Regulations. |
| 13 | To approve all security arrangement of the Council in respect of computers and financial issues. | Committee or Town Clerk in accordance with Financial regulations. |
| 14 | To authorise investment and debt repayment in accordance with the Council’s policy. | Committee |
| 15 | To authorise all leasing arrangements for the acquisition of vehicles, plant and equipment within approved budgets. | Committee/Town Clerk in accordance with Financial Regulations. |
| Number | Function of Committee Column 1 |
Delegation of Function/s Column 2 |
|---|---|---|
| 1 | To administer the Council’s Grant Scheme in accordance with its policy. | Committee |
| 2 | To approve grants up to £10,000 and to recommend to Council grants in excess of this. | Committee to approve grants up to £10,000 |
| 3 | To advise on the formulation and amendment to Grant Policy | Committee |
| 4 | Power to pay telecommunications operators any loss sustained providing telecommunication facilities; Telecommunications Act 1984, S97 | Committee to approve grants up to £3,000 |
| 5 | Powers to make grants for transport schemes. | Committee to approve grants up to £3,000 |
| Number | Function of Committee Column 1 |
Delegation of Function/s Column 2 |
|---|---|---|
| 1 | To oversee the use of information technology in support of the Council’s business and service commitments | Operational management to the Town Clerk, Strategic Overview to the Committee |
| 2 | Amendments to the layout of the Website | Town Clerk |
| Number | Function of Committee Column 1 |
Delegation of Function/s Column 2 |
|---|---|---|
| 1 | To co-ordinate and oversee the Council’s Corporate Procurement | Committee for Strategic Overview, Town Clerk for operational management |
| Number | Function of Committee Column 1 |
Delegation of Function/s Column 2 |
|---|---|---|
| 1 | To be responsible for monitoring the performance of the Council | Operational management to the Town Clerk, Strategic Overview to the Committee |
| 2 | To monitor the progress of the Capital Programme |
Committee |
| 3 | Approval of Corporate Business Plan |
Committee Town Clerk to determine underlying Action & Project Plans |
| Number | Function of Committee Column 1 |
Delegation of Function/s Column 2 |
|---|---|---|
| 1 | To promote the efficiency and integrated management system |
Town Clerk for operational management |
| 2 | To Promote customer care and equality in service delivery and access | Operational management to the Town Clerk |
| Number | Function of Committee Column 1 |
Delegation of Function/s Column 2 |
|---|---|---|
| 1 | To coordinate and promote access to the Council services and public information |
Town Clerk for operational management |
| 2 |
To Promote implementation of the Council’s policies in respect of corporate marketing and communication |
Operational management to the Town Clerk |
| Number | Function of Committee Column 1 |
Delegation of Function/s Column 2 |
|---|---|---|
| 1 | Maintenance of the Asset Register | Town Clerk (Chair to verify annually) |
| 2 | Provision & management of Office accommodation, other Corporate property, land and relevant fixtures and fittings | Operational management to the Town Clerk Strategic Overview to the Committee |
| 3 | Provision of common pasture | Strategic Overview to Committee Operational management to the Town Clerk |
| 4 | Corporate landlord management, repair and maintenance. Leasing and licensing of Council land and buildings | Strategic Overview to Committee Operational management to the Town Clerk |
| Number | Function of Committee Column 1 |
Delegation of Function/s Column 2 |
|---|---|---|
| 1 | To receive approve and action interim audit reports |
Committee |
| 2 | To administer and advise Council on matters of Data Protection, Access to Information, Freedom on Information and Human Rights. |
Operational management to the Town Clerk |
| Number | Function of Committee Column 1 |
Delegation of Function/s Column 2 |
|---|---|---|
| 1 | To overview the role of, allocate tasks to and receive minutes of the Strategy Working Group | Tasks to the Working Group in accordance with their Terms of Reference |
Definition of Strategic Overview
That part of an initiative or service which is considered necessary to define Policy and Budget.
Definition of Operational Management
That part of the service which is considered necessary in the delivery of an initiative or service which is within Policy and Budget.