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 2017/2018 the ‘Precept’ is £1,193,268.  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 2017/2018 the Town Council’s portion of the Council Tax bill for a Band D property is £143.65 per year.

This is a slight increase on last year’s Council Tax bill for a Band D property of 10p per week.

Details of our 2017/2018 budget can be found here: 2017 18 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.

Notice of date of commencement of period for the exercise of public rights accounts for the year ended 31 March 2017 can be found here: Notice of date of commencement

You can find the Internal and External Auditor’s reports in the Annual Return for the financial year ended 31 March 2016 here: Annual Return 2016

The Conclusion of the Audit from the External Auditor for year ended 31 March 2016 can be found here: Audit Report 2016

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

For more information on any finance related matters please contact Jackie Wheeler, Responsible Finance Officer by email on wheelerj@frometowncouncil.gov.uk