Finance

The aim of Frome Town Council is to be open and transparent in all its financial activities and ensure their financial management is adequate, effective and has a sound system of internal control. The foundation to achieve this is our Financial Regulations.

The Financial Regulations are reviewed each year and can be found here: Financial Regulations

In addition, our expenditure decision making adhere to certain ethical and connected party choices.

Ethical Decision Matrix can be found here: Ethical decision Matrix

Connected Party Declaration Form can be found here: Connected Party Declaration

The annual budget for the following year is discussed and receives final approval at the January council meeting.  After the expenditure budget is agreed and any expected income deducted, it leaves a balance required for the council to provide its services and deliver its Strategic Plan which can be found here

This balance required is called the ‘Precept’, and is the amount the Town Council asks from Mendip District Council as a proportion of the Council Tax paid by householders of Frome.

For the financial year 2018/2019 the ‘Precept’ is £1,268,273.  The Town Council’s portion of Council Tax bill depends on which band a property is in. Properties are put into one of eight bands, A being the lowest, and H the highest, with Band D being the average.

For 2018/2019 the Town Council’s portion of the Council Tax bill for a Band D property is £150.69 per year.

This is a slight increase on last year’s Council Tax bill for a Band D property of 15p per week.

Details of our 2018/2019 budget can be found here: 2018-19 Budget

The council receives assurance from Internal and External auditors that they are carrying out their duties responsibly and that appropriate accounting records have been kept.

The Notice of Public Rights and Publication of Audited Annual Governance & Accountability Return for year ended 31 March 2018 can be found here: Notice of conclusion of Audit  2017/18. View the Annual return for the year ended 31 March 2018.

Here are a list of the Internal Auditors reports;

Internal Auditors letter April 16 – June 16

Internal Auditors letter July 16 – February 17

Please note the report for March 17 is included in the Annual Return for the year ended 31 March 2017.

Internal Auditors letter April 17 – July 17 

Internal Auditors letter August 17 – October 17

Internal Auditors letter November 17 – January 18

Internal Auditors letter April 18- June 18

In order to achieve the aim of being open and transparent is to allow residents to see what the council spends its money on. Details of payments over £500 to suppliers each month can be found here:

January to May 2015

June to July 2015

August to September 2015

October to January 2016

February to May 2016

June to July 2016

August to September 2016

October to February 2017

March to April 2017

May to July 2017

August to September 2017

October to January 2018

February to March 2018

April to June 2018

July 2018

For more information on any finance related matters please contact Hannah Paniccia, Finance Administrator by email on panicciah@frometowncouncil.gov.uk